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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Condo, Development, Office, Retail

7-Storey Condo Building Pitched for Lower Lonsdale Site

Staburn Group have submitted a rezoning application for a 12,000 SF site at 119-123 East 2nd Street in the Lower Lonsdale area of North Vancouver. The site is currently improved with two small commercial buildings.

The site is designated Mixed Use Level 4A (High Density) (MU4A) in the Official Community Plan. This designation allows for a mix of commercial and residential use with a maximum density of 3.6 FSR (including 1.0 bonus FSR) and a maximum height of 8-storeys.

The proposal envisions a 7-storey condo building with commercial uses on the ground floor.

Details include:

  • 28 condo units;
    • 5 one-bedrooms, 14 two-bedrooms & 9 three-bedrooms;
  • 3,466 SF of office space;
  • 3,563 SF of retail space;
  • a total density of 3.60 FSR;
  • 48 underground parking spaces.

The architect for the project is RHA Architects.

April 29, 2022by david.taylor@colliers.com
Condo, Development, Retail

90 Condo Units Planned for North Van Site

Polygon has submitted a rezoning application to the City of North Vancouver for a site they own at 818-858 West 15th Avenue, near the intersection of Marine Drive and Fell Avenue.

The site is located mid-block on the North side of West 15th Street and is currently improved with an older single-storey commercial building.

The site is designated Mixed Use Level 2 in the Official Community Plan. This designation allows for a mix of commercial and residential uses with a maximum density of 2.5 FSR (including 0.5 bonus FSR).

The proposal is a 6-storey condo building with retail at grade. Details include:

  • 90 condo units;
    • 65 one-bedrooms, 15 two-bedrooms & 10 three-bedroooms;
  • 11,000 SF of retail space;
  • a total density of 2.50 FSR;
  • 129 parking stalls.

The architect for the project is SHIFT Architecture.

April 29, 2022by david.taylor@colliers.com
Condo, Development, Office, Retail

Condo Tower Planned For North Vancouver Site

Polygon has submitted their rezoning application to develop the site that they own at 114-132 West 15th Street in the Central Lonsdale area of North Vancouver. The 25,206 SF site is currently improved with two older lowrise commercial buildings.

The site is designated Mixed Use Level 4B (High Density) in the Official Community Plan. This designation allows for a mix of higher-density multi-family and commercial uses with a maximum density of 4.0 FSR (including 1.0 bonus FSR). A further density transfer is proposed.

The application proposes a 22-storey mixed-use building, with two levels of commercial including retail and services at ground level, office commercial uses at level two, and 20 storeys of condo units above.

The proposal includes:

  • 136 condo units;
    • 38 one-bedrooms, 77 two-bedrooms & 21 three-bedrooms;
  • 7,452 SF of ground floor retail space;
  • 16,985 SF of 2nd floor office space;
  • a total density of 7.05 FSR;
  • 198 underground parking spaces.

The proposal includes 76,993 SF of density transferred from the Harry Jerome lands owned by the City. The purchase of the density comes at a price of $19,248,250 or $250 per SF.

The architect for the project is IBI Group.

April 24, 2022by david.taylor@colliers.com
Condo, Development, Land

FOR SALE: West Vancouver Development Site

We are pleased to present for sale 6417 Bruce Street in West Vancouver, B.C. This is a 12,200 SF residential/mixed-use development opportunity in the heart of Horseshoe Bay’s village area.

The Horseshoe Bay Local Area Plan and Design Guidelines were adopted by West Vancouver Council in 2021, and only a handful of properties benefit from the ‘Village Heart’ designation. This is a great opportunity to build up to 4-storeys, 2.0 FAR (approx. 24,000 SF gross buildable) on a flat site with 100 ft. of frontage.

The existing parking lot also generates excellent income for a purchaser while working through the design and approval process.

Please click here or contact us for further details.

April 21, 2022by david.taylor@colliers.com
Development, Office

12-Storey Mass Timber Office & Industrial Building Planned for Mount Pleasant Site

PC Urban and Hines have submitted their development application for 123 East 6th Avenue, at the Northeast corner of East 6th and Quebec in Mount Pleasant.

The proposal is for a 12-storey mixed-use office and industrial building (named ‘T3 Mount Pleasant’) within the I-1B zoning guidelines. Schedule and comprises 196,351 sf of floor area. The project also consists of the relocation, designation and conservation of an existing two-storey 10,632 sf SFU Annex heritage building for the purpose of delivering to the City to operate as an arts centre.

The project will be constructed using a mass timber superstructure and designed according to Hines’ proprietary “T3 system” which combines timber, transit and technology.

Details of the project include:

  • 196,351 SF of gross floor area;
  • A total density of 6.60 FSR;
  • A proposed height of 150 ft.;
  • Three levels of underground parking, having vehicular access from the lane.

The architecture team for the project is DLR Group with Proscenium Architecture.

April 12, 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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