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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Apartment, Condo, Development

Polygon Advances Updated “Coronation Heights” Development

Polygon is bringing forward an updated version of their Coronation Heights project to Coquitlam City Council. The 11.3 acre site is a former elementary school that was purchased in 2016. It sits directly East of Wesgroup’s proposed master plan community for Coronation Park, on the Port Moody side.

The original development application was made in March 2021 and has since been refined based on Council and community feedback. Polygon has also acquired additional surrounding lots now incorporated into the plan and has increased the total rental units in the project.

The current proposal includes:

  • Nine towers between 29-47 storeys in height;
  • 2,834 residential units;
  • 2,050 condos;
  • 784 rental units including below market units;
  • a total density of 5.53 FAR;
  • a one-acre public park on the Northwest corner;
  • two child care centres;
  • a 27,000 SF amenity building;
  • 3,600 SF of commercial space.

The project is intended to be built over 6 phases.

The overall project DCCs, density bonus payments and CACs are estimated to be $140 Million.

September 26, 2022by david.taylor@colliers.com
Development, Land

SOLD: West Vancouver Development Site

I am pleased to announce the sale of 6417 Bruce Street in the Horseshoe Bay Village area of West Vancouver.

This 12,200 SF site benefits from strong existing parking revenue, and a well defined OCP designation allowing up to 4-storeys.

Sites like these don’t come up often on the North Shore and our marketing campaign was able to generate multiple offers for our client and ultimately, a successful completion in a relatively quick timeframe.

Please feel free to reach out for further details.

September 18, 2022by david.taylor@colliers.com
Apartment, Development

28 Rental Units Proposed for SW Marine Drive Site

A rezoning application has been submitted to the City of Vancouver that would allow a new rental townhouse development on a one-acre single family lot at 1890 SW Marine Drive in Vancouver.

The site is currently improved with a newer 4,300 SF house with a pool and tennis court. The house was built in just 2005. It most recently sold in 2017 for $10,500,000.

The zoning would change from RS-1 to CD-1. The proposal includes:

  • 28 secured market rental units;
  • A total density of 0.73 FSR;
  • Building heights of 41 ft.; and
  • 24 underground vehicle parking spaces and 68 bicycle parking spaces

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Stuart Howard.

September 17, 2022by david.taylor@colliers.com
Development

30-Storey Hotel Planned for Seymour Street Site

Paul Y. Construction has submitted a rezoning application to the City of Vancouver for a site at 848 Seymour Street in Downtown Vancouver.

The proposal is to allow for the development of a 30-storey hotel that includes:

  • 393 hotel rooms;
  • a total density of 17.7 FSR;
  • A building height of 317 ft.; and
  • 59 vehicle parking spaces and 33 bicycle parking spaces.

The application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulderand the Metro Core Jobs and Economy Land Use Plan.

The architect for the project is Perkins & Will.

August 25, 2022by david.taylor@colliers.com
Development

Phase 2 of Concord Metrotown to Include 5 Towers, 2,100 Units

Concord Pacific has submitted their formal rezoning application to the City of Burnaby for Phase 2 of their Concord Metrotown project, on the Western portion of the overall site.

The overall master plan for the Concord Metrotown project originally proposed four phases of development. Concord has now proposed to coalesce the last three phases into one rezoning as a larger second phase. The total site area of Phase 2 is 5.30 acres and will likely be built out over a period of several years.

The proposal includes:

  • a 40-storey condo & non-market rental building;
  • a 49-storey condo & non-market rental building;
  • a 58-storey condo & non-market rental building;
  • a 47-storey, 375,000 SF office tower at 614 ft. height;
  • a 60-storey market rental building;
  • a gross floor area of 2.3 Million SF;
  • a total density of 9.99 FAR;
  • 1,145 condo units;
  • 188 non-market rental units;
  • 791 market rental units;
  • 616,000 SF of commercial space;
  • 3,054 parking stalls.
July 22, 2022by 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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