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

Bosa Submits Revised Rental Plan for West End Towers

Bosa Properties has submitted new rezoning applications for two tower sites they own in the West End that had previously been envisioned for condos & social housing in 2017. With a slowdown in the condo market in 2018-2019, the projects were put on hold.

The sites are located at the Northeast and Southeast corners of Harwood Street and Thurlow Street.

The former development proposals sought 191 condos and 59 social housing units spread between the two sites, or 75% market condos with 25% social housing; however, a City of Vancouver policy change in November 2020 allowed a switch to rental housing with below-market rental in place of social housing.

The proposal for the two site is two 34-storey residential towers and includes:

  • 575 rental units (with 462 market rental units and 113 below-market rental units)
  • A gross density of 13.1 FSR for both sites;
  • Building heights of 316 ft.;
  • Seven levels of underground parking with 151 vehicle parking spaces, 11 accessible spaces, 534 Class A bicycle parking spaces and 15 Class B bicycle parking spaces.

The application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor, Rezoning Policy for the West End,and the West End Community Plan.

The architect for the project is Henriquez Partners Architects.

April 14, 2021by david.taylor@colliers.com
Apartment, Development, Retail

18-Storey Rental Building Proposed for Oakridge Site

A rezoning application has been submitted for a site at 809 West 41st Avenue, at the Northwest corner of 41st and Willow, just East of the now approved redevelopment of the Oakridge Transit Centre site. The site is currently improved with the Oakmont Medical Building, built in 1965.

The proposal is to allow for the development of a 18-storey rental building with ground floor commercial retail space. The proposal includes:

  • 131 market rental units (20% of floor area as moderate income housing);
  • 70 one-bedrooms, 43 two-bedrooms & 18 three-bedrooms;
  • 6,200 SF of retail space on the ground floor;
  • A total density of 7.14 FSR;
  • A building height of 194 ft.with additional height for a rooftop amenity space
  • 85 vehicle parking spaces and 254 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Arno Matis Architecture.

The site was sold in 2017 for $30,750,000, or $256 per buildable SF.

March 24, 2021by david.taylor@colliers.com
Apartment, Development, Retail

56 Rental Units Slated for East Hastings Site

PCI Group have submitted a rezoning application for a 16,104 SF site at 3555-3561 East Hastings Street in East Vancouver. The site is immediately adjacent the Kootenay Bus Loop to the West, and a block West of Boundary Road.

There was previously a restaurant on the site. There is also a small one-storey commercial retail building on the east portion of the site.

The proposal is to allow for the development of a 6-storey mixed-use residential building. The proposal includes:

  • 56 secured market rental units;
  • 5 studios, 31 one-bedrooms, 17 two-bedrooms & 3 three-bedrooms;
  • 6,400 SF of ground floor retail/restaurant space;
  • A total density of 3.13 FSR;
  • A building height of 79 ft.;
  • 49 vehicle parking spaces and 110 bicycle parking spaces.

The application is being considered under the Secured Rental Policy.

The architect for the project is BHA Architecture.

The site had previously been listed for sale for $10,000,000.

March 17, 2021by david.taylor@colliers.com
Apartment, Development, Office, Retail

14-Storey Mixed Use Building Planned for Cambie & West 41st Corner

PCI Group has submitted a rezoning application for 495 West 41st Avenue at the Northeast corner of Cambie and West 41st Avenue.

PCI acquired the vacant former gas station site from Coromandel properties last year for $40 Million.

The proposal is to allow for the development of a 14-storey mixed-use building with a rooftop amenity space. The proposal includes:

  • 112 market rental units;
  • 60 one-bedrooms, 50 two-bedrooms & 2 three-bedroom units;
  • 12,625 SF of office space;
  • 7,065 SF TD Bank;
  • A total density of 6.59 FSR;
  • A building height of 150 ft.;
  • 64 vehicle parking spaces and 202 bicycle parking spaces

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Perkins & Will.

February 8, 2021by david.taylor@colliers.com
Apartment, Condo, Development

Wesgroup Envisions 241 Units for Balfour Block

Wesgroup has submitted their rezoning application for the ‘Balfour Block’, a unique 101,883 SF (2.3 acre) site located at West 18th Avenue and Laurel Street in the Cambie Village area, just East of Oak Street. The existing site contains 16 older duplex buildings that will be replaced.

The proposal calls for the development of a 6-storey rental building; a 6-storey condo building with a rooftop amenity and a childcare space on the ground floor and six 4-storey and two 3-storey stacked townhome buildings.

The proposal includes:

  • 241 total units;
  • 84 townhouses;
  • 57 condo units;
  • 100 secured rental units (with 25% at below-market rates);
  • A total density of 2.16 FSR;
  • Building heights of 37.5 ft. to 82.6 ft.;
  • 334 vehicle parking spaces and 630 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan and theRezoning Policy for Large Sustainable Developments.

Wesgroup acquired the site in 2015 for $46,200,000 or $210 per buildable SF based on the application.

The architect for the project is Formwerks.

February 8, 2021by david.taylor@colliers.com
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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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