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

Two 6-storey Buildings Planned for Marpole

Vanac Development has submitted an application to rezone two adjacent three-lot single family land assemblies for new 6-storey condo buildings under the Marpole Community Plan.

The two 18,000 SF sites are located at 470-486 West 58th Avenue and 469-485 West 59th Avenue and the two separate rezoning applications each call for a six-storey residential building, including:

    • a floor space ratio (FSR) of 2.50
    • a building height of 21 m (69 ft.) from grade;
    • 43 residential units; and
    • 63 underground parking spaces over one and a half levels 60 bicycle spaces.

469-west-59thThe applications are being considered under the Marpole Community Plan.

The architect for the project is Francl Architecture.

December 16, 2016by david.taylor@colliers.com
Development

54-Unit Building Planned for West 41st near Cambie

iFortune Homes has submitted a rezoning application for a three lot land assembly in the Cambie Corridor area. The address for the combined 21,342 SF site is 5733 Alberta Street and 376-392 West 41st Avenue. The preliminary plan calls for a 6-storey building that includes:

  • 54 market residential units;
  • 17 one-bedroom units, 23 two-bedrooms & 14 three-bedroom units
  • a building height of 69 ft.;
  • a density of 2.63 FSR; and
  • 62 underground parking spaces and 84 bicycle parking spaces.

5733-alberta 5733-alberta_1 5733-alberta_2The application is being considered under the Cambie Corridor Plan.

The architect for the project is GBL Architects.

December 11, 2016by david.taylor@colliers.com
Development

9-Unit Townhouse Project Proposed for Marpole

Coromandel Properties has filed a development application for a two-lot assembly on French Street in the Marpole area of Vancouver. The plans for the 9,723 SF, RM-8 zoned site is for:

  • a 9 unit courtyard rowhouse development
  • 1.20 FSR
  • underground parking accessed from the lane.

7871-french7871-french_1The architect for the project is Gateway Architecture.

Coromandel had acquired the lots in early 2016 for a combined value of $3,850,000, or approximately $330 per buildable SF. Coromandel is now under construction across the lane for The Leveson, at Granville and West 62nd.

December 9, 2016by david.taylor@colliers.com
Development, Retail

16-Unit Building Planned for West 17th & Heather

GBL Architects Inc. has applied to the City of Vancouver for permission to develop an 11,484 SF, C-2 zoned site at the corner of West 17th Avenue and Heather Street. The site is currently improved with a 3-storey walkup apartment building with ground floor retail.

Basic plan details consist of a 4-storey mixed use building with:

    • one level of Retail and four levels of Residential
    • 16 units
    • 10 two-bedrooms and 6 three-bedrooms
    • total density of 2.44 FSR
    • 2 levels of underground parking, having vehicular access from the lane.

711-west-17th_2711-west-17th711-west-17th_1Under 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 was listed for sale in early 2016 and sold to a numbered company for $9,100,000, or $325 per buildable SF.

December 9, 2016by david.taylor@colliers.com
Development, Office

Construction Update: The Exchange

Here is a brief photo update on the construction progress for The Exchange, a 31-store, 372,000 SF office tower at the corner of Howe Street and West Pender Street in Downtown Vancouver.

Construction got underway in early  2014 with the reconstruction of the old stock exchange building at 475 Howe Street.

The project is scheduled to be completed in 2017.

475-howe-1Photo courtesy mcminsen http://po.st/kowrls via @imageshack

475-howe-2photo courtesy mcminsen http://po.st/UtQBDn via @imageshack

475-howe-3photo courtesy mcminsen http://po.st/kPoDm6 via @imageshack

475-howe-4photo courtesy mcminsen http://po.st/MDf3K3 via @imageshack

December 4, 2016by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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