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

BlueSky’s Chinatown Project Revised

BlueSky Properties‘ project at 633 Main Street has been revised slightly. The proposal is now calling for more residential units (now 188) while reducing the project’s overall density from 9.29 to 8.86 FSR. The site is zoned HA-1A and was sold to BlueSky by Colliers in 2011.

We first told you about this project in May 2012.

633 Main St

Revised Project Rendering

Source: City of Vancouver

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

6-storey Building Proposed for Victoria Drive

5658 Victoria DriveBhandal Homes has submitted a revised application to the City of Vancouver to rezone 5658 Victoria Drive from C-2 to CD-1. The proposal is for a 6-storey, mixed-use building with commercial retail space at ground level and 28 residential rental suites on upper floors. The proposal includes a density of 3.65 FSR, a height of 62 ft., a total floor area of 30,221 sq. ft., and 22 parking spaces.

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

Polygon Acquires 9.4 acre Townhome Development in North Vancouver

Polygon Homes has purchased Twin Lakes Estates, a 57-unit townhome development located in the Lynn Valley are of North Vancouver. The 9.43 acre property represents excellent redevelopment potential and was acquired for $17,100,000, equating to approximately $300,000 per unit.

3701 Princess

December 19, 2012by david.taylor@colliers.com
Development, Office

Coast Capital’s New Head Office to Boost Surrey City Centre Revitalization

Another innovative architectural design will soon be dotting Surrey’s cityscape with plans to build a new Coast Capital Savings head office to be located next to the King George Skytrain Station.

COAST CAPITAL SAVINGS CREDIT UNION - Coast Capital's new HQ

B.C.’s second largest credit union has signed a contract with PCI Developments Corp. for the construction and leasing of about 70 per cent of the approximately 180,000 square foot, nine-story property, with a targeted late 2015 completion date. Coast Capital’s “Help Headquarters”, as the new head office will be known, will join buildings like the Central City Tower and City Centre Library that have established Surrey as the home for some of the province’s most groundbreaking modern architecture and an attractive location for businesses.

Read more at Newswire: http://www.newswire.ca/en/story/1091297/coast-capital-s-new-head-office-to-boost-surrey-city-centre-revitalization

December 19, 2012by david.taylor@colliers.com
Development

Polygon Proposing 528 Unit, 3-Tower Development in Richmond

Polygon Homes has applied to the City of Richmond to rezone an 8.5 acre site at 8311-8371 Cambie Road and 3651 Sexsmith Road from Single Family and Auto-Oriented Commercial (CA) to High Rise Apartment based on the Capstan Village City Centre Plan.

Polygon is planning a 478,019 SF residential project, with three towers containing 528 dwellings, new streets, pedestrian linkages, and public art. The proposal also includes $4.2M in funding towards the future construction of the Capstan Canada Line station (total cost $25M), $5.7M in funding towards the to the City’s Affordable Housing Reserve in lieu of building affordable housing units on site, construction of affordable housing units elsewhere within Richmond; and the replacement of an existing City-owned playing field at 3651 Sexsmith Road (Cambie Field) with a larger park. The total density will be 2.375 FAR.polygon cambie rd 2
polygon cambie rd 1

Source: City of Richmond

December 18, 2012by 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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