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, Development

199 ‘Micro Unit’ Rental Project Pitched for West Van Site

A preliminary rezoning proposal has been submitted to West Vancouver for the redevelopment of a one-acre site owned by Park Royal fronting the East side of Taylor Way just north of Park Royal Shopping Centre. 

The site is comprised of three lots fronting Clyde Avenue, as well as a single lot fronting Duchess Avenue. The site has never been developed and is currently serving as an ancillary parking lot for Park Royal North commercial.

The proposal includes a U-shaped 6-storey rental apartment building with a rooftop outdoor amenity level. The building is proposed to include “micro” market rental units.

Details of the preliminary concept include:

  • 199 rental units;
    • 177 micro units at 350 SF
    • 22 studios at 420-440 SF;
  • A total density of 2.0 FAR;
  • 49 parking stalls on one underground level;
  • an “outdoor amenity opportunity” fronting Duchess;
  • rooftop amenity garden and common working spaces.

The architect for the project is DA Architects & Planners.

Council is scheduled to consider the preliminary development proposal on October 4, 2021, to determine if the proposal can proceed to public consultation prior to the adoption of the Taylor Way Local Area Plan.

September 23, 2021by david.taylor@colliers.com
Condo, Development

70-Unit Condo Building Slated for East Broadway Site

Bucci Developments has submitted a rezoning application for an assembly of 5 single family homes at 2062-2092 East Broadway, at the corner of Lakewood Drive in the Grandview Woodland area of East Vancouver.

The proposal is to allow a 6-storey condo building that includes:

  • 71 condos;
    • 22 studios, 22 one-bedrooms, 18 two-bedrooms & 9 three-bedrooms;
  • A total density of 2.65 FSR;
  • A building height of 66 ft.;
  • 71 underground vehicle parking spaces and 140 bicycle parking spaces

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

The architect for the project is RHA Architects.

September 18, 2021by david.taylor@colliers.com
Apartment, Condo, Development

8-Storey Building Pitched for Marine & Taylor Way Site

Executive Group has submitted a rezoning application for the 54,000 sq ft. site they own at the Northeast corner of Marine Drive and Taylor Way in West Vancouver.

The proposal is to construct an 8-storey residential building, and designate the existing office building at 660 Clyde Avenue as a protected heritage resource. The proposal includes:

  • 68 condos;
  • 21 rental units;
  • a total density of 2.0 FAR;
  • new pedestrian connections and plazas, a separated bike path, a “parkette,” and new landscaping;
  • 112 underground parking spaces.

The architect for the project is DYS Architecture.

September 16, 2021by david.taylor@colliers.com
Apartment, Development

Adera Planning New 60-Unit Rental Building for Upper Lonsdale

Adera has submitted a rezoning application to the City of North Vancouver for a property they own at 2762 Lonsdale Avenue in the Upper Lonsdale area of North Vancouver.

The 17,353 sq ft site is located mid-block on the east side of Lonsdale Avenue between 27th and 29th Streets. The site is currently improved with an older 3-storey walkup apartment building with 26 units.

The proposal is for a new 6-storey rental building that includes:

  • 60 rental units;
    • 21 studios, 19 one-bedrooms, 11 two-bedrooms & 9 three-bedrooms;
    • 54 market units & 6 mid-market units;
  • a total density of 2.33 FSR;
  • 36 parking spaces.

The architect for the project is Integra Architecture.

Adera acquired the site in 2020 for $9,450,000 or $227 per buildable sq ft.

September 16, 2021by david.taylor@colliers.com
Apartment, Development

Revised Plan for ‘Gardenworks’ Property in North Van Includes 70 Rental Units

A new rezoning application has been submitted by Lotus Capital and Omicron to the City of North Vancouver for 705 West 3rd Street, currently home to Gardenworks.

A previous proposal from 2017 proposed a 6-storey condo building with 55 units. Now, the application has been revised to reflect land dedications for an new and improved rapid bus stop, market conditions and government financing incentives.

The site is designated Mixed-use Level 2 in the OCP.

The new proposal is a 6-storey rental building. Details include:

  • 70 market rental units;
    • 4 studios, 47 one-bedrooms, 12 two-bedrooms & 7 three-bedrooms;
  • a private child care facility on the ground level;
  • a total density of 2.50 FSR;
  • 87 parking stalls on two levels of underground.

The architect for the project is Ankenman Marchand.

September 16, 2021by david.taylor@colliers.com
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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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