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, Retail

Pacific Centre Expansion to Include 31,600 SF of New Space

Cadillac Fairview has applied to the City of Vancouver for permission to replace the existing rotunda at Pacific Centre with a new three-storey retail building consisting of:

    • 31,603 sq. ft. of new retail space; and
    • a peak height of 63 ft.

Under the site’s existing CD-1 (455) zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

701 West Georgia_2

701 West Georgia_1 701 West Georgia

The application describes the design rationale:

“Cadillac Fairview has embarked on multi-phase refresh and updating of the Pacific Centre Mall complex, creating a world class high-end retail centre in the heart of Vancouver. With the introduction of Holt Renfrew a number of years ago and its current expansion, the recently retrofitted Sears building into a new Nordstrom’s and now the reimagining of the Rotunda pavilion at Georgia and Howe. In keeping with the recent developments throughout the Pacific Centre complex, the new Georgia street retail pavilion comprises a similar family of strong timeless design moves. The new Pacific Centre, Georgia street pavilion will feature a strong and expressive roof line, a clear reading of the buildings massing elements and a restrained palate of high quality materials.
The building form consists of glazed retail frontages along Georgia and Howe Streets, Six retail ‘Lanterns’ at the second floor along Georgia Street connect the upper retail to the street and an outdoor restaurant deck at the third floor with a large cantilevered timber canopy overlooking Georgia street and a redeveloped VAG north plaza. The very visible roof-scape will use the strong geometric grid of raised planters and skylights which reflect the geometry of the building façades.
The presence of the six retail ‘Lanterns’ is intended to make more legible, to the surrounding urban environment, the social and transactional nature of the new pavilion’s intended use. Key to this design is the use of high quality cladding materials, dark stone, timber soffits, glass retail fronts and vertical screening.”
701 West Georgia_3

Perkins + Will Architects Canada are the architect for the project.

August 3, 2016by david.taylor@colliers.com
Development

Another Highrise Proposal for Brentwood Area

On the same day that Onni is submitting a formal rezoning application for it’s first phase of 3 residential towers at Gilmore Station, another rezoning application has been filed for a site just East of Onni’s land in the rapidly developing Brentwood area of Burnaby.

The application is being made for a currently industrial property at 4285-4295 Dawson Street, at the northwest corner of Madison Avenue. The site is 56,500 SF. The site is designated in the Brentwood Town Centre Plan a mixed use high-density (RM-5s).

The preliminary proposal by Imani Development, is for a mixed use development comprised of retail, office and a highrise residential tower, to a maximum density of 6.0 FAR, with a residential density of 5.0 FAR.

The application notes that the tower height would be 431 feet, or likely around 40-45 storeys.

4285 Dawson

July 25, 2016by david.taylor@colliers.com
Development

Condos & Retail Proposed for North Vancouver Site

A rezoning application has been submitted for a 20,730 SF site at 711 West 14th Street in North Vancouver, near the intersection of Marine Drive and Bewicke Avenue. The CS-1 zoned site sits directly North of the recently completed “700 Marine” project.

The proposal by Regency Group/Razgul Holdings, named “The Five Points”, is a new 4-storey building that includes:

  • 44 condo units (including 21 two-bedrooms and 3 three-bedrooms)
  • 4,674 SF of retail space in 6 CRUs
  • a total density of 2.0 FSR
  • 63 underground parking stalls

711 W 14th711 W 14th_1711 W 14th_2

July 25, 2016by david.taylor@colliers.com
Development

FOR SALE: Port Moody Residential Development Site

I am pleased to introduce this remarkable mid-rise residential development opportunity in Port Moody. Please download the brochure below for more information.

3000 Henry_BRODownload the brochure here: Brochure_3000 Henry Final E

3000_Henry_Street_PortMoody_July2016 (39)

Site Photo

July 20, 2016by david.taylor@colliers.com
Apartment, Development

Rental Apartment Building Planned for Cambie Corridor

Strand Development has submitted an application to rezone a 20,727 SF 3-lot land assembly at 210-262 West King Edward Avenue on the Southwest corner of Columbia and King Edward from RS-1 to allow a rental residential development that includes:

    • one 4-storey building on West King Edward Avenue with 2-storey townhouses facing the lane;
    • 52 market rental apartment units;
    • 3 studios; 29 one-bedrooms; 15 two-bedrooms & 5 three-bedrooms
    • a building height of 44 ft. from grade;
    • a total density of 1.77 FSR; and
    • 54 underground parking spaces and 66 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

210 W King Edward 210 W King Edward_1The architect for the project is Yamamoto Architecture.

July 11, 2016by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

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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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