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

Onni Development Backlash Grows

Onni development backlash grows.

A group of City of North Vancouver residents, about 700 of them so far, are hoping to stay council’s hand on approving what could be the largest development in Upper Lonsdale history.

City resident Linda Heese and a few other volunteers have been collecting signatures for a petition calling on council to reject a proposal from developer Onni Group for the Safeway site at 13th Street and Lonsdale Avenue. The project would see 344 residential units in two towers measuring 180 and 240 feet in height, atop a commercial podium including a new grocery store. The project goes to a public hearing and likely vote by council on Nov. 19.

But in Heese’s view, the towers are too tall and dense for the neighbourhood and abut the sidewalks, which will “change, irrevocably” the character of what is now a nice pedestrian street.

Read more: http://www.nsnews.com/news/Onni+development+backlash+grows/7545136/story.html#ixzz2CJ36KdpS
November 16, 2012by david.taylor@colliers.com
Development

For Sale – 563-571 West King Edward Avenue

Please contact Ted Mildon at ted.mildon@colliers.com for more information on this opportunity.

November 15, 2012by david.taylor@colliers.com
Development

“Gateway proposes mini-Vegas for south Surrey”

 

 
Gateway proposes mini-Vegas for south Surrey
 
The City of Surrey is considering a proposal by Gateway Casinos to build a $100-million resort-style gambling facility that would rival Great Canadian Casino’s River Rock venue in Richmond and Boulevard Casino in Coquitlam.

Sprawling over a 25-acre undeveloped site on 168th Street, just off Highway 99 near 10th Avenue in south Surrey, the proposed resort would include a 200-room four-star hotel, 60,000-square-foot gambling floor, 27,000-square-foot convention and entertainment centre with restaurants and lounges as well as parking for 1,200 vehicles.

Tanya Gabara, community liaison for Gateway, touts the resort as one of “the biggest entertainment venues outside Vancouver,” providing much-needed space for conventions, concerts, comedy shows and other large events for residents of Surrey and the Fraser Valley. The theatre, she said, will have at least 800 seats.

Read more: http://www.vancouversun.com/news/metro/Gateway+proposes+mini+Vegas+south+Surrey/7496813/story.html#ixzz2CGeOxce0

November 15, 2012by david.taylor@colliers.com
Development

Kingsgate Mall & Beedie Development – Globe & Mail Article

Courtesy of the Globe & Mail

“In the last year, industrial developer Ryan Beedie has moved into the more precarious world of residential development.

When asked why he’d bother, Mr. Beedie, who already oversees $1-billion in industrial real estate assets, agrees that it’s partly due to one simple reason. He’s bored.

“Absolutely,” he says, without hesitation, straightening up in his boardroom seat. “You are absolutely right. ‘What’s this shiny thing over here?’ Absolutely. We have also expanded industrial into Alberta – we have quite a few projects now going on in Calgary. Again, why do that? Good question. Because it’s fun – it’s a new experience.””

View the entire article HERE

November 15, 2012by david.taylor@colliers.com
Development

Townline Proposing Richmond Tower

Townline Homes has applied to the City of Richmond to rezone 8280 – 8300 Granville Avenue from CA to ZHR13 to build a 16-storey residential tower with 109,000 SF of residential area, 126 units, and 160 parking stalls.

Townline had attempted to acquire the lot to the West, but was unable to do so. 5% of the total units will be provided as affordable housing.

The project went for first reading on November 13th, 2012.

 

 

November 14, 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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