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

Advisory Report Suggests Building Broadway Transit Line in Phases

The City of Vancouver should consider building a new transit line along Broadway in phases, while restricting high density to the busy commercial core to preserve the city’s character in the neighbourhoods along the route, according to a new report.

Issued by the Urban Land Institute’s Governor’s Advisory Panel, the report suggests the public should also be consulted, noting Vancouver “did not balance zoning changes with economic potential and community livability” when it built other mass transit projects — specifically the SkyTrain ahead of Expo 86 and the Canada Line for the 2010 Winter Olympics.

“Invariably, stakeholders perceived that neighbourhood impacts were overlooked or under-represented in order to fast-track major transportation projects. ‘Blanket up-zones’ were applied at transit hubs, leading to rampant speculation and dislocation of residents and businesses,” said the panel, which included experts from across North America.

“Although the panel recognizes that the market may ultimately dictate a lot of development decisions that accompany the growth in population and the increased opportunities that a mass transit line brings, it also recognizes that the local neighbourhoods and districts give Vancouver much of its charm.

Read more: http://www.vancouversun.com/sports/Advisory+report+suggests+building+Broadway+transit+line/10027082/story.html

July 14, 2014by david.taylor@colliers.com
Development

Market Spotlight: The Flats – 217 East Georgia

By ChangingCity

FlatsWe first mentioned this Chinatown building three years ago. It is a 9-storey, 26 unit residential building with retail and parking at grade. The lot it’s built on is only 25 feet wide, but the building sits next to a lane, looking onto the back of a parkade.

The design, by Birmingham and Wood with ASIR Architects has a grey and yellow palette (a refreshing change from the ubiquitous Chinatown red) and a contemporary take on the Chinatown balcony/screen idea.

Construction has seemed at times to be painfully slow – the construction method is unusual (and we think it’s the first time it’s been used in the city). A series of hollow metal frames, a storey high, form the party wall with the building to the east. Reinforcing rods run vertically through the frames, and concrete was pumped into the frame, creating a solid flank wall. The outer wall was built with similar frames but those didn’t have the concrete liner.

The original design showed some greater variation on the flank wall, with yellow window surrounds. Instead there are random yellow and cream vertical panels.

We assume that once the building is occupied the owners won’t necessarily keep the yellow shutters closed …read more

Source: Changing City

July 14, 2014by david.taylor@colliers.com
Development, Office

Construction Update: MNP Tower

Taken by 604 City. July 9, 2014

July 11, 2014by david.taylor@colliers.com
Development

West Vancouver Mulls Park Royal Towers

While the proposed Park Royal highrises were heralded as an opportunity to bring in affordable housing for disabled people, the mall itself was also called out as being a bad neighbour at the District of West Vancouver’s Monday night council meeting.

Proposed Towers

Proposed Towers

The shopping centre’s proposed two towers of 24 and 17 storeys above a twostorey commercial podium at 752 Marine Drive could include more than a few hundred residential units, office space, a village square and storefronts. It may also provide the Vancouver Resources Society, a nonprofit that provides services for the physically disabled, 10 accessible units for those with a disability or mobility issues.

On Monday night, council was updated on the status of the proposed towers that may take over the former White Spot location. Andrew Browne, senior community planner, told council following a staff review and obtaining preliminary public comments, the project was found as favourable overall.

Read more: http://www.nsnews.com/news/west-vancouver-mulls-park-royal-towers-1.1198938

July 10, 2014by david.taylor@colliers.com
Apartment, Development

108 Unit Apartment Building Proposed for Central Lonsdale

The owner of two rental apartment buildings at 141 & 147 East 21st Street in North Vancouver has applied to rezone the properties to allow a new 6-storey rental apartment building. The application for the site, which is located behind the London Drugs on Lonsdale, proposes to demolish and replace the existing buildings on site with a new building. The redevelopment would result in a net increase of 74 units. The site is 27,670 SF in size and the total proposed density is 72,613 SF, resulting in a total density of 2.53 FSR. The provision of rental under a secured agreement is considered the CAC for the rezoning.

141-147 East 21st Ave 141-147 East 21st Ave_2

 

July 4, 2014by 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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