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.
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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.
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Apartment, Development, Retail

21-Unit Rental Building Planned for Main & 28th Corner

M28 Holdings Ltd. has submitted a development application for a 75′ x 112′ site at the Southeast corner of 28th and Main for a new rental apartment building. The C-2 zoned site is currently occupied by single storey retail including Le Gent Antiques on the corner.

The new development will be 4-storeys and will include:

  • retail and restaurant uses on the ground floor;
  • 21 rental market rental units;
  • a total density of 2.5 FSR;
  • a building height of 45 feet;
  • two levels of underground parking accessed from the lane.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The site sold in December 2016 for $6,980,000, or $341 per buildable SF based on the application.

November 22, 2017by david.taylor@colliers.com
Development, Retail

65-Unit Condo Building Planned for Main & 6th

Port Living has submitted a rezoning application for a site at 2202 Main Street, on the Southeast corner of 6th and Main in Mount Pleasant. 

The 17,445 SF site, currently occupied by Blue Star Motors and a 2-storey commercial building, is currently zoned IC-2 but has rezoning potential as part of the Mount Pleasant Community Plan.

The proposal, entitled “Main Street Arts”, is to permit the development of a 6-storey mixed use building that includes:

    • 65 condo units;
    • 19 studios, 19 one-bedrooms, 17 two-bedrooms and 10 three-bedrooms;
    • 9,614 SF of at-grade retail plus 6,617 SF of below ground retail;
    • A total density of 3.86 FSR;
    • A building height of 74.5 ft;
    • 99 parking spaces (including 1 car share space); and
    • 2 Class B loading spaces.

The architect for the project is Studio B Architects. 

November 20, 2017by david.taylor@colliers.com
Development

FOR SALE: East Vancouver Development Opportunity

I am pleased to introduce this remarkable corner site on Commercial Drive in the burgeoning Grandview Woodland area of East Vancouver. The site represents a rare opporunity to develop a 6-storey market residential building just 3 minutes from one of Vancouver’s busiest transit hubs – Commercial/Broadway Skytrain Station.

Brochure – 1650 East 12th Ave – E Copy

November 17, 2017by david.taylor@colliers.com
Development

179-Unit Project Planned for Central Lonsdale Site

Adera Development has submitted a rezoning application to the City of North Vancouver for a former TELUS property at 8th and Lonsdale (south of East 11th). The site is triangular in shape and totals 62,543 SF. The proposal would include the retention of portions of the existing TELUS utility building which occupies the easternmost extent of the site; the site would be subdivided and 30 parking spaces would be provided for TELUS‘ use within the new residential development to the West.

The proposal, entitled Lonsdale Cityhomes, includes two new 6-storey residential buildings and a mix of townhouses. Details include:

  • 179 units;
  • Sizes varying from 600 to 1,900 SF;
  • a total density of 2.60 FAR;
  • a total CAC of $8,756,020;
  • 235 parking spaces

The lot is zoned Residential Medium Density 1 (RM-1) with an Official Community Plan designation of Residential Level 5. The OCP allows for a density of 1.6 FSR and a potential for an additional bonus of up 1.0 FSR in accordance with the Density Bonus and Community Benefits Policy. 

The architect for the project is Integra Architecture.

November 17, 2017by david.taylor@colliers.com
Development

25-Unit Townhouse Project Proposed for Edgemont Village

Boffo Properties has submitted a rezoning application for a four-lot land assembly in Edgemont Village, which they intend on developing as a follow-up to their currently under construction project nearby “Edgemont Walk”. 

The site is located at 1031, 1037, 1041 and 1045 Ridgewood Dr., just East of Grosvenor’s Connaught project, also under construction. The lots were redesignated in 2015 in the Edgemont Village Centre Plan, and allow townhouses up to 1.20 FSR.

Details of the proposal include:

  • 25 townhouse units in five 3-storey buildings;
  • 3-bedroom units ranging from 1,725 to 2,402 SF;
  • A total density of 1.20 FSR; 
  • 52 parking stalls
  • A CAC payment of $180,000.

The architect for the project is TKA+D Projects.

November 5, 2017by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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