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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Apartment, Development

Beach Towers Rezoning Goes To Council

1600 beach_1Devonshire Properties‘ plan for Beach Towers (1600 Beach Avenue and1651 Harwood Street) goes to council next week. The plan is to rezone from RM-5A to CD-1 to add 133 units on the existing four tower property with new infill development to be added as follows:

  • on the Beach Avenue site, 118 new market rental units located within a four-storey building fronting Beach Avenue and a nine-storey building at Harwood and Cardero streets, a one-storey amenity building at Beach and Cardero streets, and enclosure of the bases of the existing towers, thereby increasing the allowable floor area by 89,095 sq. ft.; and
  • on the Harwood Street site, 15 new market rental units located within two- and three-storey buildings, thereby increasing the allowable floor area by 10,906 sq. ft.
New building from courtyard

New building from courtyard

From the City’s rezoning report: “This application helps achieve City housing policies, specifically through the creation of a total of 133 units of new secured market rental housing. Staff have assessed the application and support the uses and form of development….Staff recommend that the application be referred to a Public Hearing, with the recommendation of the General Manager of Planning and Development Services to approve it, subject to the Public Hearing.”

January 9, 2013by david.taylor@colliers.com
Development, Retail

Ball in Walmart’s Court for Richmond Development

Richmond Review – Ball in Walmart’s court for Richmond development.

central garden city 2City hall’s planning and development department is beginning the new year with a fat file on its desk that won’t go away.

Plans for a Walmart-anchored shopping mall in West Cambie are back in planners’ hands, after city council’s planning committee late last month ordered staff to do more work on the file.

Proponents first pitched their plans 10 years ago, spawning dramatic change in a neighbourhood largely untouched by redevelopment.

Read more: http://www.richmondreview.com/news/185953841.html

January 8, 2013by david.taylor@colliers.com
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
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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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