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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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

SFU Wants to Expand, Build in City Centre

SFU wants to expand, build in City Centre.

With student demand now greater than ever, Simon Fraser University is looking to double the capacity of its Surrey facility, from 2,500 full-time students to 5,000 – hopefully starting within the next three years.

That’s according to a proposal submitted by SFU to the provincial government earlier this month, looking not only for approval of the plan but funding for the project as well.

“SFU is the only research university that is trying to substantially grow its undergraduate population and that stems from our location in Surrey and the growth in Surrey and other south Fraser cities,” said Joanne Curry, SFU executive director and associate VP of external relations for SFU Surrey.

Read more: http://www.thenownewspaper.com/news/wants+expand+build+City+Centre/7478679/story.html#ixzz2Ayy4XrmS
November 1, 2012by david.taylor@colliers.com
Development

Edmonds Development Awaits Area Planning Process

Burnaby NewsLeader – Edmonds development awaits area planning process.

The development of the vacant lot at Edmonds and Canada Way is awaiting completion of an updated Sixth Street Area Plan at Burnaby City Hall.

A four-storey mixed-use project is being proposed for the corner property at 7320 Canada Way, a former gas station site, according to a city planning report.

City staff informed the rezoning applicant, Kamcon Construction, that “substantial efforts” would have to be made to acquire and consolidate the Odd Fellows Hall property next door at 7724 Edmonds St. into any potential development.

November 1, 2012by david.taylor@colliers.com
Development

Vancouver approves transportation strategy aimed at getting more people out of cars

Vancouver approves transportation strategy aimed at getting more people out of cars.

VANCOUVER — A long-term strategy designed to improve the way people and goods move around Vancouver was given approval by council Wednesday.

The Transportation 2040 plan, dubbed “bold and aggressive” by Coun. Raymond Louie, outlines more than 180 transportation and land-use concepts aimed at helping the city achieve its goal of converting two-thirds of all trips taken to cycling, walking and public transit.

From pedestrian “scramble” intersections to rerouting heavy truck traffic away from residential neighbourhoods to more bike lanes and smoother, safer sidewalks, the plan looks to reduce our reliance on vehicle traffic.

Among the more ambitious ideas is a proposal to remove the Georgia and Dunsmuir viaducts to improve neighbourhood connections for both pedestrians and cyclists.

The plan also explores the possibility of using two of eight traffic lanes on Granville Bridge to create a tree-lined pedestrian greenway.

Read more: http://www.vancouversun.com/Vancouver+approves+transportation+strategy+aimed+getting+more+people+cars/7477536/story.html#ixzz2AvBfqQHt

October 31, 2012by david.taylor@colliers.com
Development

980 Howe Street Unanimously Passes Urban Design Panel

Manulife Financial’s 270,000 square foot proposed office development unanimously (8-0)passed Urban Design Panel on October 24th.  The project, which is located at the Howe Street and Nelson Street intersection, will be 16 storeys tall and have retail at grade.  980 Howe Street is in the pre-leasing phase and could be completed by 2015.

Other projects that were voted on at the October 24th meeting included:

2477 Carolina Street by Royal East Broadway Development: 2 votes for, 7 votes against

557 East Cordova Street by Boffo Properties: 9 votes for, 0 against

1729-1735 East 33rd Avenue by Cedar Cottage Cohousing Company: 2 votes for, 6 votes against

 

October 31, 2012by david.taylor@colliers.com
Development

4.3 Million Square Feet, 18 to 45-Storey Towers Proposed For Oakridge Centre

Westbank Projects, in partnership with Ivanhoe Cambridge have applied to the City of Vancouver to rezone Oakridge Centre to develop a 45-storey mixed-use development consisting of 1,430,000 SF of retail, 425,000 SF of office space, 45,000 SF of amenity space, and 2,700,000 SF of residential, with a total density of 3.54 FSR. The proposal includes 2,818 units with a maximum height of 412 ft., and 6,694 parking spaces. Henriquez Partners is the Architect for the project.

The proposed rezoning has been in the works since 2007 when the Oakridge Policy Statement was adopted. More recently, Westbank has been brought on and a planning program was developed in 2012 to help guide the rezoning process.

Model View looking East

More information can be found HERE.

 

October 30, 2012by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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