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

Stretch of Burnaby’s Hastings Could Get Taller

Stretch of Burnaby’s Hastings could get taller – Burnaby NewsLeader.

A stretch of the north side of Hastings Street could get taller now that a four-storey mixed use development is being proposed for three lots west of Macdonald Avenue.

A public hearing will be held Sept. 24 at 7 p.m. in Burnaby city hall council chambers for the application to rezone 3951, 3959 and 3975 Hastings St. which are currently home to older, one and two-storey commercial and mixed-use buildings, according to a city staff report.

The proposal, designed by Chris Dikeakos Architects [for Bosa], is for a project with commercial space on the ground and mezzanine levels with three stories of condominium apartments above. All parking would be underground with vehicle access from the rear lane.

To meet the requirements of the C8a Hastings urban village commercial district, the development would include a lighted pedestrian walkway within a statutory  right-of-way linking Hastings to the north.

And while the C8a zone restricts an individual user of a  ground-floor commercial space to a maximum building frontage of 66 feet, the report said city staff may support a future relaxation of the restriction for suitably-designed cafes, restaurants, food stores and retailers if needed.

Read more: http://www.burnabynewsleader.com/news/221662901.html

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

Yuanheng Proposing 65-unit Project at King Edward Station Site

Yuanheng Development has applied to the City of Vancouver to rezone 4099 Cambie Street from C-2 to CD-1 per the Cambie Corridor Plan. Colliers sold the site, which sits directly adjacent the King Edward Canada Line Station, in 2011.4099 Cambie

The proposal is for a mixed-use building with retail at grade and residential units on the upper floors, including:

      • a density of 3.52 FSR
      • a height of 8 storeys with a partial mezzanine contained in the ground floor;
      • a total 65 market condo units
      • a total of 79 vehicle parking spaces underground.

More information here.

August 28, 2013by david.taylor@colliers.com
Development, Market Research

Market Spotlight: Currently Proposed Rezoning Applications in City of Vancouver

Here is a look at the 31 rezoning applications in the City of Vancouver that have not yet been approved. The various applications have been ranked based upon the % increase in density.

[table id=17 /]

Some interesting observations:

  • The average proposed % increase in density is 157%. (Average existing density is 2.00 FSR compared to the average proposed density of 4.42 FSR)
  • The top 7 proposed increases in density are single family assemblies along the Cambie Corridor.
  • Outside the Cambie Corridor, the average % increase is relatively modest, only 98%.
  • Of the 31 rezoning apps:
    • 21 are on the Westside of Vancouver, 10 in East Vancouver
    • 14 contain some form of rental housing.
    • 19 will likely require some form of Community Amenity Contribution*
    • 13 propose mid-rise or highrise forms (only 6 outside Downtown)
August 28, 2013by david.taylor@colliers.com
Development

Regent International Proposing 70 Units at King Edward & Cambie

Regent International has applied to the City of Vancouver to rezone 563-571 West King Edward Avenue from RS-5 to CD-1. Regent had acquired the assembly of single family lots earlier in 2013563-571 King Edward. The property falls within the Cambie Corridor Plan.

 

The proposal is for a six-storey building and four townhouses, with:

    • a total of 70 condo units;
    • a floor area of 52,142 SF
    • a density of 2.43 FSR
    • a building height 70 ft
    • 44 underground parking spaces, including two car share spaces.

More information here.

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

Rezoning Proposed for Stongs on Dunbar

The owners of the Stongs property at 4508-4560 Dunbar Street have applied to the City of Vancouver to rezone the property, and an adjacent single family lot from C-2 and RS-5 and to CD. Stongs Dunbar

The proposed project includes:

    • on the Dunbar Street site, a 6-storey mixed use building with new Stongs (20,124 SF) and two smaller commercial units on the first level and 72 condo units (74,935 SF) above the store.
    • on the West 30th Avenue property, 11 3-storey townhouses (12,579 SF)
    • a public plaza at the northeast corner of Dunbar Street and West 30th Avenue;
    • a combined density of 2.51FSR
    • 234 vehicle parking spaces, three loading spaces and 111 class A bicycle spaces (each site includes two levels of underground parking).

More information here.

August 27, 2013by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

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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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