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

High-rise development aims to make Kingsway Avenue a residential hotspot

High-rise development aims to make Kingsway Avenue a residential hotspot.

East Vancouver’s Kingsway Avenue has long been known for its steady stream of auto dealerships, strip malls, fast-food restaurants, cut-rate motels and as a quick route to somewhere else.

That’s changing.

In what’s regarded by many as part of the area’s renaissance, a 12-storey condominium tower in the 2700-block of Kingsway is now being marketed as part of a city plan to take advantage of the Norquay neighbourhood’s central location and turn it into a more people-friendly place emphasizing higher densities, newer shops and services, wider sidewalks and other public amenities.

Skyway Towers, the first highrise development under the Norquay Village Neighbourhood Centre Plan, is a 130-unit project that includes nine commercial units to be built on the site of the old Wally’s Burgers.

It includes two buildings – the 12-storey tower and a four-storey building – with a 13-metre-wide breezeway between them.

Read more: http://www.vancouversun.com/business/commercial-real-estate/High+rise+development+aims+make+Kingsway+Avenue+residential+hotspot/6872883/story.html#ixzz1zZW6H2fR

July 3, 2012by david.taylor@colliers.com
Development

151 West Hastings Street, Vancouver Sold

Steve Fame and Casey Weeks of Colliers International have sold the Asia Imports Building at 151 West Hastings Street for $6,500,000 to Century Group.

The building, formerly known as the Ormidale Block, is a 4-storey office building half a block East of Victory Square and directly across from the Woodward’s building.

June 30, 2012by david.taylor@colliers.com
Development

Madison Pacific Properties Inc. Announces Resignation of CEO

Madison Pacific Properties Inc. Announces Resignation of CEO.

VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 27, 2012) – Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the “Company”) a Vancouver-based real estate company announced today that Alan Firth, its President and Chief Executive Officer, has tendered his resignation in order to pursue other interests. Mr. Firth will continue as Acting President and Chief Executive Officer until the Company concludes a search for a qualified replacement to ensure a smooth transition.

“Over the past 7 years, Alan has been instrumental in Madison Pacific’s growth and I thank him for his leadership. The Board is reluctantly accepting Alan’s resignation and will immediately begin the search for his replacement,” said Sam Grippo, Chairman of the Company.

 
June 29, 2012by david.taylor@colliers.com
Development

1401 Comox Street Approved by Vancouver City Council

Vancouver City Council approved Westbank’s proposal for a 22 storey market residential tower under the STIR program at 1401 Comox Street in Vancouver’s West End yesterday.  Westbank originally applied to rezone the former church property in October of 2009 and after revisions to their proposal in 2010 and 2011 were successful in having the project approved.  The project will have a 7.14 FSR, stand 190 feet tall and 186 market rental units.

June 28, 2012by david.taylor@colliers.com
Development

Reflections in Edmonds Nears Sellout

Ledingham McAllister’s Reflections highrise condo project in the Edmonds area of South Burnaby completed construction in Spring 2012, and has now sold 210 of the 218 available units at an overall average of approx. $490 per sq ft. The project began selling in mid-2010.

Ledingham McAllister is expected to introduce more residential units in the area with the redevelopment of Safeway’s distribution site. The project is expected to take at least a year or more to go through the rezoning process before development occurs.

June 28, 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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