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

First Tower at City of Lougheed to Include 566 Units

Shape Properties is proceeding with a formal rezoning application for the first residential tower in The City of Lougheed, the project name for the 40-acre Lougheed mall site that was approved for redevelopment under a master plan earlier this year to include 23 residential towers.

The application for the first phase of the project is in a prominent part of the site at the Southeast corner (Northwest corner of North Rd and Austin Ave). The plan includes:

  • a 55-storey residential tower
  • a total building height of 520 ft.
  • 566 units
  • 517,000 SF of residential area
  • a total density of 2.60 FAR
  • 590 underground parking spaces

The application describes the design: “The floor plates of the subject Tower 1 are arranged in two massing volumes that offer a different height extrusion of one part against the other. The larger of the two parts extends up to 55 storeys while the smaller part sits at 47-storeys. This arrangement provides for a landscaped terrace and exposed elevator core.”

lougheed-city_1

September 19, 2016by david.taylor@colliers.com
Development, Office

Manufacturing/Office Building Planned for East Vancouver Site

A development application has been submitted for an industrial-zoned property in the Strathcona area of East Vancouver. The plan for the 11,616 SF, I-2 zoned site at 1157 Parker Street is to develop a new four-storey, mixed-use building, consisting of:

    • Manufacturing uses on the first, second, and third floors (23,198 SF)
    • General Office uses on the third and fourth floors (11,650 SF)
    • Total building area of 34,848 SF
    • total density of 3.00 FSR
    • two levels of underground parking

Under the site’s existing I-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning. The architect for the project is Yamamoto Architecture.

The site was listed and sold by Matt Smith and Steve Fame of Colliers.

1157-parker

September 13, 2016by david.taylor@colliers.com
Development

Revised Port Moody Application Heading Back to Council

Aragon Properties is heading back to City of Port Moody council with a revised rezoning application for their site at 2713-2725 Clarke Street.

Aragon had submitted a rezoning application back in April 2016 for a 6-storey condo building per the guidelines in the OCP; however, several residents in Aragon’s previous project “The Station” spoke in opposition of the rezoning due to view loss. City council voted in favour of the residents and against the previously approved OCP by defeating the application at third reading. (all but the Mayor and one councilor voted in favour).

The application being brought back is still a 6-storey building with only a minor 2.5 ft. reduction in height.

If Council approves the required bylaw amendments, the project will go back to public hearing on October 11, 2016.

2713-clarke_1 2713-clarke

September 12, 2016by david.taylor@colliers.com
Development

31-Unit Townhouse Project Planned for Coquitlam

Mosaic Homes is planning a 31-unit townhouse project in the Partington Creek Neighbourhood of Northeast Coquitlam. The 2.2 acre site is located at 3539-3547 Victoria Drive at the corner of Rocklin Street, on the border with Port Coquitlam. The proposed rezoning to RT-2 Townhouse Residential includes:

  • 31 townhouse units in 2-3 storey buidlings
  • 3 and 4 bedroom units
  • Common amenity space
  • 55 parking spaces

3539-victoria_1 3539-victoria

 

September 12, 2016by david.taylor@colliers.com
Apartment, Development, Retail

Plan for Burritt Bros Site Includes 45 Rental Units

Landa Global has submitted their development application for the Burritt Bros site at Main Street and 20th in East Vancouver. Landa acquired the site at 3594 Main Street in a bid process in September 2015, for $11,400,000. Landa was featured in the Globe and Mail at the time of sale.

The plans for the 16,963 SF, C-2 zoned site includes:

    • a 4-storey building
    • 6,275 SF of ground floor retail
    • 45 rental apartment units
    • “high percentage” of family-friendly two-bedroom units
    • 2.5 FSR density
    • one level of underground parking with access from the lane

3594-main3594-main_1The architect for the project is Yamamoto Architecture.

September 9, 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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