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

955 East Hastings Street Rezoning Hearing Tonight

One of the first major rezoning hearings in a new wave of development along East Hastings Street happens tonight:

“GBL Architects, on behalf of Wall Financial, has applied to the City of Vancouver to rezone 955 East Hastings Street from M-1 (Industrial) District to CD-1 (Comprehensive Development) District. The application proposes a mixed-use development including commercial and light industrial uses at street level and below, with residential in the upper floors. The form includes three mid-rise elements ranging from 10 to 12 storeys in height with a proposed density of 6.0 FSR. The residential component includes 282 market units and 70 non-market units”

View the rezoning page HERE.

October 16, 2012by david.taylor@colliers.com
Development

“Oxford Properties plans $3.1-billion hotel, casino development in downtown Toronto”

From The National Post: Courtesy of Oxford Properties

“Courtesy of Oxford Properties: An illustration of Oxford Properties planned development in downtown Toronto.

Oxford Properties Group upped the ante on Friday among Toronto’s casino suitors with details of a $3-billion plus proposal for a swath of downtown real estate next to the Rogers Centre that would see black jack tables among a new hotel, residential, office space and a redeveloped Metro Toronto Convention Centre.

The group hired Foster + Partners, the architects behind Abu Dhabi’s Masdar City Development, Washington’s Smithsonian Institute and London’s Canary Wharf Underground Station, to sketch out a master plan for Oxford Place, located on 11 acres on the south side of Front Street, between Simcoe Street and Blue Jay Way.”

Click HERE for the full article.

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

Onni Seeks Increased Density at 1695 Main Street (Burger King Site)

“Onni Group has applied to the City of Vancouver to amend the CD-1 By-law at 1695 Main Street. The proposal is to increase the permitted residential floor space from 3.5 floor space ratio (FSR) to 4.08 FSR and increase the permitted height from 13 storeys (38 m) to 15 storeys (44.35 m). This zoning amendment is considered concurrently with development permit no. DE411865.”

See the full rezoning proposal HERE.

October 14, 2012by david.taylor@colliers.com
Development

955 East Hastings Moves to Public Hearing

955 East Hastings Street moves to public hearing next week. Wall Financial is proposing to rezone the site from M-1 Industrial to CD-1 for a 12-storey mixed use development including over 64,000 square feet of commercial and light industrial job space. The proposal would accommodate 352 residential units, 70 (20%) of which would be social housing units. The total density proposed is 6.15 FSR.

Staff and Council gave conditional approval on September 18 to move forward. A CAC of approximately $20.00 /SF was applied as an in-kind contribution towards the social housing component.

 

October 12, 2012by david.taylor@colliers.com
Development

Two Oak Street Properties Proposed for Rowhouses

Two properties on Oak Street go before City of Vancouver council next week seeking rezoning for rowhouse developments.

6110-6170 Oak Street & 975 West 46th Ave is a 42,144 SF site located at the northeast corner of Oak and West 46th Avenue. Listraor Homes is proposing to rezone the property from RS-1 to CD-1 to permit a 33 unit rowhouse development under the guidelines of the Oakridge Langara Policy Statement (OPLS). Listraor purchased the property in 2012 as an assembly of single family lots for a total of $9,295,000.

 

 

 

6010-6050 Oak Street is a 24,574 SF site located on the east side of Oak Street between 43rd and 45th Avenues. The owner is proposing to rezone the property from RS-1 to CD-1 to permit a multiple-dwelling development with 19 strata-titled rowhouse units and 9 lock-off units at a floor space ratio (FSR) of 1.2. This site was an assembly of single family lots purchased in 2010 for a combined value of $5,450,000.

October 11, 2012by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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