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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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, Retail

4-Storey Rental Building Proposed for Commercial Drive

Headwater Projects has applied to the City of Vancouver for permission to develop a site they own at 2886 Commercial Drive, at the Northeast corner of Commercial and East 13th in East Vancouver.

The site is 14,000 sq ft and zoned C-2C1. It is currently occupied by a single storey Auto Centre with a large surface parking lot.

Detail of the proposal include:

  • 47 market rental units;
  • 21 studios, 17 one-bedrooms & 9 two-bedroom units;
  • 6,800 sq ft. of retail on the ground floor;
  • A proposed Height of 45 ft.;
  • A total density of 2.59 FSR;
  • One level of underground parking w/24 stalls.

Under the site’s existing C-2C1 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Musson Cattell Mackey.

The full development application can be viewed here: https://shapeyourcity.ca/2886-commercial-dr

June 25, 2021by david.taylor@colliers.com
Condo, Development

Cambie Townhouse Block Sells in $19 Million Deal

A full city block site on West 33rd Avenue between Laurel and Willow Streets has sold to Vertex Developments for $18,726,000, or $425 per buildable sq ft.

The 5 single-family lot assembly at 809-889 West 33rd Avenue is designated for townhouse development and has been rezoned to RM-8A through the sale process. The zoning allows townhouses to a density of 1.20 FSR.

The 49-unit project, entitled ‘Avenue 33‘ is in registration phase for pre-sales with Magnum Projects.

The architect for the project is Formwerks.

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

20-Unit Townhouse Project Slated for West 32nd

OAK32 Holdings Ltd. has applied to the City of Vancouver for permission to develop a two-lot land assembly at 916 and 926 West 32nd Avenue. The 15,500 sq ft site has already been rezoned to RM-8A which allows 1.20 FSR for townhouses per the Cambie Corridor Plan.

The proposal includes:

  • A total of 20 townhouse units;
  • 8 garden flat one-bedrooms, and 12 two, three & four-bedroom townhouses;
  • A proposed maximum height of 43 ft.;
  • A density of 1.20 FSR;
  • One level of underground parking.

The site was assembled in 2017 for $7,105,000 or $382 per buildable sq ft.

The architect for the project is Imperial Architecture.

June 22, 2021by david.taylor@colliers.com
Apartment, Development

23 Rental Units Slated for Lower Lonsdale Site

A rezoning application has been submitted by Three Shores Development for a 6,000 sq ft site at 133 East 4th Street in the Lower Lonsdale area of the City of North Vancouver. The site is currently improved with the Gospel Hall Church which is relocating.

The proposal is a 6-storey rental building consisting of:

  • 23 rental apartment units, three of which are mid- market rental units;
  • 12 one bedrooms, 5 two-bedrooms & 6 three-bedrooms;
  • a private 2,700 sq ft daycare on the lower level;
  • a total density of 2.55 FSR;
  • a building height of 43 ft;
  • 1 on-site parking stall for the childcare use.

The architect for the project is Integra Architecture.

June 19, 2021by david.taylor@colliers.com
Condo, Development

15 Townhouse Units Pitched for Moodyville Site

The City of North Vancouver has received a Development Permit application for 427-435 East 3rd Street, a 12,000 sq ft. two lot land assembly on the south side of East 3rd Street between St. Patrick’s Avenue and St. David’s Avenue.

The proposal is a 4-storey passive house townhouse development over one level of underground parking and includes:

  • 15 townhouse units;
  • 4 one-bedroom units, 3 two-bedroom units & 8 three-bedroom units;
  • a density of 1.60 FAR;
  • 16 underground parking stalls.

The site sold in 2020 for $5,670,000 or $297 per buildable sq ft. based on the application.

The architect for the project is BFA Studio Architects.

June 18, 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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