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

1,400 Unit Student Housing Development Proposed Near SFU

Forum Asset Management has submitted a preliminary for a large-scale, multi-phase student housing project on the Eastern border of Burnaby, at the bottom of the hill below SFU.

The 3.7 acre site is an assembly of 16 single family lots on the East side of Rathburn Drive at Broadway. It is designated in the Burnaby 2050 Official Community Plan Draft as Mid Rise Apartment 1, which supports mid-rise residential apartment buildings of up to 12 storeys.

The preliminary proposal for the site calls for four terraced buildings, up to 16-storeys, and includes:

  • 950 student housing units
  • 450 market rental units
  • Two phases

The architect for the project is Gensler.

October 24, 2025by david.taylor@colliers.com
Development, Rental

Cressey Planning 280 Rental & Social Housing Units at Commercial & Pender

Cressey has submitted a rezoning application for a site at the Northwest corner of Commercial Drive and East Pender Street in the Grandview Woodlands area of East Vancouver for a new residential development. The project is a partnership with the Kettle Society.

The 25,000 SF site is currently zoned MC-1 Industrial and is occupied by two older lowrise commercial buildings.

The proposal is for a 22-storey rental tower and 6-storey social housing lowrise and includes:

  • 239 market rental units;
  • 41 social housing units;
  • a new drop in centre for Kettle Society (currently at 1725 Venables)
  • a total density of 7.90 FSR.

The application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is DYS Architecture.

October 20, 2025by david.taylor@colliers.com
Development, Rental, Retail

GWL Proposing Two Towers, 470 Rental Units for False Creek Flats Site

GWL has submitted their formal rezoning application for 1220 Station Street, following a formal announcement earlier this year that they were pivoting from the previously approved office building proposal. GWL acquired the site from Rize Alliance.

The current proposal is two rental towers, 36 & 28-storeys, as well as retail, office, and residential uses in an an 8-storey podium. Overall, the proposal includes:

  • 470 units with 20% of the floor area for below-market rental units;
  • a total density of 11.1 FSR;
  • A building height of 287 ft. and 360 ft.

This application is being considered under the False Creek Flats Plan and the Transit-Oriented Areas Rezoning Policy.

The architect for the project is MCM.

The full application can be viewed here: https://www.shapeyourcity.ca/1220-station-st

October 3, 2025by david.taylor@colliers.com
Development, Rental

Nicola Proposing 22-Storey Rental Tower for False Creek Flats Site

Nicola Real Estate has submitted a rezoning application for a site that they recently acquired in foreclosure at 304-316 East 1st Avenue at Scotia Street.

The proposal is to allow for the development of a 22-storey rental tower with a 2-storey podium and includes:

  • 181 units with 20% of the floor area for below-market rental units;
  • 3,742 SF of retail space;
  • 13,341 SF of office space;
  • a total density of 9.80 FSR;
  • A building height of 232 ft.

This application is being considered under the Broadway Plan and requests additional height and density in excess of the existing plan.

The architect for the project is MCM.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/304-316-e-1-ave/application-booklet.pdf

October 3, 2025by david.taylor@colliers.com
Condo, Development

West Van Condo Proposal Revived After Five Years

A revised development proposal by IKOR Group for 1763 Bellevue Avenue is back at council after five years on ice, and over a decade since it was originally proposed.

The 12,190 SF site is located on the north side of the 1700 Block of Bellevue in the Ambleside area. It is currently developed with a two-storey building (formerly the Masonic Hall).

Earlier proposals for mid-rise buildings on the site had been made between 2014 and 2021, but were ultimately shelved pending the completion of the Ambleside Local Area Plan, which was close to final adoption earlier this year, but has not been adopted.

The Ambleside LAP identifies the site as “Waterfront G” which envisions new commercial or mixed-use development up to 3.5-4.0 FAR and 10-12 storeys.

The current proposal for the site is a 9-storey condo building that includes:

  • 24 condo units;
    • 20 two-bedroom units, 4 three-bedroom units;
  • 2 commercial/office units fronting Bellevue;
  • a total density of 3.47 FSR;
  • 43 underground parking stalls;
  • 6,800 SF of community space on the 2nd floor.

SSThe architect for the project is Arcadis.

October 3, 2025by 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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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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