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, Rental

Latest Broadway Plan Tower Application is for 18-Storey Tower at Yukon & 14th

A rezoning application has been submitted for an 18,563 SF, three lot land assembly at the Southwest corner of Yukon & West 14th in the Cambie Village area of Vancouver.

The site is located in the Mount Pleasant RT Area (MRTB) of the Broadway Plan.

The proposal is to allow for the development of a 18-storey rental building and includes:

  • 134 units with 20% below-market;
  • a total density of 5.50 FSR;
  • A building height of 197 ft.

This application is being considered under the Broadway Plan.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/426-428-w-14-ave-and-3015-3027-yukon-st

The architect for the project is Stuart Howard Architects.

August 21, 2024by david.taylor@colliers.com
Apartment, Development, Office, Retail

PCI Planning 600 Rental Units, Office Tower For False Creek Flats Site

PCI Group & Low Tide Properties have submitted their rezoning application for 1155 East 6th Avenue.

The site is located adjacent to VCC-Clark SkyTrain Station directly north of Vancouver Community College with China Creek Park located to the southwest.

The Broadway Plan envisions high-density industrial, office, and retail uses with a maximum density of 10.0 FSR for 1155 E 6th Ave.

The proposal for the site is a mix of uses including a 19-storey office building (west tower) and two 35-storey mixed-use rental buildings (centre and east towers) and includes:

  • 600 rental units including 120 below market units;
  • 180,000 SF of office space;
  • a full size grocery store;
  • 40,000 SF of light industrial space;
  • a 64-space childcare facility dedicated to the City; and
  • a total density of 8.67 FSR.

This application is being considered under the Broadway Plan.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1155-e-6-ave

The site was acquired in 2021 for $110,635,700, or $148 per buildable SF based on the application.

August 15, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

34-Storey Rental Tower Planned for Broadway & Granville

Gracorp has submitted a rezoning application for a site at 1470-1476 West Broadway, on the South side of Broadway just East of Granville.

The proposal for the 15,633 SF site is to allow for the development of a 34-storey rental tower that includes:

  • 300 rental units;
  • 20% below-market;
  • 2,500 SF of retail space;
  • a secondary Broadway Subway station entrance for South Granville station;
  • a total density of 13.0 FSR;
  • A building height of 391 ft.

This application is being considered under the Broadway Plan. The application requests consideration of additional density and for a reduction in the minimum job space requirements.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1470-1476-w-broadway

July 26, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

20-Storey, 185-Unit Rental Tower Planned for Kits Site

Millenium Development has submitted a rezoning application for a new rental tower proposal at 2170 West 1st Avenue, near the corner of Yew Street in the Kitsilano area of the Broadway Plan.

The 21,000 SF site is located in the Kitsilano North – Area B (KKNB) policy area of the Broadway Plan.

The proposal calls for a 20-storey rental tower with a 4-storey podium and includes:

  • 185 rental units;
  • 20% below market;
  • 6,300 SF of commercial space;
  • A total density of 6.80 FSR;
  • A building height of 212 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Chris Dikeakos.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2158-2170-w-1-ave

July 18, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Anthem Completes Oakridge Tower Site Acquisition

Anthem Properties has completed on the purchase of a three-lot land assembly in the Oakridge Municipal Centre area of Vancouver.

The deal for the site at 5630-5688 Heather Street was originally started in 2022 and since late 2023 has been under a rezoning application for an 18-storey, 184 unit rental tower. The application was referred to public hearing on July 9, 2024.

5630-5668 Heather Street – Proposed Mixed-Use Rental Housing Development from BHA Architecture on Vimeo.

The purchase price for the site was $23,550,000, or $175 per buildable SF based on the application density.

July 17, 2024by 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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