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

Plan for Site Next to Canada Line Station Includes 10-storeys

A rezoning application has been submitted for a site on Cambie at West 48th Avenue that includes a vacant lot that was left over after the Canada Line was completed. The plan for the two lot assembly is an interesting one and a slight departure for Cambie in that it proposes a 10-storey building that includes:

  • 59 residential units;
  • 12 one-bedrooms, 41 two bedrooms, 6 three-bedrooms
  • 1,069 SF of retail at grade;
  • a building height of 108 ft.;
  • a total density of 3.87 FSR; and
  • 44 underground vehicle parking spaces and 74 bicycle parking spaces.

478 48478 48_1478 48_2478 48_3The application is being considered under the Cambie Corridor Plan.

The architect is Hotson Architecture.

The two lots were assembled for a combined price of $11,800,000, or $198 per buildable SF.

February 6, 2017by david.taylor@colliers.com
Development

Construction Update: Connaught Edgemont Village

Here is a construction update for Connaught in Edgemont Village in North Vancouver. The 82-unit concrete project by Grosvenor is now close to sold out and excavation is nearly complete. When completed the project will contain a Thrifty’s to replace the Super Valu grocery store that previously occupied the site.
IMG_6093Photo courtesy 604 City on Flickr

February 3, 2017by david.taylor@colliers.com
Development

SOLD: 1574 Kingsway

We are pleased to announce the sale of 1574 Kingsway in Vancouver. This mixed-use residential/retail building sold for $2,750,000. The property was marketed and sold by our team in late 2016.

1574 Kingsway_SOLD

February 1, 2017by david.taylor@colliers.com
Development

Redevelopment Proposed for Chinese Presbyterian Church Site

A rezoning application has been submitted for the Chinese Presbyterian Church at 6137 Cambie Street, located on the West side of Cambie Street just a block south of Oakridge Centre.

The church sits on a 13,000 SF site that was redesignated under the Cambie Corridor Plan. The current proposal envisions redeveloping the church with a new 7-storey mixed-use building over two levels underground parking, including:

  • a replacement church on the ground level;
  • 68 childcare spaces;
  • a total of 20 secured market rental units;
  • a total floor area of 39,982 SF;
  • a total density of 3.08 FSR;
  • a building height of 83 ft.;
  • 56 vehicle parking spaces; and
  • 31 bicycle spaces.

6137 Cambie_2 6137 Cambie6137 Cambie_1The architect for the project is GBL Architects.

February 1, 2017by david.taylor@colliers.com
Development, Office

Bosa Hires KPF to Redesign 320 Granville Office Project

A new design has been presented for a previously approved office tower on the site of the current multi-level parkade at Granville and Cordova.

The site was previously approved in 2014 for a 32-storey, 380,000 SF office tower, but was subsequently sold by Greg Kerfoot to Bosa Development in July 2016.

The new design, by Kohn Pedersen Fox and Chris Dikeakos is a more interesting curved building form. The project now requires permission of the development permit board in order to proceed.

320 Granville_3 320 Granville_4 320 Granville_2 320 Granville_1Since the project was originally proposed, this block has seen lots of activity, with Morguard proposing a 25-storey office tower at the corner of Hastings and Seymour, and more recently, a 28-storey tower proposed for the mid-block site on Hastings just East of Granville.

If all three projects proceed, this represents a total of 760,000 SF of new office space in this block.

January 31, 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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