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: Vancouver House

Here is a brief construction update for Westbank’s much anticipated Vancouver House project; a 375-unit, 600,000 SF, 59-storey condo tower expected to be complete in 2018. The project is near sell-out with only a few units remaining.

VanHouse (1)

Courtesy: mcminsen http://po.st/hdNfqi via @imageshack

VanHouse (2)Courtesy: mcminsen http://po.st/rtJB4I via @imageshack

November 25, 2015by david.taylor@colliers.com
Development, Office

Wholesale/Office Buildings Planned for Former Terminal City Ironworks Site

A development application has been filed with the City of Vancouver for the former Terminal City Ironworks site, a 2.3 acre full city block in East Vancouver located at 1900 Pandora Street, with frontage on Franklin St., Victoria Dr. and Semlin Dr. The site, zoned I-2 industrial, was offered for sale in 2014 with Cushman Wakefield for $14.9M.

The history of the site, including its more recent use predominantly as a film shoot location, was reported by the Vancouver Sun earlier this year.

The current development proposal from Conwest Developments anticipates two new buildings including the following:

  • a 4-storey wholesale/office building accessed off of Pandora St.
  • a 3-storey wholesale building accessed of of Franklin St.
  • one level of underground parking
  • total building area of 202,262 SF
  • total density of 2.06 FSR

The use and density are conditional under the zoning and therefore requires approval of the Director of Planning.

The architect for the project is Taylor Kurtz.

1909 Franklin_21909 Franklin 1909 Franklin_1

November 25, 2015by david.taylor@colliers.com
Development

Condo Building Proposed for Little Mountain Area

While much of the buzz in the media has been focused on Holborn’s 15-acre site which is slated for approx. 1,400 units, the Little Mountain ‘Adjacent Area’ is quietly plodding along with redevelopment.

The latest application is for a two lot, 7,971 SF site assembly at 106-116 East 35th Avenue, adjacent Mosaic’s James Walk project, which quickly sold out earlier in 2015. The proposal, by Forrester Development Corporation, is for a 5-storey building that includes:

    • 18 units
    • a building height of 56 ft.
    • a  density of 2.3 FSR
    • 21 underground parking spaces and 23 bicycle spaces.

The application is being considered under the Little Mountain Adjacent Area Rezoning Policy. The architect for the proposal is Ankenman Marchand.106 East 35th Ave

126 East 35th Ave_1

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

Two More Towers for Brentwood Area

Millenium Developments is proposing a rezoning bylaw amendment to permit the construction of two condo towers in the Brentwood area of Burnaby. The site, located at 2630 Douglas Road, is south of Lougheed Highway near Holdom Station, in an area that is primarily still industrial uses.

The plan calls for two high-rise condo towers under the RM-5s and C1 guidelines, with some live/work units facing the street. Per the Brentwood Town Centre Development Plan, the maximum density would be 5.0 FAR. The parking would be located both above and below ground given soil conditions in the area.

2360 Douglas Rd

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

Market Spotlight: District of North Van Applications

The District of North Vancouver recieved a presentation last night showing the current status of rezoning, development and building applications in various areas. Here’s a snapshot:

DNVSource: http://app.dnv.org/OpenDocument/Default.aspx?docNum=2768209

November 17, 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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