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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Development, Rental

GEC Proposing 26-Storey Rental Tower for Cambie & 48th Site

GECC (Global Education Communities) has submitted a rezoning application for a site they own at the corner of Cambie & 48th in Vancouver.

The site was previously rezoned for a 10-storey, 78-unit market rental project, but was then sold in 2024 to GECC by Casey Weeks and Morgan Iannone of Colliers.

Under the new TOA rezoning policy, a new proposal “GEC Langara” has been brought forward to allow for the development of a 26-storey rental building and includes:

  • 182 rental units (20% below market);
  • 1,100 SF of retail space;
  • a total density of 10.24 FSR; and
  • A building height of 261 ft.

The application is being considered under the Transit-Oriented Areas Rezoning Policy and Cambie Corridor Plan. The application requests consideration of density and height in excess of the existing policies.

The 2024 sale at $17,500,000 equates to $111 per buildable SF.

The architect for the project is Urban Solutions Architecture.

The full rezoning can be viewed here: https://rezoning.vancouver.ca/applications/6428-6438-cambie-st-and-480-488-w-48-ave/application-booklet.pdf

February 15, 2025by david.taylor@colliers.com
Development, Rental

416-Units, Two Towers Proposed by for Broadway Plan Site

Crestpoint, in partnership with InterRent REIT, have submitted a rezoning application for a 45,000 SF site at 2244-2280 West 6th Avenue for a new two-tower rental development.

The site has 375 ft. of frontage and is located in the Kitsilano North area of the Broadway Plan, on West 6th Avenue, between Yew and Vine Streets. The site is improved with two older lowrise apartment buildings with 89 existing units.

The proposal is to allow for the development of two 20-storey rental towers with a four-storey podium and includes:

  • 416 rental units;
  • 20% of the floor area for below-market units;
  • a total density of 6.50 FSR;
  • A building height of 219 ft.) with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Kasian.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2244-2280-w-6-ave

February 5, 2025by david.taylor@colliers.com
Apartment, Development, Rental

10-Storey Rental Building Proposed Under New TOA Rezoning Policy

Vittori Developments has submitted an application for a new 10-storey rental building on an assembly of two single family lots on West 27th Avenue, just East of Cambie Street. The combined lot size is 15,000 SF.

The lots are currently designated within the Cambie Corridor Plan for townhouses, but is located within Tier 2 – 400 meters of the King Edward Skytrain Station. Under the TOA rezoning policy, the site is allowed up to 12-storeys, 4.0 FSR.

The proposal for the site contemplates a 10-storey concrete rental apartment building that includes:

  • 63 rental units (20% below market);
    • 27 one-bedroos, 18 two-bedrooms and 18 three-bedrooms;
  • a total density of 4.0 FSR;
  • a building height of 113 ft.
  • 66 underground parking spaces on two levels.

The architect for the project is Raffaele Architecture Inc.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/466-476-w-27-ave

February 1, 2025by david.taylor@colliers.com
Apartment, Development, Retail

Broadway Plan Application at West 1st & Arbutus Envisions 176 Rental Units

The latest Broadway Plan tower application is for a land assembly at the Southeast corner of West 1st and Arbutus in the Kits neighbourhood.

The site is 18,000 SF (150′ x 120′) and is owned by TKT Holdings Ltd.

The proposal is to allow for the development of a 20-storey rental building and includes:

  • 176 units with 20% of the floor area for below-market units;
  • 2,000 SF of retail space;
  • a total density of 6.80 FSR; and
  • A building height of 214 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

January 21, 2025by david.taylor@colliers.com
Condo, Development, Land, Rental

FOR SALE: Burnaby Woodframe Development Site

Charlie Hughes and I are pleased to introduce this 12,508 SF woodframe development site in the Edmonds area of Burnaby.

The site is located within the Edmonds Community Plan area which is expected to be finalized by Burnaby City Council in Spring 2025.

Please view our brochure for more information:

BRO_6449-6461 ELWELL STREET_BURNABYDownload
January 21, 2025by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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