Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Development, Retail

Third Tower for Pearson Dogwood Site Includes 177 Units
 
Parcel C is located on the North side of the overall site, on the south side of West 57th between Cambie Street and Heather Street. The plan is for a 27-storey mixed-use building that includes the following:
 
  • 171 market dwelling units;
  • 66 one-bedrooms, 99 two-bedrooms and 5 three-bedrooms;
  • 6 Pearson supportive units;
  • 17,500 SF of retail on Level 1, community health centre on Levels 1-4 and child daycare on Level 4;
  • a building height of 292 ft.;
  • 330,593. sq.ft. of floor area; and
  • four levels of underground parking accessed from a new internal street.

April 10, 2018by david.taylor@colliers.com
Development

38 Rental Units Proposed for Commercial & Adanac Site
 
The rezoning proposal is to permit the development of a 6-storey passive house mixed-use building. The proposal includes:
 
    • 38 market rental units;
    • 3 studios, 7 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
    • 4,053 SF of retail on the ground floor facing Commercial Drive;
    • a density of 3.0 FSR;
    • a height of 73.7 ft.;
    • 23 underground parking spaces; and
    • 56 bicycle stalls.

This application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Cornerstone Architecture.

April 2, 2018by david.taylor@colliers.com
Apartment, Development, Retail

203 Units Planned for Park Royal South

A rezoning application has been filed by Larco with the District of West Vancouver for the former Whitespot property at the Southwest corner of Marine and Taylor Way, part of Park Royal South. The rezoning had been proposed several times over the past six years, but was ultimately facilitated by the City’s passage of the Marine Drive Local Area Plan in 2017. The combined 2.3 acre site includes fee simple lands, as well as leasehold lands belonging to Squamish First Nation.

The proposed plan includes two residential buildings as well as commercial space. Details include:

  • two buildings of 11 and 14-storeys in height;
  • 203 total units including:
    • 143 condo units
    • 60 rental units (49 market and 11 non-market);
  • 20,000 SF of retail space (plus 9,800 SF of retail on SFN lands);
  • 3,900 SF of childcare space;
  • a total density of 2.25 FAR;
  • a 3,100 SF public plaza;
  • 251 underground parking spaces.

The architect for the project is DIALOG.

March 30, 2018by david.taylor@colliers.com
Development

FOR SALE: West End Development Opportunity

We are pleased to reintroduce 1860 Barclay Street, the only 33 ft. lot in the West End permitted for a 6-storey infill development building. This is a unique opportunity for a builder or owner occupier to acquire a site with permits in place and immediate development potential. 

The site is offered at $5,980,000.

 

March 26, 2018by david.taylor@colliers.com
Development

Revised Plan for Hotel on Edward Chapman Site Approved

A revised development permit application has been approved for the proposed 13-storey hotel on the Edward Chapman site at 833 West Pender. The project is somewhat unique in that the site is only 52′ x 120′.

An application was originally made by Executive Group in January 2017 after they acquired the site in 2016. The application required some tweaks but has now been approved at the Development Permit Board. Here are the details of the project:

  • 106 hotel rooms (9 rooms per floor)
  • Restaurant on the ground floor;
  • Building height of approximately 154 ft;
  • A total density of 10.33 FSR;
  • A common roof deck amenity for guests including rooftop bar;
  • 20 underground valet parking spaces accessed from the lane via car elevator.

The zoning for the site allows for 9.0 FSR, but up to 15% increase for hotel use.

Executive Group plans to open the 202-room Exchange Hotel in the lowrise portion of the Exchange Tower later this year.

The architect for the project is Studio One Architecture.

March 23, 2018by david.taylor@colliers.com
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