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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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

Trump Tower Vancouver Construction Reaches Grade

After more than a year constructing the underground parkade, construction at the site of the new luxury hotel/residential project at 1153 West Georgia Street, has reached grade level. Sales are expected commence later this year. The developer, Holborn Group, had originally anticipated completion by 2010, but the project was delayed.

Trump Tower Vancouver Construction

Trump Tower Vancouver Construction, picture by Built Form (SSP)

 

Trump Tower Vancouver Construction

Trump Tower Vancouver Construction, picture by Built Form (SSP)

May 22, 2013by david.taylor@colliers.com
Development

Grosvenor Presents Redesign of Ambleside Project to Council

Grosvenor presents redesign to council.

A shorter, more architecturally distinct version of the mid-rise development earmarked for the 1300-block of Marine Drive in West Vancouver took one more baby step towards realization.

Council voted unanimously Monday night to hand the revised blueprints to its design review committee.

The height of each building has been reduced by one storey and between 20 and 27 feet from the original design. At seven and six storeys, the two terraced mid-rises would now measure 79 and 68 feet, respectively.

The buildings would also feature smaller units than originally planned, giving the project 100 units with an average size of 1,771 square feet.

Read more: http://www.nsnews.com/news/Grosvenor+presents+redesign+council/8406820/story.html#ixzz2U21xCBWi
May 22, 2013by david.taylor@colliers.com
Apartment, Development

Idea for Vancouver Rental Projects: Lose the Parking?

20130516-Queen-TowerNews of Cadillac Fairview’s proposal for a 65-storey, 580-unit rental apartment tower at Queen and Yonge St. in Downtown Toronto is interesting for Vancouver observers. The proposal indicates that the development will have zero parking stalls. Instead, it will include 580 bicycle spaces are planned instead. The building appears to be absent of unit balconies as well.

This particular site includes demolition of an existing retail space and preservation of an existing heritage building, and based upon the location, parking probably won’t be necessity for most urban residents.

This begs an interesting question however, would the outright or partial relaxation of parking requirements for a downtown rental project be viable from a rental or construction perspective? There are many buildings in the West End that do not have any parking, and this does not appear to impact rents…

Recent efforts to reduce parking requirements for Vancouver condo projects have yielded mixed results; such as the MC2 project at Marine and Cambie where units sans obligatory parking stall were apparently much slower to sell. Is rental different?

May 17, 2013by david.taylor@colliers.com
Development, Office

320 Granville Street Office Tower Project Back at UDP

The design for a proposed 32-storey office building at the corner of Granville and Cordova (currently a multi-level parking garage) have been changed in advance of an Urban Design Panel meeting next week. As we reported last year, the project is for an office tower with a density of 25.5 FSR and 380,000 sq. ft.

Here’s a look at the new design:

320 Granville Model
Street Level

320 Granville – New vs Previous Design

Photos courtest: Built Form @ SSP

May 15, 2013by david.taylor@colliers.com
Development

Boffo’s ‘Modello’ Project Advances to Public Hearing

‘Modello’

Boffo Developments‘ project at 6225-6255 Cassie Avenue has now gone through the first reading stage of rezoning, and has been referred to a rezoning scheduled for May 28, 2013. The plan is for a 170-unit, 37-storey residential tower above a commercial podium with frontages on Beresford and Willingdon Avenue. The commercial component will include retail, office and a liquor primary establishment.

The project is being rezoned under the Metrotown Centre Development Plan, which allows higher density for existing RM-3 and RM-5 zoned properties.

Project stats:

  • Site area: 46,166 SF
  • Total density: 6.28 FAR
  • Total floor area: Residential: 224,323 SF; Retail/Rest: 24,959 SF; Office: 33,600 SF
  • Unit Mix: 170 units              (36 one-bedrooms, 87 two-bedrooms, 47 3-bedrooms)

Source: City of Burnaby, Boffo Developments

May 14, 2013by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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