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, Rental, Retail

20-Storey, 185-Unit Rental Tower Planned for Kits Site

Millenium Development has submitted a rezoning application for a new rental tower proposal at 2170 West 1st Avenue, near the corner of Yew Street in the Kitsilano area of the Broadway Plan.

The 21,000 SF site is located in the Kitsilano North – Area B (KKNB) policy area of the Broadway Plan.

The proposal calls for a 20-storey rental tower with a 4-storey podium and includes:

  • 185 rental units;
  • 20% below market;
  • 6,300 SF of commercial space;
  • A total density of 6.80 FSR;
  • A building height of 212 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Chris Dikeakos.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2158-2170-w-1-ave

July 18, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Anthem Completes Oakridge Tower Site Acquisition

Anthem Properties has completed on the purchase of a three-lot land assembly in the Oakridge Municipal Centre area of Vancouver.

The deal for the site at 5630-5688 Heather Street was originally started in 2022 and since late 2023 has been under a rezoning application for an 18-storey, 184 unit rental tower. The application was referred to public hearing on July 9, 2024.

5630-5668 Heather Street – Proposed Mixed-Use Rental Housing Development from BHA Architecture on Vimeo.

The purchase price for the site was $23,550,000, or $175 per buildable SF based on the application density.

July 17, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

17-Storey Rental Building Near 12th & Main Latest Broadway Plan Application

A rezoning application has been submitted by Prospero & Five Mile Holdings for a site at 245 East 12th Avenue in the Mount Pleasant area.

The 16,000 SF site is located in the ‘Mount Pleasant South Apartment Area – Area ‘A’ [MSAA] subarea of the Broadway Plan.

The proposal is to allow for the development of an 17-storey rental building with a three-storey podium and includes:

  • 146 rental units;
  • 20% below-market;
  • 4,400 SF of retail space on the ground floor;
  • A total density of 6.79 FSR; and
  • A building height of 181 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

July 16, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Proposal for Mount Pleasant Site Includes 273 Rental Units

Fiera Real Estate has submitted a rezoning application for a site at 396 East 2nd Avenue in the Mount Pleasant neighbourhood.

The site is located at the corner of East 2nd and Brunswick Street, just South of Great Northern Way, and is in the Broadway Plan Mount Pleasant North Apartment Area – Area A. The 27,790 SF site is currently improved with an older 53-unit walkup apartment building.

The proposal is to allow for the development of a 22-storey rental building with a 6-storey podium and includes:

  • 273 rental units with 20% below-market;
  • a total density of 6.50 FSR;
  • A building height of 214 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Kasian Architecture. Colliers International’s Strategy and Consulting Group is the development manager for the project.

July 8, 2024by david.taylor@colliers.com
Development, Rental, Retail

38-Storey, 408 Unit Rental Project Pitched for Joyce Collingwood Site

Sightline Properties has submitted a rezoning application for a site at 4975-4997 Joyce Street in the Joyce Collingwood area of East Vancouver.

The 13,859 SF site is located on the West side of Joyce Street half a block from the Skytrain Station.

The proposal is for a 38-storey rental tower that includes:

  • 408 market rental units with 10% below-market rental;
  • 3,700 SF of ground floor retail space;
  • a total density of 18.89 FSR;
  • A building height of 384 ft. with additional height for rooftop amenity space.

This application is being considered under the Joyce-Collingwood Station Precinct Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is Ciccozzi Architecture.

July 5, 2024by david.taylor@colliers.com
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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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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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