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, Retail

6-Storey Rental Building Proposed for 30 ft. East Vancouver Lot

A rezoning application has been submitted for a 30 ft. lot at the Northeast corner of Slocan and East 27th Avenue in East Vancouver.

The 3,372 SF site at 4310 Slocan Street is currently a martial
arts center owned by the applicant. The lot sits directly adjacent a 4-storey, 41-unit rental building called The Beacon, that was completed in 2017.

The proposal is to allow for the development of a 5-storey (plus amenity level) rental project that includes:

  • 8 secured market rental units;
  • 2 studios, 2 on-bedrooms, 3 two-bedrooms & 1 three-bedroom;
  • 1,600 SF of retail space at grade;
  • A total density of 2.83 FSR;
  • A building height of 62.3 ft.;
  • 3 surface parking lots at the lane.

The application is being considered under the Secured Market (Rental 100) Housing Policy.

The architect for the project is Matthew Cheng.

December 16, 2020by david.taylor@colliers.com
Apartment, Investment

89-Unit Rental Project Proposed for East Vancouver Site

Nexst Properties on behalf of Champion Development Group has submitted a rezoning application for a site at the southwest corner of Lakewood Drive and Dundas Street, totaling 24,142 SF. The site is located within the Grandview Woodland Community Plan area.

57 Lakewood Drive is zoned C-2 and is currently improved with an older 3-storey commercial/industrial building. The proposal is to allow for the development a 6-storey rental building includes:

  • 89 market rental units;
  • 35 studios, 22 one-bedrooms, 23 two-bedrooms & 9 three-bedrooms;
  • 10,000 SF of retail space at grade;
  • A total density of 3.0 FSR;
  • A building height of 77 ft.;
  • 88 vehicle parking spaces and 192 bicycle parking spaces.

The application is being considered under the Grandview-Woodland Community Plan.

The architect for the project DYS Architecture.

December 7, 2020by david.taylor@colliers.com
Apartment, Development, Retail

32-Unit Market Rental Building Planned for East Van Site

A rezoning application has been submitted for a site at 2735 E 41st Avenue in East Vancouver. The 14,382 SF C-1 zoned site is currently occupied by an older lowrise commercial building occupied by G&F Financial Group.

The proposal is to allow for the development of a 5-storey mixed use rental building under the Rental 100 policy. The proposal includes:

  • 32 market rental units;
  • 2 studios, 10 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
  • 6,129 SF of retail space in 5 CRUs at grade;
  • A total density of 2.48 FSR;
  • A building height of 49 ft.;
  • 25 vehicle parking spaces and 80 bicycle parking spaces.

The application is being considered under the Secured Market Rental (Rental 100) Policy.

The architect for the project is Barnett Dembek Architects Inc.

December 5, 2020by david.taylor@colliers.com
Apartment, Development

Upper Lonsdale Rental Site Sells for $9.5 Million

Adera has completed the acquisition of a rental development site at 2762 Lonsdale Avenue, in the Upper Lonsdale area of North Vancouver. The purchase price is $9,450,000.

The site is 17,353 sq ft. in size and improved with an older 3-storey walkup apartment building. There is now a development application on the site to allow a 6-storey market, 60-unit market rental development.

November 20, 2020by david.taylor@colliers.com
Apartment, Development

Revised Proposal for East Van Site Seeks Lower Density, 100% Rental

Intracorp has submitted a new rezoning application for a 29,100 SF site they own at 1837-1849 E 11th Ave and 2631 Victoria Drive, this time with a lower woodframe building and 100% rental use.

A previously rezoning application for the site was approved in 2018 for a 11-storey, 138-unit mixed 50/50 condo/rental building on the site at a density of 3.59 FSR. Due to “market forces”, that application has now been rescinded and replaced with the new more efficient and likely more cost effective project.

The new proposal calls for a 6-storey market rental building and a 4-storey revitalized heritage house.

This proposal includes:

  • 136 market rental units;
  • 81 studios, 6 one-bedrooms, 47 two-bedrooms & 3 three-bedrooms;
  • A total density of 2.89 FSR;
  • A building height of 65.0 ft.;
  • 43 vehicle parking spaces and 270 bicycle parking spaces.

The application is being considered under the Grandview Woodland Community Plan.

The architect for the project is Metric Architecture.

November 17, 2020by 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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