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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Apartment, Development

Proposal Received for ‘Gentle Densification’ in West Van

Renters could have more options in West Vancouver if Hollyburn Properties’ infill project is given the green light.

An additional 49 purpose-built rental units in two low-rise buildings could be built beside an existing highrise in Ambleside at 195 21st St.

The development proposal, Hollyburn Gardens, brings a change of pace for West Van.

24118northshoreinfillrental

In the last 30 years, most developers have steered clear of building rentals. There are currently 1,900 purpose-built rental units in West Van, most built during the 1960s and ‘70s in the Ambleside Apartment Area.

Many are vulnerable to loss as new developers move in and want to maximize the return on their investment in expensive district land.

Read more: http://www.northshoreoutlook.com/news/247300781.html

February 28, 2014by david.taylor@colliers.com
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
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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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