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

Vancouver unveils plan to replace viaducts with ‘super road’, more housing

Half-marathon runners make their way across Dunsmuir Viaduct shortly after the start of the Vancouver Marathon. The Georgia and Dunsmuir viaducts could be demolished almost immediately, paving way for a new neighbourhood park system.
 
The Georgia and Dunsmuir viaducts could be demolished almost immediately, paving the way for new housing and a neighbourhood park system, if the plan is approved by council this fall.

On Tuesday, city transportation planners unveiled a new plan to create a “super road” around the north end of False Creek that would allow for the accelerated destruction of the viaducts and create more than 850,000 square feet of new housing space in Strathcona. It would also affect several other planned changes, including the construction of a long-awaited truck bypass route along Malkin Street.

The plan has yet to be approved, and the planners will bring back a final version within months, but the general proposal received thumbs up from both Vision Vancouver and Non-Partisan Association councillors.

Read more: http://www.vancouversun.com/news/Vancouver+unveils+plan+replace+viaducts+with+super+road+more+housing/6983485/story.html#ixzz21eE74500

July 25, 2012by david.taylor@colliers.com
Development

Vancouver Looks to Richmond in Hiring New Planning Boss

Vancouver looks to Richmond in hiring new planning boss.

After an extensive international search in which it received 108 applications from all over the world, the City of Vancouver had to go no further than the municipality next door to hire a new general manager and director of planning.

On Tuesday the Vision Vancouver-led council ratified the hiring of Brian J.Jackson as the new general manager of planning and development. For the last four years Jackson has been acting general manager of planning for Richmond. He begins work August 27.

Read more: http://www.vancouversun.com/Vancouver+looks+Richmond+hiring+planning+boss/6983088/story.html#ixzz21aAZ21iO
July 24, 2012by david.taylor@colliers.com
Development

NVSD Looking to Sell or Lease Four School Properties

North Shore Outlook – NVSD looking to sell or lease four school properties.

Moving ahead with plans to offload nearly a dozen vacant school sites, the North Vancouver School District is putting four properties valued at more than $26 million on the auction block.

On July 6, the school district issued a request for proposals to buy or lease the former Monteray elementary, Ridgeway Annex, Keith Lynn and Plymouth elementary school sites in North Vancouver city and district.

Read more: http://www.northshoreoutlook.com/news/162875106.html

View the RFP here.

July 24, 2012by david.taylor@colliers.com
Development, Market Research

Vancouver Westside Woodframe Condos Show Stable Values Amid Little New Supply

Resales of newer woodframe condos on Vancouver’s Westside (including UBC lands) has averaged $715 per sq ft over the past year. Pricing has remained relatively flat and has not shown a decline as of July 2012. University condos, averaging $740 per sq ft over the past year, typically trade at a premium to comparable Westside of Vancouver product, which averaged $677 per sq ft over the same time period. There are currently only a handful of active new woodframe projects on the Westside as sites are difficult to locate for developers.

Source: MLS Stats. (woodframe condo resales less than 10 years old)

July 23, 2012by david.taylor@colliers.com
Development

Vancouver city council approves Aquilini’s three new highrise towers beside Rogers Arena

Vancouver city council approves Aquilini’s three new highrise towers beside Rogers Arena.

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’
 

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’

Rogers Arena is set to welcome hundreds of new neighbours after Vancouver city council Thursday night approved the development of three new highrise towers by Aquilini Developments and Construction, run by the same family that owns the Canucks.

According to the $300-million plan, which originally favoured condos in the mixed-used development, a total of 614 one-, two-and three-bedroom rental units would be built in stages over the next several years with the last of the towers — between 23 and 32 storeys — completed in the spring of 2016.

Read more: http://www.vancouversun.com/business/Vancouver+city+council+approves+Aquilini+three+highrise+towers+beside+Rogers+Arena/6961948/story.html#ixzz21BImWWuJ

July 20, 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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