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

Tower Proposal for Marine and Capilano Presented to Public

2 Rendering Grouse InnA rezoning application is in the works for the Grouse Inn site at Marine Drive and Capilano Road in North Vancouver. Rafii Architects Inc. has applied for the site owner – Pacific Gate Investments Ltd. The multi-tower mixed use project was envisioned in 2012/2013 in the Lower Capilano Marine Village Centre Plan developed by the District of North Vancouver.

2010 Capilano Road - Grouse Inn

The proposal is for 262 residential units and 36,000 SF of commercial space with a total Floor Space Ratio (FSR) of 2.5, broken down as follows:

Rendering Grouse InnHousing:

  • Townhouses: 10 units
  • Tower #1:  154 units
  • Tower #2:  98 units
  • Total: 262 units

Commercial:

  • Commercial 4-storey mixed retail and office building:  approx 30,000 SF
  • Commercial stand-alone restaurant:  approx 6,000 SF

Public:

  • Public Plaza at Capilano Road and Marine Drive:  approximately 5,000 sq. ft.
  • Public Park south of Curling Road:  approximately 7,500 sq. ft.
April 7, 2014by david.taylor@colliers.com
Development, Office

Five Ten Seymour Street

By ChangingCity

This project started out as something of a mystery in June of 2013 – an office building on a site on the corner of West Pender and Seymour Street. Right now there are two older 2-storey buildings, one is a sushi restaurant and the other (dating from 1905) currently vacant.

Five TenThe mystery was that as far as we knew there wasn’t either a rezoning or development application submitted, although the building was being marketed. The design by Musson Cattell Mackey initially was for a 9-storey building with 77,000 sq ft of space (right).

Now there’s a development application, it’s a 10 storey building, and the design has evolved into something that looks really much more interesting. Our image shows the view down Seymour, looking north. There are angled glazed sections in the Seymour facade that don’t show up well from this angle, but which add an extra level of variation on what is really a very efficient block floorplate.

The Urban Design panel are due to see it in April 2014, and given a positive response it’s scheduled for the Development Permit Board in June.

 …read more

Source: Changing City

April 6, 2014by david.taylor@colliers.com
Development

Prime City of Richmond Development Site Sold

Canada Sunrise Development Corp. has acquired a 4.91 acre site across from Lansdowne Mall on No. 3 Road in a $69,000,000 deal.

The site is identified as Urban Core T6 in the City of Richmond’s City Centre area plan.

Sunrise

Canada Sunrise is a Canadian subsidiary of UEM Sunrise Berhad, one of Asia’s largest and leading development corporations. They are currently nearing completion on the Quintet project further North on No. 3 Road.

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

Marpole Community Plan Before City Council Today

UPDATES VIA TWITTER

Marpole Community Plan adopted.

#Marpole Community Plan #MarpoleCP approved unanimously with minor additions to emphasise most significant community concerns #VanPoli

— Liveable Vancouver (@LiveableVan) April 3, 2014

Speaker in favour of revised #Marpole plan: “Far more reasonable balance between market forces & community values” than previous. #vanpoli

— NPA Vancouver (@NPAVancouver) April 2, 2014

 

Speaker proposing rental housing project on behalf of client for Southwest Marine Drive in #Marpole. To consider as part of plan. #vanpoli

— NPA Vancouver (@NPAVancouver) April 2, 2014

 

So far speakers are supportive of Marpole plan. Not perfect, but a step forward. Pleased at less single-family home rezoning #vanpoli

— emily jackson (@theemilyjackson) April 2, 2014

1st speaker to Marpole plan: supports plan, could not have asked for better process since Council agreed to extend consultation #vanpoli

— Van Mayor’s Office (@VanMayorsOffice) April 2, 2014

Staff say most #Marpole rezonings would not reach FSR noted in plan. A rare few “anomolous” properties might exceed FSR in plan. #vanpoli

— NPA Vancouver (@NPAVancouver) April 2, 2014

 

The revised Marpole Community Plan finally goes before council today — two years after city staff began working on it. Once adopted, the plan will guide growth and development over the next 30 years.

Residents protested the draft plan, largely over concerns about proposed rezoning of single-family areas, but the latest document appears to satisfy many critics, including Mike Burdick, spokesman for the Marpole Residents’ Coalition, who said the majority of the group’s members support the plan.

“The reason we’re in favour of it is because it basically fulfills our mandate when we started the coalition, which was to remove the single-family homes from the rezoning effort,” he said. “Almost 100 per cent of the single-family homes were going to be rezoned and now it’s only about 15 per cent.

Burdick acknowledged not everyone backs the document, “but they have a right to speak to that at the council meeting. As far as the organizing group goes, the people who have been to meetings for the last 10 months, we’re happy with it.”

(Tuesday afternoon, a copy of proposed amendment for the Marpole Plan was emailed to the Courier, which was drafted by Marpole residents Don Larson, Wendy Turner, Anita Romaniuk, Claudia Laroye, Gudrun Langolf, Ron Richings and Terry Slack. It asks that city council instruct city staff to investigate the undeveloped lands between Kent Avenue south to the Fraser River in the proximity of Cambie Street [to the west] with an intent to purchase one or more properties for the purpose of developing a ten-acre park. The proposed amendment asks that the park be created in the next two years and that a committee be formed to assist in developing and designing the proposed park and riverfront walkway.)

Read more: http://www.vancourier.com/news/developing-story-revised-marpole-plan-earns-support-1.938412

April 2, 2014by david.taylor@colliers.com
Development, Office

Construction Update: 745 Thurlow Street

745 Thurlow March 30th.jpg

Taken March 30, 2014 by Alex Wren

March 31, 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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