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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Development, Rental, Retail

GWL Proposing Two Towers, 470 Rental Units for False Creek Flats Site

GWL has submitted their formal rezoning application for 1220 Station Street, following a formal announcement earlier this year that they were pivoting from the previously approved office building proposal. GWL acquired the site from Rize Alliance.

The current proposal is two rental towers, 36 & 28-storeys, as well as retail, office, and residential uses in an an 8-storey podium. Overall, the proposal includes:

  • 470 units with 20% of the floor area for below-market rental units;
  • a total density of 11.1 FSR;
  • A building height of 287 ft. and 360 ft.

This application is being considered under the False Creek Flats Plan and the Transit-Oriented Areas Rezoning Policy.

The architect for the project is MCM.

The full application can be viewed here: https://www.shapeyourcity.ca/1220-station-st

October 3, 2025by david.taylor@colliers.com
Development, Rental

Nicola Proposing 22-Storey Rental Tower for False Creek Flats Site

Nicola Real Estate has submitted a rezoning application for a site that they recently acquired in foreclosure at 304-316 East 1st Avenue at Scotia Street.

The proposal is to allow for the development of a 22-storey rental tower with a 2-storey podium and includes:

  • 181 units with 20% of the floor area for below-market rental units;
  • 3,742 SF of retail space;
  • 13,341 SF of office space;
  • a total density of 9.80 FSR;
  • A building height of 232 ft.

This application is being considered under the Broadway Plan and requests additional height and density in excess of the existing plan.

The architect for the project is MCM.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/304-316-e-1-ave/application-booklet.pdf

October 3, 2025by david.taylor@colliers.com
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
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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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