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

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
Development

Park Royal Seeks Condo Highrises

Park Royal seeks condo highrises.

Park Royal is aiming to be less of a mall and more of a neighbourhood.

The mall’s management announced plans April 30 to add residential towers to the mix, along with a host of new stores and a refurbishment of the north mall.

“The vision is creating, as many shopping centres are doing today, a move from being a single-purpose delivery of goods and services . . . to becoming a much more inclusive neighbourhood. That neighbourhood would include, obviously, residential as a component of the deliverables,” said Rick Amantea, Park Royal vice-president.

If approved by the District of West Vancouver, Park Royal will build two towers, 24 and 19 storeys in height, holding 289 units of housing at 752 Marine Drive, the location of White Spot today.

Read more: http://www.nsnews.com/business/Park+Royal+seeks+condo+highrises/8365534/story.html#ixzz2TBY7WSaL
May 13, 2013by david.taylor@colliers.com
Development

Foes, Supporters Out in Force for White Rock Development

Peace Arch News – Foes, supporters out in force for White Rock development.

Residents for and against a 12-storey project proposed for Vidal Street packed White Rock city hall to overflowing Monday.

Of the nearly two dozen who spoke, more than half – including a number who currently call the site home and the project’s architects – voiced support, describing the concrete residential complex as an attractive, responsible one that will help revitalize the city.

“This is the kind of project that will put White Rock on the map,” said Judy Tallas. “This building will be the prototype for future projects… a project that will set a precedent for White Rock’s growth.”

Opponents argued its height and density are inappropriate for the neighbourhood, and cited impacts to views, property values and a lack of infrastructure.

Read more: http://www.peacearchnews.com/news/205684661.html

May 2, 2013by david.taylor@colliers.com
Development

DNV Mulls Lower Capilano Draft Plan

DNV mulls Lower Capilano draft plan.

District of North Vancouver council appears poised to pass its Lower Capilano – Marine Village Centre Implementation Plan.

If approved next month, the plan will set the stage for the next 20 years of growth and a total redevelopment in the area between Marine Drive and Fullerton Avenue on either side of Capilano Road.

Lower Capilano PlanThe plan envisions about 1,200 more units of housing in townhouses, mid-rise condos and highrises, 100,000 square feet of commercial space, as well as a public plaza, green space and a new community centre. At an informal workshop Monday, council members reflected on the draft and the two years of consultation that produced it.

“I’m very excited to see the draft at this stage because it has been informed by so much community engagement, right down to the kitchen table,” said Coun. Alan Nixon. “I feel really confident the temperature that has been taken within the community is 98.6 F and we’re in good shape. There are going to be a few tweaks but the most common comment I hear is ‘When can we get on with it?'”

Read more: http://www.nsnews.com/news/mulls+Lower+Capilano+draft+plan/8306484/story.html#ixzz2RrXykKYf
April 29, 2013by david.taylor@colliers.com
Development

Seylynn Village Project Launches Sales

seylynnThe Seylynn Village project website has been launched: www.seylynn.ca . The 720 unit, 3-tower project is being built by Denna Homes and marketed by Pacesetter Marketing. It appears that each tower will comprise a separate phase.

April 26, 2013by 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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