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.
  • About
  • Listings & Sales
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
Apartment, Condo, Development, Office

902 Units, Two Towers Slated for Metrotown Site

Peterson Group has submitted their formal rezoning application to the City of Burnaby for 6645-6707 Dow Avenue in the Maywood Neighbourhood of Metrotown.

The 112,424 SF site is a five-lot assembly designated RM-5s and RM-4 under the Metrotown Downtown Plan which allow for high density residential development.

The subject properties are each improved with an older two to three storey rental apartment building which were constructed between the years of 1955 and 1964. In total, there are 112 existing rental units across the five sites proposed for redevelopment.

The proposed development for the site is for two condo towers (49 & 41-storeys), with a commercial podium, and a 6-storey non-market rental housing building.

Details include:

  • 902 total residential units;
  • 770 condos;
  • 132 rental units (median market, inclusionary & replacement);
  • 113,000 SF of office space (with option to convert to hotel);
  • a total density of 7.74 FAR (870,000 SF);
  • 1,241 underground parking stalls.

The architect for the project is BOP Architects.

June 9, 2023by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Up to 4,000 Units Envisioned for Columbia Square Site in New Westminster

A preliminary rezoning application has been submitted by Edgar Developments for the 7.2 acre Columbia Square Plaza Shopping Centre site in New Westminster.

The site at 88 Tenth Street is a large triangular shaped lot located in the Downtown neighbourhood bounded by Royal Avenue and Columbia and Tenth Streets. It is located about 100 meters from the New Westminster Skytrain Station.

The existing strip mall includes Save-On-Foods, BC Liquor Store, several banks and Pharmasave.

The site is designated Mixed Use High Density within the Downtown Community Plan and the general form of development is expected to be tower residential with a mix of retail, office and residential podiums interfacing with grade.

The proposal seeks to establish a master plan that would facilitate a multi-phased high density development that includes:

  • 6 to 8 residential towers;
  • replacement of existing retail;
  • minimum 120,000 SF of office space;
  • between 1.7-3.0 Million SF of residential space;
  • 2,200 to 4,000 units;
  • 10% inclusionary units;
  • community and public spaces.

The application is still preliminary and requires Council direction to authorize planning staff to work with the owners to refine the proposal before a formal rezoning application will be considered.

The site was acquired by Edgar in 2022 for $136,000,000.

June 9, 2023by david.taylor@colliers.com
Apartment, Development, Office, Retail

92-Unit Rental Project Planned for New Westminster Site

Third Space Properties has submitted a rezoning application to the City of New Westminster to rezone a 26,700 SF site on East Columbia Street in the Sapperton area of New Westminster.

The proposed development aims to revitalize the area by replacing an underutilized asphalt parking lot, a vacant building and four vacant lots with a thoughtfully designed building that improves the urban experience while providing housing diversity and job space.

The site is designated (ML) Mixed Use – Low Rise in the OCP. This land use designation envisions the provision of low-rise commercial or commercial and residential mixed use buildings which create active and engaging principal streets.

The overall plan for the project envisions a 6-storey building that includes:

  • 92 market rental units;
  • 18 studios, 51 one-bedrooms, 17 two-bedrooms & 6 three-bedrooms;
  • 18,000 SF of office space;
  • 14,400 SF of retail space;
  • a total density of 3.70 FSR;
  • 197 underground parking spaces.

The architect for the project is Integra Architecture.

June 8, 2023by david.taylor@colliers.com
Apartment, Development

77 Rental Units Proposed for Kerrisdale Site

Sightline Properties has submitted a development application to the City of Vancouver for a 2-lot land assembly at the Southwest corner of West 41st Avenue and Maple Street in Kerrisdale.

The 17,750 SF site was rezoned under the Secured Rental Policy to RR-3B in February. This designation allows 6-storey buildings with ground floor commercial uses.

The plan for the project includes:

  • 77 market rental units;
    • 20 studios, 30 one-bedrooms, 24 two-bedrooms & 3 three-bedrooms;
  • 6,280 SF of retail space;
  • A total density of 3.43 FSR;
  • A proposed height of 72 ft.;
  • Two levels of underground parking, providing a total of 44 parking spaces having vehicular access from the lane.

Under the site’s proposed RR-3B zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Yamamoto Architecture.

May 18, 2023by david.taylor@colliers.com
Apartment, Condo, Development

567-Unit Condo & Rental Project Slated for Burquitlam Site

Rize Alliance has submitted a rezoning application to the City of Coquitlam for a 1.78 acre site at the corner of Elmwood and Westley in the Oakdale area within the Burquitlam-Lougheed Neighbourhood Plan.

The site is an assembly of 11 single family lots that are designated High Density Apartment Residential in the OCP. It is located 500 metres from the Burquitlam Skytrain Station.

The plan for the site is to develop a 38-storey condo tower, a six-storey condo building, and two six-storey purpose-built rental buildings. Overall details include:

  • 567 total residential units;
  • 404 condos;
  • 141 market rental units;
  • 22 below-market rental units;
  • a total density of 5.50 FSR;
  • $12.1M in density bonus;
  • $2.1M in Payment in-Lieu for Parking Reductions;
  • $521, 000 in voluntary Community Amenity Contributions (CACs);
  • 543 parking spaces with 458 EV parking spaces; and
  • 30, 516 SF of common amenity space.

The architect for the project is GBL Architects.

May 12, 2023by david.taylor@colliers.com
Page 20 of 110« First...10«19202122»304050...Last »

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


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.

© 2019 Copyright  |  All Rights Reserved