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

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
Development

Vancouver Stock Exchange building expansion to move ahead

Vancouver Stock Exchange building expansion to move ahead.

  
Vancouver Stock Exchange building expansion to move ahead
 
VANCOUVER — Global investment banking giant Credit Suisse will move ahead with plans to construct a 30-storey office tower over top the historic Vancouver Stock Exchange building after city council voted Tuesday to approve a rezoning application that will more than double the maximum density on the site.

The Exchange project, worth an estimated $200 million, will add 369,000 square feet of premium office space to the downtown core and employ an estimated 400 people during construction.

City staff had earlier recommended council approve the application, reasoning that it will contribute to Vancouver’s job space, economic development, heritage and sustainability objectives.

Read more: http://www.vancouversun.com/business/Vancouver+Stock+Exchange+building+expansion+move+ahead/7542502/story.html#ixzz2CAsoGNIO

November 14, 2012by david.taylor@colliers.com
Development, Investment

City purchases Ramada Inn on Kingsway

Courtesy The Globe and Mail

A Vancouver realtor confirmed the Ramada Inn was sold for $15.5-million. (Jeff Vinnick /Jeff Vinnick/The Globe and Mail)

“In a new approach to tackle Vancouver’s ongoing problems with low-cost housing and homelessness, the city has bought the Ramada Hotel on Kingsway – far from the downtown core.

Councillor Kerry Jang, who confirmed to The Globe and Mail the as-yet-unannounced purchase of the 122-room hotel, said the building is going to be used as housing for seniors who need to be moved from other residences in the city that require renovation.”

View the full article HERE.

November 13, 2012by david.taylor@colliers.com
Development

Council to Vote on Credit Suisse Office Tower Proposal November 13

Courtesy of the Vancouver Sun

Credit Suisse is proposing to build the tower, which would be adjacent to and extend over the Vancouver Stock Exchange building at the corner of Pender and Howe streets.

The historic Vancouver Stock Exchange building at the corner of Howe and Pender streets is poised to get a $200-million overhaul as part of a major commercial development proposed by global financial giant Credit Suisse.

City council will vote Nov. 13 on a rezoning application that would more than double the maximum density and allow for the construction of a 30-storey tower on the site, which includes an adjacent property on Pender Street.

The design calls for retail uses at street level topped by 369,000 square feet of new, premium office space.

City staff has recommended council approve the application, reasoning that it will contribute to Vancouver’s job space, economic development, heritage and sustainability objectives.

Read more: http://www.vancouversun.com/business/commercial-real-estate/Proposed+office+tower+would+incorporate+former+Vancouver+Stock/7528003/story.html#ixzz2C3bx3ly8

November 13, 2012by david.taylor@colliers.com
Apartment, Development

Orr Development Proposing 83-unit West Broadway Rental Building

Orr Development has applied to rezone 3002-3036 West Broadway from C-2C to CD-1 to build a 5-storey, 83-unit market rental building, with a total density of 3.5 FSR, and a height of 61 feet. A total of 26 commercial and 63 residential parking stalls are proposed. The site is 20,889 SF. Under the existing C-2C guidelines, the maximum height is 4-storeys with setbacks.

The project includes 16,000 SF of commercial space on the ground floor and includes 19 studios, 41 one-bedrooms, 19 two-bedrooms, and 4 three-bedrooms.

The rezoning application is being considered under the Rental 100: Secured Market Rental Housing Policy.

November 9, 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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