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, Development

81 Rental Units Proposed for Shaughnessy Site

Domus Homes has submitted their rezoning application for a 0.9 acre two single-family lot land assembly at 4750 Granville Street and 1494 West 32nd Avenue. The combined site is currently zoned from RS-5.

The application comes just six months after the City of Vancouver rejected a townhouse development across the street.

The proposal for the site includes a new 4-storey rental building with:

  • 81 market rental units;
    • 52 one-bedrooms, 19 two-bedrooms & 10 three/four-bedrooms;
  • a total density of 1.50 FSR;
  • a building height of 44 ft; and
  • 70 underground vehicle parking spaces and 154 bicycle spaces.

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Stuart Howard Architects.

Domus acquired the site in October 2019 for $12,700,000 or $223 per buildable SF.

January 29, 2020by david.taylor@colliers.com
Condo, Development

Onni Set to Rezone Second Phase of Gilmore Place

Onni has submitted a rezoning application for the residential portion of Phase 2 of it’s Gilmore Place project. Phase 1 of the project included three residential towers at the Northwest corner of the site, now under construction; Phase 2 also includes an office tower which is in the rezoning stage. There will be four phases in total.

Phase 2 of the project is located along Dawson Street just east of the Gilmore Skytrain Station. This phase includes:

  • two residential highrises of 50-storeys and 43-storeys;
  • 1,012 total condo units;
  • a common underground parkade;
  • a common podium.
January 24, 2020by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

FOR SALE: 14-Acre Mixed-use /Residential Development Site

We are pleased to present this 14-acre residential/mixed-use development site in Burnaby, located adjacent the Sperling-Burnaby Lake Station.

Please download our brochure for further information about the Property.

January 24, 2020by david.taylor@colliers.com
Condo, Development, Office

Landa Global Acquires Richmond Hotel/Condo Site

Landa Global has acquired a 3.4 acre development site on Elmbridge Way in the City Centre area of Richmond for $60 Million. The site is designated Urban Centre T5 within the Oval Village subarea of the City Centre Area Plan.

A rezoning application had been submitted by the previous owner to allow a high-density mixed use residential hotel development in three towers.

The site at 6851 & 6871 Elmbridge Way had been listed for sale with Avison Young in 2019:

We reported the site’s previous sale in 2014. The purchase price at that time was $31,300,000.

January 21, 2020by david.taylor@colliers.com
Development

210-Units Planned for Port Moody Site

An Official Community Plan amendment and rezoning application has been submitted to the City of Port Moody for a new development with two buildings containing a combined total of 210 residential units.

The 1.35 acre site is configured in an “L” shape and consists of six lots located at 3101 & 3103 St. Johns Street, as well as 3104-3112 St. George Street at the corner of Buller Street and just west of Moody Middle School. Each of the subject lots is currently occupied with either a single family home, duplex, or quad-plex.

Details of the proposed development include:

  • 210 total residential units in two buildings (120 & 90 units);
    • 157 condo units;
    • 32 market rental units;
    • 21 below-market rental units;
    • 2 studios, 145 one-bedrooms, 54 two-bedrooms & 9 three bedrooms;
  • 9,331 SF of commercial space (intended for daycare use) on the ground floor;
  • a total density of 2.80 FAR;
  • 306 parking stalls on two underground levels.

The architect for the project is WA Architects.

The site was assembled in 2018 for $21,200,000, or $209 per buildable SF based on the rezoning application.

January 15, 2020by david.taylor@colliers.com
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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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