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

Highest Tower in Coquitlam Offers Too Little Parking, Says Council

The Tri-City News – Highest tower in Coquitlam offers too little parking, says council.

A proposal for a 43-storey tower in Coquitlam’s Town Centre raised eyebrows at Monday’s council meeting, but it wasn’t because of the neck-craning height of the building.

At 43 storeys, the Metropolitan 3 (M3) will be the highest building in Coquitlam. Other buildings in the Cressey project include the Metropolitan 1 (M1) at 27 storeys and the Metropolitan 2 (M2), which is under construction and will be 25 storeys.

But despite the big numbers, council members weren’t focusing on how high the tower would rise but on what’s missing down below: parking.

Read more: http://www.tricitynews.com/news/182089551.html

December 6, 2012by david.taylor@colliers.com
Development

December 5 Urban Design Panel Agenda – Oakridge, Rogers Arena & More

The December 5th Urban Design Panel meeting has two high profile projects on the agenda – Oakridge Centre and one of Aquilini’s arena towers which twice previously received unanimous design support.

View the meeting agenda HERE.

December 4, 2012by david.taylor@colliers.com
Development

Onni Intends to Quit Lonsdale Development

North Shore Outlook – Onni intends to quit Lonsdale development.

Onni Group, the developer behind one of the most ambitious and publicly divisive condo plans in North Vancouver history, is expected to announce it will walk away from the lucrative Central Lonsdale project, citing “possibly defamatory” remarks made by two city councillors.

In a Dec. 3 letter obtained by The Outlook, Onni president Rossano De Cotiis told Mayor Darrell Mussatto the company intends to “publicly announce within the next 48 – 72 hours that we are withdrawing our application” for the 13th Street and Lonsdale Avenue redevelopment. De Cotiis blamed his company’s departure on comments made in council by councillors Pam Bookham and Rod Clark.

In his letter, De Cotiis said the problem “goes well beyond a simple disagreement over the issues associated with the project,” and claims the two councillors acted unfairly when they accused Onni of manipulating a public hearing at which Onni staff and supporters spoke in favour of the project.

Read more: http://www.northshoreoutlook.com/news/182046341.html

December 4, 2012by david.taylor@colliers.com
Development

Morningstar Homes Brings Coach Homes to Coquitlam

Burnaby NewsLeader – Morningstar Homes brings coach homes to Coquitlam.

Morningstar Homes is introducing a new type of single-family home to Coquitlam with its newest project, Somerton. Bringing an added coach home to their always-gorgeous floorplans, Morningstar is offering a degree of livability and affordability that is unique to the area.

“Coquitlam has never done this before,” says Deborah Calahan, Vice-President of Sales and Marketing for Morningstar. “This is really the right product at the right time.”

With 34 homes in the development, 21 of which will have coach homes (the others will have the option for a legal suite in the finished basement), Morningstar is building on its legacy for amazing homes.

Read more: http://www.burnabynewsleader.com/business/realestate/181571491.html

December 3, 2012by david.taylor@colliers.com
Development

Dava Developments Proposing 6-storey Concrete Buildings For Cambie & West 26th Ave

Dava Developments Ltd. has applied to the City of Vancouver to rezone 4139-4187 Cambie Street from from RS-1 to a Comprehensive Development District. The proposal is for two 6-storey residential buildings on Cambie Street and one 2-storey townhouse on the rear lane, with a total of 76 residential units, including 11 townhouses and 65 apartment units. The proposal includes a floor area of 86,416 SF, a density of 2.6 FSR, and two levels of underground parking with 114 parking stalls.

The site, just over 33,000 SF in size and comprised of three single family lots, had been sold by Colliers in 2011 for $12,750,000.

More information can be found here.

December 3, 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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