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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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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
Development, For Sale, Land

Broadway Plan Tower Site Closes in $31M Deal

Marcon has completed an acquisition of a 20,647 SF site at the Southeast corner of West 3rd and Vine in Kits for $30,700,000, or $195 per buildable SF.

Marcon originally submitted a rezoning application under the Broadway Plan for a 207-unit, 21-storey rental tower in 2024, with a revised application increasing the height to 22-storeys in July 2025.

September 26, 2025by david.taylor@colliers.com
Development

City of Burnaby Finalizes Official Community Plan, Targest December 2025 Final Adoption

The City of Burnaby adopted the final draft version of their updated Official Community Plan, to be forwarded to public hearing and final adoption this fall.

The final version of the OCP is the culmination of a multi-year process that was most recently accelerated by the new Provincial legislation.

The final draft of the OCP can be viewed here:

https://pub-burnaby.escribemeetings.com/filestream.ashx?DocumentId=83303

The approval process:

The new OCP arrives concurrently with Burnaby’s new ‘Height Based Zoning Framework’ which removes the previous rezoning designations and replaces them with a new height based model.

Implications for rezoning and property values remain to be seen, but the new framework is expected to create more transparency in the overall process.

September 16, 2025by david.taylor@colliers.com
Condo, Development, Rental, Retail

Four Towers, 1,959 Units Proposed for East Van Land Assembly

Sightline Properties has submitted their rezoning application for a 26-lot land assembly that they acquired earlier this year.

The 3.1 acre combined site is located within the Rupert Renfrew Plan area, and is bound by Kaslo Street, Renfrew Street, Broadway and 10th Avenue.

The proposal is to allow for the development of four residential towers, containing condos, rentals and below market rentals, as well as retail and daycare space.

Details include:

  • 1,959 residential units; with
  • 1,386 condo units;
  • 573 rental units with 20% of the floor area for below-market units;
  • Commercial space, a 73-space private child care, and amenities on the ground floor;
  • a total density of 10.5 FSR; and
  • Building heights ranging from 537 ft. to 618 ft..

The plan is for a four phase development with a tower in each phase.

This application is being considered under the Rupert Renfrew Station Area Plan.

The architect for the project is Arcadis.

The full application can be viewed here: https://www.shapeyourcity.ca/2808-2888-e-broadway

September 16, 2025by david.taylor@colliers.com
Condo, Development

Redevelopment of Former CIBC Site in South Granville Envisions Two Towers

Amacon has submitted their rezoning application for the former CIBC office property at West 7th and Pine in the Fairview/South Granville area of Vancouver.

The 57,000 SF site runs along Pine between West 7th and West 8th.

The proposal is to allow for the development of a 28-storey and a 29-storey towers, and includes:

  • 421 condo units;
  • 107 social housing units;
  • Live-work space;
  • a 50-space childcare;
  • a total density of 8.50 FSR;
  • four levels of underground parking;
  • Building heights up to 300 ft.

This rezoning application is being considered under the Broadway Plan.

Our team originally sold this site in 2016 to Delta Land Development for $70,000,000. It was later resold to Amacon.

The architect for the project is Chris Dikeakos Architects Inc.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/1745-w-8th-ave/application-booklet.pdf

August 28, 2025by david.taylor@colliers.com
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vancouvermrkt Vancouver Market @vancouvermrkt ·
11 May

District of North Van council sends proposed CapU student housing tower back to drawing board via @NorthShoreNews

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

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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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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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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