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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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Development

FOR SALE: High-Density Transit-Oriented Development Site

We are pleased to introduce a 35,000 SF land assembly adjacent 22nd Street Skytrain Station in New Westminster. This assembly represents a rare opportunity to acquire a high-density residential site immediately adjacent a transit station.

BRO_22nd Street StationPlease download our brochure here: BRO_22nd Street Station Final E. Contact us for further details.

March 1, 2017by david.taylor@colliers.com
Apartment, Development

6-Storey Rental Building Planned for Kingsway

Another week, another rental apartment building rezoning application under the City of Vancouver’s Rental 100 program. This one is for a 12,300 SF site (99′ x 122′) located on the North side of Kingsway near Fraser Street. The application to for 855 Kingsway calls for a rezoning from the existing C-2 zoning to CD to permit the development of a six-storey mixed-use building. This is a concurrent rezoning and development permit application.

The proposal includes:

    • 49 secured market rental units;
    • 14 studios, 18 one-bedrooms, 12 two-bedrooms and 5 three-bedroom units
    • 4,043 SF of retail at grade;
    • A total density of 3.30 FSR;
    • A building height of 68.9 ft.; and
    • 25 underground parking spaces.

855 Kingsway855 Kingsway_1 855 Kingsway_2This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is Cornerstone Architecture.

The site had sold in 2015 for $3,668,000, or approximately $91 per buildable SF.

February 28, 2017by david.taylor@colliers.com
Development

33-Unit Project Planned for Chinatown

James Schouw and Associates has applied to the City of Vancouver for permission to develop on a 6,098 SF site next to Beedie’s controversial project at Keefer and Columbia. The plan for the existing vacant site is for a 10-storey mixed-use building with commercial uses on the first two floors and residential uses above. The proposal includes :

  • 33 residential units;
  • total floor area of 49,323 SF;
  • 8,000 SF of commercial space;
  • building height of approximately 88 ft.; and
  • 3 levels of underground parking containing 39 parking spaces.

129 Keefer_2 129 Keefer_1 129 KeeferThe plan also calls for the commercial space to have frontage on both the Keefer side and the laneway.

Under the site’s existing HA-1A zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

February 27, 2017by david.taylor@colliers.com
Apartment, Development

Infill Apartment Building Planned for Arbutus Corridor

Strand Development has submitted a rezoning application for a 10,881 SF site on West 12th Avenue, next to the Arbutus greenway. The site is currently improved with an older commercial building occupied by Blenheim Import Auto Service. 

The plan for the site calls to rezone from the existing C-7 commercial zoning to permit the development of a 6-storey residential building. The proposal includes:

    • 48 rental apartment units;
    • 3 studios, 20 one-bedrooms, 15 two-bedrooms and 10 three-bedrooms
    • A total density of 3.47 FSR
    • A building height of 63.75 ft.; and
    • 20 underground parking spaces.

2075 West 12th2075 West 12th_2 2075 West 12th_1 The application is being made under the Rental 100 policy.

The architect for this project is Yamamoto Architecture.

February 20, 2017by david.taylor@colliers.com
Apartment, Development

Infill Tower Planned for North Van Apartment Property

A preliminary rezoning application has been submitted by Chard Development in order to add much needed rental apartment density to an existing apartment property in the Central Lonsdale area of North Vancouver.

1441 St. George’s Avenue is a rental apartment building at St. Georges and East 15th Street. The existing building is 14-storeys with a 2-storey commercial podium. The building contains 80 rental residential units and 52 commercial units.

The rezoning application is proposing to rezone the property to allow for the construction of a new rental tower on the West side of the site, including:

  • a 23-storey rental tower
  • 175 new rental units
  • 10 studios, 111 one-bedrooms, 114 two-bedrooms, 20 three-bedrooms (combined)
  • a total combined density of 6.29 FSR
  • purchase of 85,156 SF of density at $115 per SF

The site is currently zoned Central Lonsdale Mixed Use ‘C-1B’, which allows for a density of 2.60 FSR. The site is designated Mixed Use Level 4B land use in the Official Community Plan (OCR), which allows for an FSR of up to 3.0 with the potential for a density bonus of an additional 1.0 FSR.

1441 St. Georges1441 St. Georges_2

1441 St. Georges_3 1441 St. Georges_1 The architect for the project is MCM Partnership Architects.

The property sold in September 2016 for $37,500,000, or $310,000 per existing unit.

February 20, 2017by david.taylor@colliers.com
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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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