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

Lower Lynn Area to be Transformed

Developers, start your engines. District of North Vancouver council unanimously supported a 20-year plan to bring new housing, retail and office space to the Lower Lynn town centre at its May 27 meeting.

Lower Lynn Town Centre Concept Plan

Lower Lynn Town Centre Concept Plan

The plan includes a mixture of mid-and low-rise apartments and townhouses.

The district’s vision includes a projected 120,000 square feet of new retail space, mostly on Mountain Highway, and 50,000 square feet of new office space.

The plan has sparked “tremendous excitement” in the development community, according to the district’s general manager of planning, properties and permits Brian Bydwell.

District staff have been taking weekly meetings with prospective developers, according to Bydwell, who said a lot of the major sites are “pretty much tied up.”

Read more: http://www.nsnews.com/news/Lower+Lynn+transformed/8500240/story.html#ixzz2VuwYUKcL
June 11, 2013by david.taylor@colliers.com
Development, Office

9-storey Office Building Proposed for Seymour and Pender

538 West Pender

A 9-storey office building is proposed for the Southeast corner of West Pender and Seymour Streets in Downtown Vancouver. The building will contain approx. 77,000 SF of commercial space.

The property is currently for lease/sale with Colliers. Detail here.

Property Features for 538 West Pender Street

  • Targeting LEED® Gold
  • “A” Class building
  • Latest technology in building systems
  • Architect: Musson Cattell Mackey Partnership (MCM)
  • Main floor retail
  • Penthouse amenity area for use by tenants
  • Efficient floor plates

June 7, 2013by david.taylor@colliers.com
Development, Office, Retail

Auto and Commercial Uses Proposed for Lougheed and Boundary Development

A rezoning proposal has been put forward to develop a phased commercial development at 2020 Boundary Road, a site the Northeast corner of Lougheed and Boundary Road in Burnaby. Translink sold the site last year to the Open Road Auto Group for $19.2 Million.

The development will consist of:

  • two or three high-end auto dealerships
  • a 4-storey fully enclosed glass structured car parkade
  • an 8-storey, 85,000 SF office building with underground parking and grade level retail uses
  • a total density of 0.77 FAR

The auto dealerships are proposed to be the first phase of the development, with the commercial uses later.

Boundary & Lougheed

June 5, 2013by david.taylor@colliers.com
Development

Wesgroup Initiates Rezoning for Marine & Cambie Site

Following two projects (Marine Gateway and MC2) that have largely sold out and moved into the construction phase, Wesgroup is proposing to rezone their site at the Northwest corner of Marine Drive and Cambie Street to permit a high density residential development consisting of:
  • 368 residential units located in a 285 foot, 31-storey high rise tower and a 12-storey tower both sitting above a 2-storey base podium.
  • Ground level commercial space of approx. 15,000 SF located along the Marine Drive and Cambie Street frontages.
  • a separate three storey community amenity facility at the northwest corner. Adjacent to Ash Park, the facility is proposed to contain a 37 space daycare facility and a 4,500 SF community facility, which is anticipated to accommodate a relocated Marpole Oakridge Family Place.
  • 387 underground parking spaces.
  • a total density of 5.60 FSR.

Source: City of Vancouver

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

DNV Seeks Input on Lynn Valley Density

DNV seeks input on Lynn Valley density.

District of North Vancouver residents who want to have a say in the future of the Lynn Valley core are invited to a series of workshops and open houses over the next three weeks.

The town centre is one of four spots in the district earmarked for concentrated growth over the next 20 years.

The Lynn Valley hub has been viewed as a means of addressing what Mayor Richard Walton called a “demographic exodus” among district residents between the ages of 20 and 40. By including affordable townhouses and mid-rise as well as highrise apartments, the district could attract young adults and young families back to the district.

While plans are subject to change, early designs for the town centre include a high-density pedestrian-oriented realm with a mix of retail, shops and housing. A major section of the mall would be retained in the 20-year plan.

Read more: http://www.nsnews.com/news/seeks+input+Lynn+Valley+density/8448607/story.html#ixzz2UsdSNnco
May 31, 2013by david.taylor@colliers.com
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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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