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

49-Unit Project Planned for Brighouse Village Area

LW & Chen Development has applied to rezone a 26,142 SF site near the corner of Cooney Road and Park Road in Richmond. The plan calls for a rezoning under the Brighouse Village (City Centre) zoning to allow a 49 unit mid-rise and townhouse complex.

The site is located in the Urban Centre T5 zone, which allows a maximum of 1.2 FAR plus a bonus of 0.8 FAR which is conditional upon compliance with the Affordable Housing Strategy

Project details include:

  • Consolidation of three lots (6740 Cooney Road, 6731 Eckersley Road and 6751 Eckersley Road)
  • 41 apartment units, 8 townhouses all above underground parking
  • A total density of 2.0 FAR
  • 6-storey midrise building with 3-storey townhouses
  • Contribution of cash in lieu of affordable housing (less than 80 units)

6740 Cooney Road 6740 Cooney Road_1

 

April 30, 2015by david.taylor@colliers.com
Development

Construction Update: Trump Tower

April 29, 2015by david.taylor@colliers.com
Development

Stacked Townhouses Proposed for Royal Oak Area

An application has been made by SVM Developments to rezone a 23,923 SF site  at 6989-7029 Royal Oak Avenue in Burnaby from R5 to CD to allow a 3-storey, 23-unit stacked townhouse development with underground parking.

Royal Oak is an emerging area with predominantly ground oriented townhouse and 4-storey development. Prices are rising due to its walkable location to Metrotown and relative affordability compared to highrises closer in to the core.

A portion of the site at 7029 Royal Oak Avenue was purchased from the City of Burnaby in November 2013 for $112 per SF of land.

Further details include:

  • a density of 0.9 FAR
  • Total floor area of 20,684 SF
  • 23 Two-bedroom townhouse units
  • 41 underground parking stalls

7029 Royal Oak

 

 

April 29, 2015by david.taylor@colliers.com
Apartment, Development

Market Spotlight: City of Vancouver Rezoning Applications

Here is a brief overview of City of Vancouver rezoning applications going before City Council next week:

468 West 33rd Ave & 4956-4958 Cambie Street

468 West 33rdThis application was made by Kenstone Properties back in August 2014.

The proposal is for a 65-unit, 6-storey condo building at the Southeast corner of 33rd and Cambie. If approved by council it will go to public hearing next.

5648-5678 Victoria Drive

5678 VictoriaThis proposal, by Bhandal Homes, is for a 6-storey, 48-unit market rental apartment building with retail at grade. The site is currently zoned C-2, but the application for greater density (3.48 FSR) is being made under the Rental 100 policy.

It is seeking to go to public hearing.

3819 Boundary Road

3819 BoundaryThis is another market rental application being made under the Rental 100 program. The plan for this site, originally conceived in 2013, is to rezone from C-1 to allow a 4-storey building with 23 rental apartments. If approved it goes to public hearing.

April 24, 2015by david.taylor@colliers.com
Development

Marpole Proposal Turns 4 Single Family Houses into 18 Townhouses

A development proposal in Marpole for a 21,160 SF at West 63rd Avenue and Manitoba is taking advantage of gentle densification now permitted in the Marpole Community Plan.

The proposal by Belford Properties anticipates turning four single family lots, recently rezoned by the City to RM-8 zoning, into 18 townhouse units in two rows of buildings above one level of underground parking. Nine of the units fronting the lane have basement-units that can be locked off for separate suites. The maximum allowable density in the RM-8 zone is 1.20 FSR.

  • The site is 184′ x 115′
  • The gross buildable area is 25,518 SF

7900 Manitoba 7900 Manitoba_1 7900 Manitoba_2

 

April 21, 2015by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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