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.
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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Development

SOLD: 3370 Dewdney Trunk Road, Port Moody

I am pleased to announce the sale of 3370 Dewdney Trunk Road in Port Moody. A fantastic 1.7 acre site located just a few minutes from Inlet Centre Station.

3370 Dewdney Trunk_Sold

June 22, 2017by david.taylor@colliers.com
Development

20-Unit Building Planned for Marpole Site

A development application has been submitted for a two-lot, 10,563 SF land assembly on Granville Street in Marpole. The site at 7878 Granville sits just South of Coromandel’s Leveson project, currently under construction.

The plans for this site are for a 4-storey condo building, including:

  • 20 condo units;
  • a total density of 2.0 FSR;
  • one level of underground parking having vehicular access from the lane.

7878 GranvilleUnder the site’s existing RM-9 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

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

33-Storey Tower Proposed for Downtown New West Site

Rezoning and Special Development Permit applications have been submitted to the City of New Westminster for a new development at 618 Carnarvon Street, a 39,747 SF site that includes  the consolidation of a six properties with frontages along Carnarvon, Sixth and Clarkson Street.
 
The existing zoning for the site at 618 Carnarvon Street is C-4 and it is currently improved with lowrise commercial buildings.
 
The planned project includes a 33-storey condo tower, including:
 
  • 253 units;
  • 28 studios, 69 one-bedrooms, 126 two-bedrooms & 39 three-bedrooms;
  • a total building height of 350 ft.;
  • a total density of 6.20 FSR;
  • retail uses fronting Sixth Street;
  • 325 underground parking spaces.
  • A ‘pocket park’ fronting onto Sixth and Carnarvon.
  • A CAC of $2,900,000

618 Carnarvon618 Carnarvon_1618 Carnarvon_2The site is designated Mixed Use High Density Designation within the Downtown Community Plan. The site is also located within the Tower Precinct in the Downtown Community Plan.

 
The architect for the project is GBL Architects.
 
June 14, 2017by david.taylor@colliers.com
Apartment, Development, Retail

55-Unit Rental Building Planned for Rupert Street Site

A rezoning application has been submitted for a new rental apartment building for a site at the Southwest corner of Rupert Street and East 22nd Avenue; just down and across the street from a Rental 100 project, currently in final stages of rezoning approval. The site is currently improved with an older single-storey retail building.

The plan for the site at 3281-3295 East 22nd Avenue is to rezone from the existing C-1 commercial zoning to CD zoning to allow a 6-storey mixed-use project.

The application includes the following:

    • 55 market rental units;
    • 14 studios, 16 one-bedrooms, 18 two-bedrooms & 7 three-bedrooms;
    • 6,888 SF of ground floor retail space;
    • A total density of 3.03 FSR;
    • A building height of 72 ft.; and
    • 43 underground parking spaces.

3281 E 22nd3281 E 22nd_23281 E 22nd_3The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Cornerstone Architecture.

June 12, 2017by david.taylor@colliers.com
Development

8 Acre Brentwood Site Sells in $152 Million Deal

An 8.13 acre land assembly at the corner of Willingdon Avenue and Dawson Avenue has sold to Aoyuan Property Group (Canada), a Hong Kong based developer, for $152,000,000.

DawsonThe site comprises six parcels, currently improved with various older industrial buildings. The Brentwood Town Centre Plan designates the site a mixture of medium density mixed use and high density residential.

 

June 9, 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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