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

Big Plans for Burnaby’s Woodlands Neighbourhood

Peppered with industrial businesses, Woodlands doesn’t look like Burnaby’s next up-and-coming neighbourhood.

But Concord Pacific and the City of Burnaby have an ambitious plan for the 26-acre area, which lies south of Lougheed Highway, east of Beta Avenue, west of Delta Avenue, and extends south toward the rail line.

Burnaby’s planning and building director Lou Pelletier detailed the site concept in a report presented to council at Monday night’s meeting.

“The hard work that’s been done by staff with the developer and the committee in order to make this what I think is a very innovative plan, and one that reflects the best use of the Brentwood Town Centre, is, I think, extremely important,” Mayor Derek Corrigan said at the meeting. “This is a site that has, I think, provided all of us with a few headaches over the years, but it seems we’ve come to a pretty good resolution, and hopefully the community will agree as they go for their consultation.”

The plan  is divided into six areas: the Lougheed parkway at the north end of the site would include a centre median landscaped with trees, shrubs and ambient lighting, according to the report.

The hillside area would include up to four high-rises ranging from 35 to 55 storeys with the option of townhouses on the southern slope. The plan also includes a grand staircase leading south from Lougheed Highway to Yukon Crescent. The hillside would overlook park space to the south.

Read more: http://www.burnabynow.com/news/big-plans-for-burnaby-s-woodlands-neighbourhood-1.1787557

March 11, 2015by david.taylor@colliers.com
Apartment, Development

Rental Apartment Building Planned for Norquay Village Area

A rezoning application has been submitted for a 12,011 SF site in the Norquay Village area of East Vancouver. The site consists of three single family lots located at 2312-2328 Galt Street. It is currently zoned RS-1 single family and is being proposed for a 4-storey apartment building. It is located in an area of the Norquay Village Plan that is considered an apartment transition area. The proposal includes:

    • 28 secured market rental units;
    • a density of 2.25 FSR
    • a building height of 41.5 ft.
    • 24 underground parking spaces.

This application is being considered under the Norquay Village Apartment Transition Area Rezoning Policy and the Secured Market Rental Housing (Rental 100) Program.

2312 Galt 2312 Galt_2

March 4, 2015by david.taylor@colliers.com
Development

Nine Granville Street Lots Sell

With nine ‘SOLD’ signs in a row prominently featured on Granville Street, this has hardly been kept a secret, but the nine lots listed by Michelle Yu of RE/MAX on the West side of Granville Street have sold. While only 7 of the 9 lots appear to have completed already for a purchase price of $22,100,000, it is likely that the total assembly will approach the asking price of $33,640,660. The buyer is Hui Xiang International Realty Developments Ltd.

The site covers a 612.75 ft, two-block stretch of Granville Street from West 45th to West 47th Avenue. The lots are presently zoned RS-3 and the brochure describes “potential rezoning for multifamily”.

6137 Granville

March 4, 2015by david.taylor@colliers.com
Development, Office

Construction Update: 745 Thurlow Street

Exterior work on Bentall/bcIMC’s 745 Thurlow project appears to be nearing completion.

Photo by 604 City on Flickr

March 4, 2015by david.taylor@colliers.com
Development

6-Storey Building Proposed for Cambie Corridor

Pennyfarthing Developments has applied to rezone a 22,166 SF site at Northeast corner of Cambie and West 26th Avenue. The plan for 4162-4188 Cambie Street is to rezone from RS-1 to CD-1 for a 6-storey condo building that includes:

    • 56 units
    • a building height of 64 ft. from grade
    • a density of 2.56 FSR
    • 66 underground parking spaces

4162 Cambie 4162 Cambie_2

March 3, 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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