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

43-unit Condo Building Proposed for West King Edward

Pennyfarthing Development Corp. has made an application to rezone an assembled site at 357-391 West King Edward Avenue (one block East of Cambie) from RS-1 to CD-1  District.  The proposal is for a residential development consisting of one 4-storey building and 2-storey townhouses along the lane.

The proposal includes:

    • 43 residential units;
    • a maximum building height of 50.5 ft
    • a total density of 1.88 FSR
    • 48 underground parking spaces.

The 22,956 SF site was assembled last year for a total of $6,985,000, representing $162 per buildable SF.

357 King Edward_2 357 King EdwardLearn more: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/357-391wkingedward/index.htm

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

Another Proposed Rental Project, On Fraser Street

Another application for a rental apartment project has been submitted under the Rental 100 incentive program; this time in South Vancouver. The application is to rezone 7350 Fraser Street from RT-2  to CD-1 to allow a 6-storey rental building that includes:

    • 96 secured market rental units
    • a building height of 45.3 ft
    • a density of 2.61 FSR
    • 78 underground parking spaces

7350 Fraser Street_2 7350 FraserLearn more here: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/7350fraser/index.htm

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

Edgemont Village Plan Nearly Complete

The District of North Vancouver is in the final stages of consultation and planning regarding the Edgemont Village Centre Plan. The Plan has been in the works for several years, and finally began a process of public consultation in February 2013; partially as a result of development proposals forthcoming on the old Petro Canada site, as well as Grosvenor’s SuperValu site.

Edgemont Village PlanLearn more on the District’s site: http://www.dnv.org/upload/documents/Council_Agendas_Minutes/140205CW_AGN.pdf#page=1

February 4, 2014by david.taylor@colliers.com
Development, Investment

Judge Backs Forced Sale of North Vancouver Complex

A recent B.C. Supreme Court decision has paved the way for owners of an apartment and townhouse complex in North Vancouver to sell to a developer – despite the wishes of some owners to stay put.

B.C. Supreme Court Justice Lauri Ann Fenlon recently sided with the majority of owners of Seymour Estates on Lytton Street, who asked the court to approve the sale of the entire property.

That decision satisfied the vast majority of owners, who argued in court they’ll get more money by selling as a group than they could individually and avoid potentially costly repair bills as the 40-year-old complex ages.

For a small group of owners, however, the decision could force them to move off the North Shore, where they have community ties, if they can’t find similar affordable housing – or out of the housing market entirely.

Read more: http://www.nsnews.com/news/judge-backs-forced-sale-of-north-vancouver-complex-1.810849

February 3, 2014by david.taylor@colliers.com
Development

Another Cambie Street Proposal; This Time on a Small Site

An application has been submitted under the Cambie Corridor Plan to rezone 7790 Cambie Street from RT-1 to CD-1 to allow a 6-storey rental building that includes:

  • 27 market housing units;
  • a building height of 70.5 ft. from grade;
  • a density of 2.70 FSR
  • 23 underground parking space

What’s unique about this proposal is that the site is only 118 ft x 72 ft. (8,501 SF).

7790 Cambie7790 Cambie_2

February 3, 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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