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, Development

Proposal Would Switch Cambie Condo Project to Rental

A second rezoning application has been submitted for a small corner site at Cambie and West 32nd in Vancouver that had been previously approved for a 15-unit condo project in 2017. The rezoning was never enacted and the project never went into pre-sales.

The new proposal seeks to switch the project from condo to rental, keeping the same 6-storey building form and density.

The rental proposal includes:

  • 34 market rental units (from 15 condos);
  • a density of 2.46 FSR (unchanged);
  • Building height of 71 ft.;
  • 29 vehicle parking spaces and 64 bicycle parking spaces.

There is no change in the density, height, or form of development from the prior approved application. This new application will be subject to all current policies, guidelines, bulletins, and development permit requirements. A virtual Q&A will not be held for this application, however questions can be emailed to staff at any time.

The application is being considered under the Cambie Corridor Plan.

June 18, 2020by david.taylor@colliers.com
Apartment, Development, Office

4-Storey, 2.5 FSR Building Proposed for 33-ft Lot in Mount Pleasant

A development application has been submitted for a standard 33′ x 122′ lot on East 17th Avenue just East of Main Street. The site at 222 East 17th Ave is one of only a handful along the Main Street corridor with C-2 zoning despite being located off of Main Street and across an alley on a side street.

The lot is currently improved with an older single family dwelling.

Details for the redevelopment of the lot include:

  • a new 4-storey mixed-use building;
  • general office use on the main floor floor);
  • 5 residential units on floors 2-4;
  • a density of 2.50 FSR;
  • a proposed height of 45.28 ft.;
  • a total of 5 parking spaces having vehicular access from lane.

The application describes the design rationale and some of the challenges with the lot size: “For levels 2 and 3, the two dwelling units are separated by the circulation area (e.g. elevator, corridor, stairwell) that eats up most of the mid-section of the floor plan. This leaves us with a narrow strip of space that is particularly difficult to design without sacrificing over-all function and livability of each unit. By extending the maximum allowed limit of 50% Site depth (Section 4.5 of C2 Guidelines) to 60% we can better manage the use of space and make a more suitable design that is both livable and efficient. We are asking for a relaxation on the L2-L4 East side yard depth from 50% max. allowed to 60%.”

The architect for the project is Matthew Cheng Architect Inc.

The full application can be viewed here: https://development.vancouver.ca/pc222e17/index.htm

May 28, 2020by david.taylor@colliers.com
Apartment, Condo, Development

27-Storey Tower Pitched for Burquitlam Site

A rezoning and development permit application have been submitted by Ikor Group to the City of Burquitlam to develop a 0.7 acre Burquitlam Funeral Home site at 625 North Road in Burquitlam.

The site is designated as High Density Apartment Residential in the Burquitlam-Lougheed Neighbourhood Plan.

The site sits directly South of a large scale redevelopment plan by Amacon at 633 North Road.

The proposal is for a new 27-storey residential tower that includes:

  • 195 total units
  • 151 condos
  • 33 market rental units;
  • 11 below market rental units;
  • 239 underground parking spaces;
  • a total density of 5.50 FAR.
  • a building height of 289 ft.

The architect for the project is IBI Group.

The site was sold by Morgan Iannone and Casey Weeks of Colliers in 2017 for $15,500,000 or $97 per buidable SF.

May 22, 2020by david.taylor@colliers.com
Apartment, Condo, Development, Retail

2,800 Unit Master Plan Project Envisioned for Coronation Park

Wesgroup has submitted a pre-application for an OCP amendment and rezoning for a 15-acre, 59 single family lot land assembly in the Coronation Park neighbourhood on the Eastern edge of Port Moody.

In 2017, the City of Port Moody amended their OCP to include the Coronation Park Neighbourhood, thereby allowing a significant amount of potential new density. A number of assembly efforts emerged in the following couple of years, with Wesgroup emerging now having 48 of the 59 lots under contract.

Six properties to the north of Guilford Drive, including the large townhouse site (Balmoral Place) and the Esso gas station are not included in the assembly.

Wesgroup’s preliminary proposal for the 645,301 SF site includes:

  • Six highrise towers (32-36 storeys), five lowrises
  • Approximately 2,800 residential units;
  • 450 market rental units and 50 affordable units;
  • 12,000 SF of retail;
  • a total density of 4.40 FAR;
  • one acre of park space;
  • a road network based largely on existing site grades.

In it’s application cover, Wesgroup notes that they have until June 2022 to enact a rezoning as part of their agreements with owners. They also note contingency plans to deal with remaining holdout owners.

The next step for the project will be to move to a formal OCP Amendment and Rezoning Application later this year.

The architect for the project is Ciccozzi Architecture.

May 22, 2020by david.taylor@colliers.com
Apartment, Development

281-Unit North Van Rental Proposal Moving Forward

Cressey has submitted their formal rezoning application for the 81,450 SF site that they own at 250 East 15th Street in North Vancouver, just North of Lions Gate Hospital.

The site is currently improved with two older lowrise apartment buildings totaling 101 units.

Cressey has owned the buildings for several decades, and began community consultation for the project in early 2019.

The site contains two designations – one designation each for the south and
north portions of the site -within the Official Community Plan: Residential Level 5 (R5) to the north and Residential Level 6 (R6) to the south.

The formal rezoning application consists of three rental residential buildings -two 12-storey buildings adjacent to East 15th Street and one 6-storey building adjacent to East 16th Street, and the provision of a public park on the site’s north-eastern quadrant.

Details include:

  • 281 market rental units, including 28 mid-market units;
  • 34 studios, 148 one-bedrooms, 44 two-bedrooms & 57 three-bedrooms;
  • a max building height of 121 ft.;
  • a total density of 2.95 FSR;
  • a 24,600 square foot park;
  • 266 parking spaces in two underground levels.

The application describes the design rationale: “The principle design element of the project, aside from the provision of the public park, is the span between the two 12-storey buildings along 15th Street. The proposed span will host the majority of the shared amenity spaces for the complex, including a games room, a reception area, a large lounge, washrooms, and a bookable event space that could be used for hosting a party or a cooking class for the building. The spaces will be available to the tenants of all three buildings and the applicant has stated the importance of forming a community for tenants that will provide renters with a greater social experience than a traditional rental building. Significant glazing of these amenity spaces will support the activation and attractiveness of the streetscape on East 15th Street and will provide passive surveillance of the bus stop located directly in front of the proposed project. Other street frontages are activated through the inclusion of at-grade entrances to units, or where the grade does not support entrances, balconies and landscaping are utilized to ensure an attractive and activated interface between the public and private realms. A rooftop amenity space – only accessible to residents – is included on the 6-storey building and the connecting span that includes: community garden plots, planters for additional vegetation, a lounge area and outdoor dining/cooking area, as well as a greenhouse structure with a washroom. The easternmost 12-storey building includes a rooftop component only accessible to the tenants of the top units.”

The architect for the project is Bingham Hill Architects.

May 22, 2020by david.taylor@colliers.com
Page 46 of 110« First...102030«45464748»506070...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