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, Retail

Construction Update: 245 East Georgia

Here is a construction update on an interesting infill project in Chinatown that was approved under the Rental 100 program in 2013. 245 East Georgia St. is a 9-storey apartment being built on a 25-foot lot. As described on Gair Williamson Architect’s website:

“The design is for 40 studio apartments ranging in size from 320 to 360 square feet and a commercial unit at the ground level. All units have floor to ceiling glazing with either juliet windows or a balcony, there is also a communal roof deck providing opportunities for urban agriculture.”

There will also be retail on the ground floor.

68XTFEPhoto courtesy mcminsen http://po.st/GUBcQ6 via @imageshack

AJPvwVPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

G4lGGSPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

static1.squarespace.comhttp://www.gwarchitects.ca/245-east-georgia-street/q9o9orelcnkzsotggn08ksgz4aniul

The site was sold by Colliers in 2012 for $1,150,000.

March 8, 2016by david.taylor@colliers.com
Development

SOLD: 1745 West 8th Avenue

Colliers has completed the sale of 1745 West 8th Avenue, Vancouver; a 55,550 SF C-3A zoned property in the South Granville area. The property has been acquired by Delta Land Development.

1745 West 8th Avenue

March 3, 2016by david.taylor@colliers.com
Apartment, Development

Rental Building Planned for Mt. Pleasant

A development application has been filed for a 49.5′ x 122′ RM-4 zoned site at 944 East 8th Avenue, between St. Catherines and Windsor Streets near Vancouver Community College. Details of the proposal include:

  • 4-storey woodframe apartment
  • 15 market rental apartment units
  • a total density of 1.45 FSR (8,749.3 SF)
  • elevator
  • a building height of 39.9 ft
  • 2 car-share parking spaces

The existing property is a 3-storey walkup apartment with 6 units that sold to the current owner for $1,250,000.

The developer is seeking relaxations on height and parking in order to build rental units.

944 East 8th Ave_1944 East 8th Ave

 

March 2, 2016by david.taylor@colliers.com
Development, Office, Retail

Construction Update: Solo District

Here is a construction update on the second phase of Appia’s Solo District project in the Brentwood Area of Burnaby.

The first phase of the project included a tower branded ‘Stratus’, a 367-unit 45-storey tower which has just recently completed and which is substantially sold out. Burnaby’s first Whole Foods is an anchor of the retail component of the project.

The second phase of the project is ‘Altus’, a 48-storey tower at the corner of Lougheed and Willingdon that includes 284 condo units above 250,000 SF of office space on 12 floors. Pre-sales launched in 2013 and this phase of the project is also nearing sell-out.

Solo District Feb 2016 (1)

photo courtesy mcminsen http://po.st/RDvsVU via @imageshack

Solo District Feb 2016 (3)

photo courtesy mcminsen http://po.st/avE0BU via @imageshack

Solo District Feb 2016 (2)

photo courtesy mcminsen http://po.st/ut93EP via @imageshack

February 24, 2016by david.taylor@colliers.com
Development

Next Phase of Station Square Project Includes Metrotown’s Tallest Building

Development plans are going ahead for the 3rd and 4th phase of Station Square, a multi- phase mixed use development including five residential towers in Metrotown being developed by Anthem Properties in conjunction with the Beedie Group.

The rezoning for the project was granted back in 2012 at which time pre-sales commenced for the first phase, which included a 35-storey tower and 269 units. The first tower recieved occupancy in 2015. The second phase entailed two towers of 38 & 48 storeys, now under construction.

Plans for the 3rd and 4th phase, located along the Mackay Avenue frontage, total 758 new units, and includes:

Phase 3 Tower

  • 41-storey residential tower above a 3-storey podium
  • 461 ft tower height
  • residential, office and retail use
  • 334 residential units
  • 47,470 SF of commercial space
  • 612 parking spaces

Phase 4 Tower

  • 52-storey residential tower above a 3-storey podium (new tallest in Metrotown)
  • 565 ft tower height
  • residential, office and retail use
  • 424 residential units
  • 65,960 SF of commercial space
  • 627 parking spaces

station-square-rendering

http://www.vancouver-real-estate-direct.com/buzz/2012/07/burnaby-station-square-condos/

 

February 24, 2016by 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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