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, Condo, Development, Office, Retail

Anthem Proposing 66-Storey Metrotown Tower

Anthem Properties has submitted their rezoning application for a 56,000 sq ft site in the 4600 block of Kingsway and Hazel Street in the Metrotown area of Burnaby. The site includes the Cactus Club building fronting Kingsway.

The project is entitled “Metro King”.

The proposal is 66-storey high-rise residential tower set above a 9-storey
commercial component, with a 7-storey office podium atop a double-height ground floor restaurant and cafe space.

The overall project includes:

  • 645 residential units;
  • 372 condos;
  • 200 market rental units;
  • 73 non-market rental units;
  • a total density of 11.64 FAR;
  • 144,000 sq ft of office space;
  • 5,000 sq ft of retail space;
  • a building height of 692 ft.;
  • 18,000 sq ft of amenity space;
  • 876 underground parking spaces.

The Plan designates the subject site for high-density mixed-use development under the CD Comprehensive Development District utilizing the RM5s/RM5r Multiple Family Residential District and C3 General Commercial District as guidelines.

The architect for the project is Chris Dikeakos.

June 27, 2021by david.taylor@colliers.com
Condo, Development

12 Townhouse Units Pitched for West Vancouver Lot

A preliminary development application has been submitted to the District of West Vancouver for a new townhouse development at 4310 Marine Drive. 

The 23,438 sq ft site is currently single family, but the proposal is being considered under Official Community Plan policy 2.1.4 which aims to increase “missing middle” housing options with ground-oriented multi-family. 

Details of the proposed 3-storey townhouse project include:

  • 12 townhouse units;
  • 5 two-bedrooms & 7 three-bedrooms;
  • a total density of 1.0 FSR;
  • 22 underground parking stalls.

Prior to formal rezoning submission, the applicant is conducting a preliminary public information meeting on July 6, 2021 from 6 to 7:30 p.m. in an online meeting format on the applicant’s website. 

The architect for the project is F. Adab Architects Inc.

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