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

Low-rise Condo Project Eyed for Royal Oak and Imperial

A four-storey condo project is proposed for a long-vacant site at the southeast corner of Imperial Street and Royal Oak Avenue.

The site is made up 6808 and 6826 Royal Oak Ave and 5250 Imperial St. The proposal is for a mixed-use development with ground-floor commercial space and parking underground.

Rezoning for an earlier proposal was given third reading by council in 2008 but the owner has since revised the plan, making a new process necessary.

The current proposal is for commercial on both Imperial and Royal Oak with 45 apartment units on the three upper floors.

The units will comprise 15 one-bedrooms, 10 two-bedrooms, 17 two-bedrooms-plus-den units and three three-bedrooms-plus-den units.

Read more: http://www.burnabynewsleader.com/news/247098061.html

February 27, 2014by david.taylor@colliers.com
Development

Construction Update: MNP Tower

IMG_9040 by devguy920
IMG_9040, a photo by devguy920 on Flickr.

MNP Tower under construction on a beautiful winter day, February 25, 2014.

It appears that the tower will be topped out in the next couple of months.

February 26, 2014by david.taylor@colliers.com
Development

Construction Update: Telus Garden

IMG_0581 by devguy920
IMG_0581, a photo by devguy920 on Flickr.

Telus Garden office tower under construction February 25, 2014.

February 26, 2014by david.taylor@colliers.com
Development

Chinese Group Buys Camelot Estates Property in $17.6M Deal

Zhong An Real Estate (Canada) Ltd. has acquired a much publicized single family estate development site in the British Properties area of West Vancouver referred to as Camelot Estates. The 5.4 acre site, which has preliminary approval for a 12-lot high-end subdivision, sold for $17.6 Million, or approximately $1.5 Million per lot. It is unknown if the new buyer will pursue the same proposal as the previous group.

Camelot Estates

February 21, 2014by david.taylor@colliers.com
Development

Six More Storeys for Lower Lonsdale

Another midrise, mixed use condo building is coming to Lower Lonsdale.

Developer Fairborne Properties received second and third readings to a bylaw Monday night that will allow them to build 65 one-and two-bedroom condos above 7,200 square feet of commercial frontage at 117 – 135 West First St.

lolo

At 75 feet, the six-storey, wood-framed building fits within maximum height allowed in the official community plan.

In exchange for a small increase in density, Fairbourn is offering to restore and put heritage designation on the historic B.C. Telephone Commercial Building at 117 West First, currently home to flower shop Bella Doni and include 1,430 square feet of community amenity space fronting Rogers Plaza. City staff estimate the community space to have a value of $645,000.

The application includes a request for 146 parking spots – 24 more than the minimum required by city’s zoning bylaw. Council members, mainly accustomed to being asked

by developers to reduce the total number of required spaces, struggled with the request. The reason for the extra spaces, according to the developer, is that the condos are likely going to be popular with “downsizers” moving from single-family homes and wanting to keep two vehicles.

Read more: http://www.nsnews.com/news/six-more-storeys-for-lower-lonsdale-1.859547

February 20, 2014by 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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