Colliers has released their Q2 2012 retail market report. The retail market in Metro Vancouver has been consistently active with many landlords, retailers and investors experiencing the benefits of a high-priced market.

Highlights from the report:

• The overall vacancy rate for Metro Vancouver increased from 2.7 percent in Q4 2011 to 3.9 percent this quarter
• Accounting for the majority of increased vacancy is Chilliwack moving from 4.3 percent in Q4 2011 to 10.9 percent this quarter, Richmond moving from 1.9 percent in Q4 2011 to 6.2 percent this quarter.
• Deal velocity remained consistent so far this year with many lower priced properties trading hands, while deal volume has slowed
• The federal government increased duty-free limits for cross-border shopping, which went into effect on Jun 1, 2012, putting further pressure on Canadian retailers

Source: Colliers International

Next week’s rezoning hearing on Tuesday July 10th has a large roster of applications and will be sure to keep Vancouver City Council busy well into the evening.  There are a total of 10 items on the agenda for the July 10 public hearing which begins at 7:30 pm at City Hall.

Some of the more notable applications include:

800 Griffiths Way (Rogers Arena Towers by Aquilini Development)

1388 Continental Street (Neon by Cressey)

4837-4861 Cambie Street (Mosaic)

Plan for 33-storey tower clears more hurdles.

Despite protests from neighbours to the east and residents directly around the site, a new 33-storey tower straddling the border of Coquitlam and Port Coquitlam received yet another green light Monday.

Coquitlam council unanimously granted second and third readings to a rezoning application designed to accommodate a new development at the corner of Westwood Street and Lincoln Avenue.