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

138 Rental Units Planned for Mount Pleasant/Broadway Plan Site

Fastmark has submitted a rezoning application for a 17,378 SF mid-block site at 469-491 East 10th Avenue in the Mount Pleasant area of East Vancouver, between Guelph Street and St. George Street.

The site is an assembly of three single family lots that has been designated for higher density in the MRTB subarea of the Broadway Plan.

The proposed project is a 17-storey rental tower that includes:

  • 138 rental units;
  • 20% below-market rental units;
  • a total density of 5.50 FSR;
  • tower floorplates averaging 6,500 SF;
  • A building height of 184.4 ft.
  • 32 underground parking stalls.

This application is being considered under the Broadway Plan.

The architect for the project is GBL Architects.

June 28, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Rental Tower Planned for Mount Pleasant Site

The latest Broadway Plan rezoning application is a site on East 16th in Mount Pleasant, between Quebec and Ontario Streets. The site is one of many tower sites in the Broadway Plan owned by Five Mile Holdings.

The 132′ x 122′ (16,154 SF) site is located mid-block and is designated in the Broadway Plan under the Mount Pleasant South Apartment Area – Area ‘B’ [MSAB] subarea.

The proposal is to allow for the development of a 17-storey rental tower and includes:

  • 145 rental units;
  • 20% below-market rental units;
  • 4,900 SF of retail space on the ground floor;
  • a total density of 6.80 FSR; and
  • A building height of 184 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/45-e-16-ave

June 13, 2024by david.taylor@colliers.com
Apartment, Development, Rental

17-Rental Tower Proposed for Broadway Plan Site

A rezoning application has been submitted under the Broadway Plan for a 12,498 SF (100′ x 125′) site at 1171 West 12th Avenue, between Spruce Street and Alder Street in the Fairview neighbourhood.

The proposal is for a 17-storey rental tower that includes:

  • 111 rental units;
  • 20% below market units;
  • 55 studio units, 6 one-bedrooms, 39 two-bedrooms & 11 three-bedrooms;
  • a total density of 6.50 FSR;
  • A building height of 186 ft.
  • 58 underground parking stalls.

This application is being considered under the Broadway Plan.

The architect for the project is Stuart Howard.

June 13, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

Two Tower, 446-Unit Rental Project Slated for City Centre Motel Site on Main

Nicola Wealth Real Estate has submitted their rezoning application for the former City Centre Motel site at 2111 Main Street, on the West side of Main between East 5th and East 6th Avenues in Mount Pleasant.

Nicola acquired the 35,000 SF site in late 2020 and it has operated at an artists lodge since. The original motel, which occupies a full city block, was built in the early 1960s.

The site is located in Mount Pleasant Centre (MCE) subarea of the Broadway Plan.

The proposal is for two rental towers at 24-storeys and 22-storeys, and includes:

  • 446 rental units;
  • 22% studios, 38% one-bedrooms, 31% two-bedrooms & 10% three-bedrooms;
  • 20% of units below market;
  • 5,000 SF of arts & cultural space;
  • 14,710 SF of retail;
  • a total density of 9.93 FSR;
  • 197 below-grade parking stalls;
  • 1065 class A bicycle stalls;
  • 40% family housing (2 to 3-bedroom units)
  • A building height of 231 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Musson Cattell Mackey Partnership.

The full application can be viewed here: https://www.shapeyourcity.ca/2111-main-st

June 10, 2024by david.taylor@colliers.com
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
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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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