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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Development

4-level Townhouse Project Proposed Near Oakridge

Next Pacific has applied to rezone an 11,128 SF, two lot assembly site at 151-157 West 41st Avenue from RS-1  to CD-1 to allow a townhouse development that includes:

    • a 4-storey building on West 41st Avenue;
    • a 2.5-storey building on Woodstock Avenue;
    • 15 residential units between 833 SF – 1,847 SF
    • a total density of 1.9 FSR; and
    • 19 underground parking spaces and 25 bicycle spaces.

The application is being considered under the Cambie Corridor Plan and Riley Park/South Cambie Community Vision. The architect for the project is DYS Architecture.

151 West 41st 151 West 41st_1

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

15-Unit Townhouse Project Planned for Marpole

A development application has been filed for a new townhouse project in Marpole; one of nearly a dozen that have been brought forward in the new RM-8 zone created in the Marpole Community Plan in 2014. The proposal in question is by Alabaster Homes for a 22,027 SF site at 8107-8123 Shaughnessy Street (one block East of Oak). The site comprises an assembly of four existing single family lots. The proposal includes:

  • 15 courtyard townhouse units (1,426 – 1,712 SF)
  • 3 & 4-bedroom units
  • three 2.5 storey buildings
  • 28 ft. courtyard
  • one level of underground parking
8107 Shaughnessy_1

Existing 4-single family houses

8107 Shaughnessy 8107 Shaughnessy_2The architect for the project is Formwerks Architectural.

Alabaster has other townhouse projects in the works in Marpole, including Osler Residences (currently in pre-sales) and Oak & Park.

January 7, 2016by david.taylor@colliers.com
Development, Office

Construction Update: The Exchange

Construction for The Exchange is now above ground. The 31-storey, 369,000 SF office tower at the corner of Howe and Pender began construction in late 2014 and has involved the complex retention of the original Vancouver Stock Exchange building (475 Howe). The new building is slated for completion in early 2017. National Bank is signed on as the first major tenant, occupying 45,000 SF.

475 Howe 475 Howe_2Photos courtesy mcminsen http://po.st/5Xmz1b via @imageshack

December 23, 2015by david.taylor@colliers.com
Development

SOLD: 1946-1998 Glenaire Drive, North Vancouver

I am pleased to announce the sale of a 5-lot, 39,448 SF land assembly in the Lions Gate Village area of North Vancouver for $7,435,000. The lots have now been designated for townhouse development in the Lower Capilano Peripheral Area Plan. The buyer is PC Urban.

1946-1998 Glenaire

December 22, 2015by david.taylor@colliers.com
Development, Retail

Rezoning Planned for Super-8 Hotel Site

After an initial inquiry earlier this year, a formal rezoning application has now been submitted for the 1.8 acre Super-8 Motel site at the corner of Fraser and SE Marine Drive in East Vancouver (formerly known as the Blue Boy Motor Hotel).

The proposed plan for 725-747 Southeast Marine Drive, owned by Serracan Properties, is to rezone the existing CD-1 zoning to a revised CD-1 to permit a mixed-use development with commercial, residential, and community uses, including public open space. The proposal includes:

  • four buildings, including:
    • one 22-storey building;
    • one 12-storey building; and
    • two 5-storey buildings
  • approximately 368 residential units;
  • 15,500 SF of retail space at grade;
  • a 37-space childcare facility (4,760 SF);
  • public open space on site;
  • a total density of 3.98 FSR;
  • maximum building heights from 59 ft. to 207 ft; and
  • 377 vehicle parking spaces.

The application is being considered under the Sunset Community Vision. Serracan and the City of Vancouver held numerous open houses and public feedback sessions with the local community as part of an exhaustive preliminary planning and pre-application process.

725 SE Marine Dr_3 725 SE Marine Dr_4 725 SE Marine Dr_5 725 SE Marine Dr_6

December 22, 2015by 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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