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, Retail

Plans Unveiled for PCI’s Spring Street Development in Port Moody

The formal rezoning application for PCI‘s Spring Street application has been released. The preliminary application for the 2.9 acre site was submitted in 2023 and has now been revised for full submission following the TOA legislation.

The site is located east of the Moody Centre SkyTrain Station north of Spring Street and east of Williams Street and consists of four lots, three of which are owned by PCI and the fourth by the Ministry of the Transportation and Infrastructure (MoTI). MoTI intends to retain ownership of this lot, with a long-term lease to PCI for use as a plaza along with four levels of below-grade parking connected to the below grade parking on the PCI owned properties.

The overall plan for the site includes:

  • 865 rental units including 44 below market units;
  • 67,000 SF of commercial space including a 41,000 SF grocery store;
  • a total density of 6.96 FSR;
  • 4,000 SF as ground level ‘artist space’;
  • a new pedestrian overpass;
  • a minimum of 400 parking stalls.

The architect for the project is Perkins + Will.

October 19, 2024by david.taylor@colliers.com
Apartment, Rental, Retail

14-Unit Rental Project Planned for 33 ft. Commercial Drive Lot

A development application has been submitted for a small lot at the Northeast corner of Commercial Drive and East 14th Avenue in East Vancouver.

2954 Commercial Drive is a 3,797 SF lot (33′ x 115′) that is zoned C-2C1. The site is now vacant but was previously home to the Scribes Rugby Club.

The proposal for the site is a 6-storey mixed use building with rental above retail, including:

  • 14 rental units;
    • 4 studios, 4 one-bedrooms & 6 two-bedrooms;
  • Retail space at grade;
  • a total density of 3.49 FSR;
  • A proposed height of approximately 68.0 ft.;
  • 6 vehicle parking spaces located down the block at 1725 East 13th (off the lane).

The architect for the project is MA + HG Architects.

September 27, 2024by david.taylor@colliers.com
Apartment, Development, Rental

West End Condo Project Revised as Rental Tower

PC Urban has submitted a rezoning application for a rental tower at 1150 Barclay Street. The site was originally envisioned for redevelopment as an 11-storey, 21-unit condo project, but did not move forward.

The site is 11,925 SF and the existing building is a 3-storey co-op with 19 units.

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

  • 152 rental units (20% below market);
  • Community space on the ground floor;
  • A total density of 9.10 FSR;
  • A building height of 193 ft. with additional height for rooftop amenity space.

This application is being considered under the West End Community Plan.

The architect for the project is MCM Architects.

September 1, 2024by david.taylor@colliers.com
Apartment, Rental

20-Storey Broadway Plan Proposal Includes Heritage Retention

Fiera Real Estate has submitted a rezoning application for 1375-1395 West 14th Avenue, Vancouver, B.C. in the South Granville area of the Broadway Plan.

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

  • 203 rental units (20% below market);
  • Retention of The Grange heritage building (Vancouver Heritage Register Category ‘C’);
  • a total density of 7.20 FSR;
  • A building height of 233 ft.

This application is being considered under the Broadway Plan.

The site includes a heritage building at 1395 W 14th Ave, and as such, the City’s Heritage Program and Heritage Policies apply. The application proposes retention of the street façades along Hemlock St and W 14th Ave; and, rehabilitation of the overall site and structure for what was originally built as The Grange (Vancouver Heritage Register Category ‘C’).

The architect for the project is SHAPE Architecture.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/1375-1395-w-14th-ave/application-booklet.pdf

August 28, 2024by david.taylor@colliers.com
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
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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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