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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Apartment, Development, Rental

Application Submitted for 21-Storey, 231 Unit Rental Tower at 2225 West 8th Ave

The latest Broadway Plan application is for a site at 2225 West 8th Avenue, near the Northwest corner of West 8th and Yew in Kits. The site is owned by Prospero International Realty and Five Mile Holdings, which own several Broadway Plan sites.

The 23,984 SF site is currently improved with an older 3-storey walkup apartment building. The site is located in the Kitsilano North – Area A – Broadway Plan KKNA subarea of the Broadway Plan which allows for rental towers up to 20-storeys in height, with further height and density for provision of commercial space on the ground floor.

The proposal is a 21-storey rental tower that includes:

  • 231 market rental units;
  • 39 below market units;
  • 4,600 SF of retail space;
  • a total density of 6.80 FSR; and
  • a building height of 224 ft. with additional height for rooftop amenity space.

The application is being considered under the Broadway Plan.

The architect for the project is GBL Architects.

June 8, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Latest Broadway Plan Application Envisions 21-Storey Rental Tower at Burrard & 12th

Greystar has submitted their rezoning application for the 30,400 SF site that they own at 1770 West 12th Avenue, at the Southeast corner of Burrard and 12th.

The site, currently improved with a lowrise strata complex, was acquired by Greystar in 2023 for $41,000,000.

Located in the “South Fairview – Area B (FSOB)” subarea of the Broadway Plan, the site has potential for market and below-market rental housing, up to 20-storeys and 6.5 FSR.

The proposal includes:

  • 243 rental units;
  • 20% below-market rental units;
  • 3,800 SF of retail space;
  • a total density of 6.50 FSR;
  • A building height of 219 ft.

The architect for the project is DIALOG.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1770-w-12-ave

June 6, 2024by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Onni Presents Master Plan Concept for 7.2 Acre Coquitlam College Site

Onni is presenting their master plan development application for the Coquitlam College site.

The 7.2 acre site is located on Brookmere Avenue at Whiting Way in the Burquitlam area and is currently improved with the Coquitlam College school and several adjacent single family residences.

Onni submitted their initial application in late 2023, but the full master plan proposal is now at council for early stage review.

Details of the overall plan include:

  • Seven towers ranging from 28-50 storeys;
  • Approx. 2,500 residential units;
  • 1,813 condo units;
  • 595 market rental units;
  • 92 below market rental units;
  • 56,000 SF of office space;
  • 7,200 SF of retail space;
  • a total density of 6.71 FAR (2.1 Million SF)

Onni acquired the site in 2021 for $148,100,000, or $71 per gross SF based on the application.

The architect for the project is Boniface Oleksiuk Politano Architects.

May 24, 2024by david.taylor@colliers.com
Apartment, Rental

20-Storey Rental Tower Proposed for Mount Pleasant Site

Fabric Living has submitted their rezoning application for 461-479 East 16th Avenue in the Mount Pleasant area of East Vancouver. The 16,111 SF site is an assembly of four parcels totaling 132 feet of frontage.

The site is located in the Broadway Plan, within the Mount Pleasant South Apartment Areas – Area B subarea.

The proposal for the site is to allow for the development of a 20-storey mixed-use building that includes:

  • 171 rental units;
  • 34 units (20%) at below-market;
  • commercial space on the ground floor;
  • a total density of 6.80 FSR;
  • A building height of 238 ft.

The application is being considered under the Broadway Plan.

The architect for the project is Francl Architecture.

May 9, 2024by david.taylor@colliers.com
Apartment, Development, Rental

22-Storey Rental Tower Proposed for West End Site

Townline Homes has submitted a rezoning application for a site at the northeast corner of Davie Street and Cardero Street in the West End of Vancouver. The proposal for the 17,290 SF site contemplates the replacement of a 4-storey, 33-unit condo building with a 22-storey rental tower.

A previous DP application for this site was originally submitted by Townline in 2022, proposing a tower with 96 condo units and 32 social housing units. The existing RM-5D zoning allows 7.0 FSR with 5,500 SF floorplates.

Details of the proposal include:

  • 198 market rental units;
  • 20% below-market rental units (approximately 37 units);
  • a total density of 8.0 FSR;
  • 6,600 SF floorplates;
  • A building height of 226 ft. with additional height for mechanical appurtenances.

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

The architect for the project is Boniface Oleksiuk Politano Architects.

The site was acquired in 2018 for $45,250,000 or $326 per buildable SF based on the application.

April 29, 2024by 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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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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