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

Larco’s 451-unit Capilano Village Project at Rezoning

Larco has submitted their rezoning application for the 4.4 acre site that they own in the Lower Capilano area; home to a former athletic club near Capilano Road and Marine Drive. This project will be adjacent to another 262-unit two-tower project announced earlier this year.

The plan calls for a mixed use project which would include 451 residential units, a small amount of at grade commercial, a mini-storage operation, and a public community centre.

Capwest_2

The proposal is to build this project in four phases over ten years, with the community centre targeted to begin construction in year seven. Project details include:

  • A total of 451 residential units;
  • An 18-storey residential tower and a 12-storey residential tower;
  • Three 6-storey apartment buildings, one of which is a market rental building;
  • A 4-storey apartment building (two storeys over top of the community centre);
  • A 4-storey seniors’ rental building;
  • Twenty 2 and 3-storey townhouse units.
  • A 26,550 SF community centre on the north side of the public plaza in the foot of the 12-storey tower;
  • A public plaza in line with the future cross roads;
  • A continuation of the open space with the village green park area next to the plaza;
  • A new greenway trail along the western edge of the site;
  • 4,200 SF of commercial space next to the public plaza; and
  • A 125,000 SF underground mini-storage facility in the 3rd level of the basement.

CapwestLarco Cap_3

September 5, 2014by david.taylor@colliers.com
Development

126-unit Building Planned for Mount Pleasant

A development application has been made for a site located at 311 East 6th Avenue, at the NE corner of East 6th and Scotia Street. The plan for the IC-3 zoned site is for a 6-storey building with 68 Artist Studio units, and 58 standard residential units. The building will incorporate an industrial feel into the design including brick, window wall and miscellaneous steel. Details include:

  • A total floor area of 85,588 SF
  • A total density of 4.73 FSR
  • 113 underground parking spaces

311 East 6th311 East 6th_2

The site was acquired earlier this year for $3,000,000 by Jameson Development Corp.

September 4, 2014by david.taylor@colliers.com
Development

What West End Infill Looks Like

Here’s an update on a property I sold earlier this year at 1546 Nelson Street, which is now going through the development permit process to add laneway housing.

The existing 6-unit residential building is located on a 33 ft. site zoned RM-5, but the new West End Community Plan allows conditional laneway units. The proposal includes:

  • 4 new residential units
  • Ground-oriented family housing
  • Landscaped inner courtyard
  • Zero parking spaces
  • Total density of 1.71 FSR

1546 Nelson_Sep 14 1546 Nelson_Sep 14_2 1546 Nelson_Sep 14_3

September 4, 2014by david.taylor@colliers.com
Development

Market Spotlight: 137 Keefer Street

By ChangingCity

137 Keefer model

We had noticed some site cleanup on a 25 foot lot on Keefer Street (to the east of the heritage building with the Keefer bar). Now we know what’s proposed to go there – “To develop a nine-storey, multiple-family dwelling building with a commercial retail unit on the main floor, providing 19 parking spaces over four levels (via automated parking system) having vehicular access from the lane”. It heads to the Urban Design Panel in a week, so it will be interesting to see what they make of the scheme.

The plans have been drawn up by Stantec Architecture, but we think we detect a design initiated by the developer, James Schouw, most recently associated with Artimesia on Hornby Street.

…read more

Source:: Changing City Updates

September 4, 2014by david.taylor@colliers.com
Development

101-unit Building Proposed for Royal Oak Area

Thind Developments has applied to the City of Burnaby for rezoning of 6205-6255 Kingsway to allow a 4-storey mixed-use development with full underground parking. The site is currently occupied by a strip retail centre and the Intercity Motel. The total site area is 45,307 SF, and the zoning designation is C-9. The project includes:

  • Total density of 2.2 FAR
  • 101 units
  • 187 parking spaces

6205-6255 KingswayThe property was assembled in 2012-2013 for a total of $5,730,000, or $57 per buildable SF.

August 28, 2014by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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