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

27-Unit Condo Building Slated for Cambie & 64th

A rezoning application has been submitted for a site at 7969-7989 Cambie Street.

The proposal is to allow for the development of a 6-storey residential building and includes:

  • 27 condo units;
  • 16 one bedrooms, 9 two-bedrooms & 2 three-bedrooms;
  • A total density of 2.46 FSR;
  • A building height of 69 ft.;
  • 34 vehicle parking spaces and 69 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is GUD Group.

The site was acquired by South Cambie Holdings in 2016 for $5,100,000 or $200 per buildable sq ft.

August 5, 2021by david.taylor@colliers.com
Apartment, Development, Retail

9-Storey Rental Building Planned for Granville Street Site

A development application has been submitted to the City of Vancouver to develop a new mixed-use rental apartment building on the Granville Strip. The site at 1250 Granville Street is 8,998 sq ft and is currently occupied by the National Rental Car building and parking lot.

The redevelopment plan for the site is a 9-storey passive house rental apartment building with retail on the ground floor.

The application comes following the City’s current planning work to consider allowing more rental housing on the two block stretch of Granville between Helmcken and Drake Streets. Previous policy allowed a maximum of 3.50 FSR.

Details of the proposal include:

  • 61 market rental units;
  • 46 one-bedrooms & 15 two-bedroom units;
  • 2,425 sq ft of ground floor retail space;
  • a total density of 4.54 FSR;
  • a building height of 95 ft.;
  • shared rooftop amenity space;
  • 22 parking stalls on one level of underground parking having vehicular access from the lane.

Under the site’s existing DD-K3 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Development Permit Board.

The architect for the project is Lang Wilson Practice in Architecture Culture.

August 5, 2021by david.taylor@colliers.com
Development

42 Condo Units Planned for Arbutus & 10th Site

Bastion Developments has applied to the City of Vancouver for permission to develop a 5-storey, mixed-use building at the Southwest corner of Arbutus & 10th, formerly Gordon’s Auto Body. The C-8 zoned site is 17,248 sq ft.

The proposal for the site is a mass timber, passive house condo building with:

  • 42 condo units;
  • 21 one-bedrooms & 21 two-bedrooms;
  • 2,700 sq ft of retail and restaurant space;
  • a total density of 2.36 FSR;
  • A height of 60 ft.;
  • Three levels of underground parking providing 82 parking spaces having vehicular access from Cranberry Drive at the rear.

The architect for the project is Stephane Laroye.

The full development application can be viewed here: https://shapeyourcity.ca/2120-w-10-ave

Bastion acquired the site in 2018 for $23,000,000 or $529 per buildable sq ft based on the application.

July 26, 2021by david.taylor@colliers.com
Condo, Development

FOR SALE: Cambie Village Mixed-Use Development Opportunity

I am pleased to introduce this listing of a mixed-use development site on Cambie Street, directly across from King Edward Canada Line Station.

Please click here for more information: https://www.collierscanada.com/en-ca/properties/for-sale-cambie-village-development-opportunity/can-4020-4050-4060-cambie-street-vancouver-british-columbia-canada/can2008162

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

58-Unit Rental Project Slated for Central Lonsdale Site

Adera has submitted a rezoning application for a 14,932 sq ft. site they own at 1220 St. Georges Avenue at the Northeast corner of St. George’s and East 12th in the Central Lonsdale area of North Vancouver. The site is one block south of the Lions Gate Hospital and east of the Fire Hall.

The proposal would replace an existing 23-unit rental apartment building at 1220 St. Georges that was built in the late 1950s.

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

  • 58 units;
  • 17 studios, 23 one-bedrooms, 12 two-bedrooms & 6 three-bedrooms;
  • a total density of 2.59 FSR;
  • a rooftop amenity deck;
  • a building height of 59 ft.;
  • 32 underground parking stalls.

The architect for the project is Integra Architecture.

The site was acquired in 2019 for $8,025,000 or $207 per buildable sq ft. based on the application.

July 15, 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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