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

Construction Update: Trump Tower

Here is an update on one of Downtown Vancouver’s most prominent projects: Trump Tower. The building topped out last summer, and the exterior work is now nearing completion. By all accounts, the residential pre-sales have done well, with only a couple of penthouse units remaining unsold.

Occupancy is expected this summer.

Trump_Mar 2016 (3)

courtesy mcminsen http://po.st/YPFOMh via @imageshack

Trump_Mar 2016 (2)

courtesy mcminsen http://po.st/vxukyd via @imageshack

Trump_Mar 2016 (1)

courtesy mcminsen http://po.st/s7ftkL via @imageshack

March 16, 2016by david.taylor@colliers.com
Apartment, Development

Redevelopment of Masonic Centre to Include 18-storey Rental Tower

The Vancouver Masonic Centre has submitted a rezoning application for their property at 1495 W 8th Avenue (between Granville Street and Hemlock Street). The plan the 23,983 SF site is to rezone from the current C-3A to a CD zone to permit a new four-storey building on West 7th Ave., connected to an 18-storey secured rental residential building on 8th Ave. The proposal includes:

    • 159 rental apartment units (mix of non-market and market units);
    • A neighbourhood restaurant on West 7th Ave.;
    • A height of 174 ft;
    • A total density of 5.96 FSR.

1495 West 8th 1495 West 8th_1 1495 West 8th_2

 

March 9, 2016by david.taylor@colliers.com
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
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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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