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, Office, Retail

CIBT Planning Hotel and Office Complex for Richmond Site

CIBT Education Group has applied to the City of Richmond for permission to rezone a site at 7780, 7800, 7804, 7820 and 7840 River Road in Richmond.

The 77,000 SF site is an assembly of underutilized commercial and industrial parcels. It is designated in the City of Richmond’s OCP as Urban Centre T5, which allows up to 3.0 FAR plus a bonus.

The proposal for the site includes:

  • an 11-storey hotel with 183 guest rooms;
  • an 8-storey office building with retail and restaurant space;
  • 2 ½ levels of underground parking;
  • a total density of 3.23 FAR (232,687 SF);
  • dike upgrades to City’s current standard (15 ft.)

The architect for the project is Urban Solutions Architecture.

January 29, 2023by david.taylor@colliers.com
Apartment, Development

Previous West End Condo Project Revised to Rental Apartments by GWL

GWL Realty Advisors has submitted a rezoning application for a site they own at 1055 Harwood Street in the West End area of Downtown Vancouver.

The site was previously proposed by Strand and Intracorp for a condo/social housing project in 2018 before being shelved due to market conditions. The site was subsequently sold to GWL in 2022 following a change in rezoning policy which deleted the required social housing in exchange for 20% of the units being below market rentals.

The new proposal is to allow for the development of a 32-storey rental building that includes:

  • 269 rental units
    • including 52 below market rental units
  • A density of 11.71 FSR;
  • A building height of 300 ft.; and
  • 134 vehicle parking spaces and 513 bicycle spaces.

The application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan.

The architect for the project is GBL Architects.

January 29, 2023by david.taylor@colliers.com
Condo, Development

47-Unit Townhouse Project Slated for Cambie Area Block

Zail Properties has applied to the City of Vancouver for permission to develop a new townhouse development on a full city block site in the 500 Block of West 27th Avenue at Ash Street, just West of Cambie.

The proposal includes:

  • 47 three-bedroom units;
  • a total density of 1.20 FSR;
  • Approximate overall building heights up to:
    • 38 ft. facing Ash Street and West 27th Avenue
    • 33 ft. facing rear and side lanes
  • One level of underground parking (approximately 59 stalls) having vehicular access from the north side lane.

Under the site’s existing RM-8A zoning, this application is “conditional” and may be permitted pending review and decision by the Director of Planning.

The architect for the project is Ciccozzi Architecture Inc.

The full application details can be viewed here: https://www.shapeyourcity.ca/531-595-w-27-ave

January 24, 2023by david.taylor@colliers.com
Apartment, Development

32-Storey Rental Building Proposed for Pacific Street Site

Wall Financial has submitted a rezoning application for a site at 1065 Pacific Street in the West End area of Downtown Vancouver.

The 12,972 SF site is currently improved with an older, 3-storey walkup apartment building containing 30 units.

The proposal is to allow for the development of a 32-storey rental building over five levels of underground parking accessed from the lane. The proposal includes:

  • 180 rental units;
  • 144 secured market rental units and 36 below-market rental units;
    • 117 one-bedrooms, 62 two-bedrooms & 1 three-bedroom unit;
  • A total density of 11.19 FSR;
  • A building height of 300 ft.; and
  • 100 vehicle parking spaces accessed via car elevator and 344 bicycle parking spaces.

The application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan.

January 19, 2023by david.taylor@colliers.com
Condo, Development

FOR SALE: North Vancouver Townhouse Development Site

We are pleased to present the opportunity to acquire a pre-assembled townhouse development site in the Maplewood Village area of North Vancouver. The 29,500 SF site is designated to allow townhouses up to 1.20 FSR or approx. 35,500 SF gross buildable.

Current plans envision a 27-unit stacked townhouse development. Full architectural plans and supporting consultant reports are available upon request.

Please visit here or contact me for further details.

January 18, 2023by 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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