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, Retail

Revised Oakridge Centre Proposal Moves Closer to Public Hearing

A revised rezoning application has been presented for Westbank and Ivanhoe Cambridge’s plan to rezone and redevelop the 28-acre Oakridge Centre property. This is expected to be the last round of formal open houses for the rezoning before the proposal heads to the Urban Design Panel and then on to Public Hearing.

Proposed changes from 2012 version:

oakridge_1Oakridge Height Changes

Oakridge Height Changes

Oakridge_retail

Aerial View Looking North
Entrance Promenade (41st and Cambie)
Centre Court

Looking west along West 41st Ave
Oakridge Community Commons View

October 4, 2013by david.taylor@colliers.com
Development

Delta Rise Tower Unveiled in North Delta

What will Delta Rise, the municipality’s tallest tower, look like?

Politicians and journalists were given a sneak peek Wednesday at an architect’s model of the building, as well as a tour of two styles of suites the 37-storey building will contain.

blexoThe Blexo Developments Ltd. project won Delta council’s approval earlier this year and construction is expected to begin next June and be completed in 2016.

The apartment building project, just south of the Delta Shoppers Mall off Scott Road, will be located at 11941 80th Avenue and will be the community’s tallest building by far. Three 14-storey buildings currently share that distinction in North Delta. One is at 88th Avenue and 119th Street and the other are two across the street from where this new apartment building containing 317 suites will be built.

See more at: http://www.thenownewspaper.com/news/delta-rise-tower-unveiled-in-north-delta-1.646497#sthash.1b9MSgLK.dpuf

October 3, 2013by david.taylor@colliers.com
Development

Concord Pacific Unveils Plans for 1,300 Units Near B.C. Place

Concord Pacific has unveiled plans for a new neighbourhood of 1,300 condominiums in eight buildings by the northern end of Cambie Bridge near BC Place.

Part of the downtown’s new sports and entertainment district, the neighbourhood is being called False Creek Central.

False Creek Central

The area includes a new $535-million casino, hotel and entertainment complex being built next to BC Place by Paragon Gaming Corp. Last week, Paragon announced it has revamped its proposal for the project, which included no plans to expand gambling. Paragon proposed to relocate Edgewater Casino at its existing size.

The development proposal is significant both in size — as one of the largest in the city’s history — and in meaning, according to architect and planner Michael Geller.

Read more: http://www.vancouversun.com/Concord+Pacific+unveils+massive+Vancouver+development+near+Place/8989658/story.html#ixzz2gfhRS1Im
October 3, 2013by david.taylor@colliers.com
Development

52-Storey Tower Proposed for Brentwood Area

Ledingham McAllister is proposing a 52-storey residential tower at Gilmore Ave. and Halifax St., next to their existing project “Aviara” which is now close to half sold and is currently under construction. The proposal will head to Burnaby City Council next week and if approved, will reach first reading and public hearing in October.

“Aviara II” will include 595 residential units located in a 52-storey tower at the corner of Halifax and Gilmore, with two 4-6 storey buildings located along the Gilmore and Douglas Road frontages. The 2.9 acre site is large enough to accomodate three 25-storey towers, but Ledingham was encouraged to pursue a higher tower to preserve views for developments to the South.The proposal includes 715 parking spaces.

The development is being built at an overall density of 5.0 FAR, after a density bonus of 1.6 FAR under the City of Burnaby’s Brentwood Town Centre “s” designation. The bonus density is being valued at $73 per SF, or $13,265,779.

1713 Douglas Rd

 

September 27, 2013by david.taylor@colliers.com
Development

Paragon Reintroduces BC Place Casino/Hotel Proposal

Paragon Development Ltd. has reinvented its proposal for a $535 million redevelopment of the south side of BC Place Stadium as what they are calling an urban resort that plays up entertainment and plays down gambling with the relocation of its Edgwater Casino on False Creek.

Paragon’s last plan, in a lease deal with the BC Pavilion Corporation, was rejected by the City of Vancouver in 2011 over the proposal’s expansion of its gaming floor, but company officials said Tuesday that they’ve listened to their opponents and the new proposal is a straight transfer of Edgewater’s existing operations to the new facility, which fits into the city’s existing rezoning approval.

Paragon, with financing partner Dundee Corp.’s and operating partner 360 Vox, a real estate management company, unveiled the revamped design Tuesday, which calls for two luxury hotels with 550 rooms, a conference centre restaurants and retail space that will be linked in with BC Place.

The overall development will be 675,000 square feet of space and create an additional 2,000 jobs within the complex. Developers are aiming for completion of the project in 2016.

Read more: http://www.vancouversun.com/business/commercial-real-estate/Paragon+Gaming+offers+million+resort/8952619/story.html#ixzz2fqQS3bFw

 

September 24, 2013by 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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