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, Condo, Development, Office, Retail

FOR SALE: 14-Acre Mixed-use /Residential Development Site

We are pleased to present this 14-acre residential/mixed-use development site in Burnaby, located adjacent the Sperling-Burnaby Lake Station.

Please download our brochure for further information about the Property.

January 24, 2020by david.taylor@colliers.com
Apartment, Development, Retail

31-Units Planned for Kingsway in Latest Rental Rezoning

Tatla Developments has submitted a rezoning application for a mid-block site on Kingsway in the latest rental application for the area. The 9,076 SF site is located at 1247 Kingsway, in between Inverness Street and Clark Drive.

The zoning for the site is currently C-2, but the rezoning application proposes:

  • 31 market rental units;
    • 15 studio units, 12 two bedrooms & 4 three-bedrooms;
  • 3,800 SF of retail space;
  • a total density of 3.60 FSR;
  • a building height of 70 ft; and
  • 16 underground parking stalls and 100 bike spaces.

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

The architect for the project is Stuart Howard.

December 23, 2019by david.taylor@colliers.com
Apartment, Condo, Development, Retail

25-Storey Condo/Rental Tower Slated for Maillardville Site

A rezoning and development permit application has been submitted for a prominent corner site at Lougheed and Blue Mountain Street in the Maillardville neighbourhood of Coquitlam, just off Highway 1.

The site at 901 Lougheed is designated Neighbourhood Centre and is zoned C-2 General Commercial. There are currently two commercial buildings on the property. The site is located across Blue Mountain from an existing condo highrise project in pre-sales called Horizon Twenty-One by Centred Developments.

The application proposes to rezone the 28,580 SF site Highway from C-2 to allow a mixed-use development consisting of a 25-storey tower over top a 4-storey commercial and residential podium, Details include:

  • 122 condo units;
  • 51 market rental units;
  • 6 below market rental units;
  • a total density of 5.0 FAR;
  • 9,524 SF of retail space;
  • 276 parking spaces within an underground parkade.

The architect for the project is Wilson Chang.

November 22, 2019by david.taylor@colliers.com
Apartment, Development

Oakridge Land Assembly Slated for Rental Tower

A rezoning application has been submitted to the City of Vancouver for a three lot land assembly at 441-475 West 42nd Avenue, just East of Cambie Street and Oakridge Centre.

The 18,791 SF site was designated for rezoning in the Cambie Corridor Plan Phase 3, which identified several sites near Oakridge for higher density. The designation allows for 80% market rental, with 20% below market.

The proposal consists of an 18-storey secured market rental residential building with a 4-storey podium over one level of underground parking and includes:

  • 124 rental units (including 29 below market rental units);
  • A rooftop indoor/outdoor amenity space and a children’s play space above the podium;
  • A building height of 202.5 ft;
  • A total density of 6.67 FSR ; and
  • 39 parking spaces and 4 car-share parking spaces; and
  • 291 bicycle parking spaces.

This application is being considered under the Cambie Corridor Plan.

The architect for the project is Urban Solutions Architecture.

October 28, 2019by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Iconic Landmark Project Proposed for Burnaby

An “iconic landmark project” has been put forward by Pinnacle International for a 6.2 acre site in the Lougheed Town Centre area of Burnaby. Based on the preliminary design details, including towers up to 82-storeys in height outlined in the preliminary rezoning application, the towers may become the tallest in B.C..

The site, located at 9858 Gatineau Place has an enviable location directly next to the Skytrain Station and just South of Shape Properties’ 72-acre ‘City of Lougheed‘ / Lougheed Mall site, with its first phase now under construction. A master plan was created for both sites in 2016; however, the Gatineau Place site was subsequently sold to Pinnacle in February 2018 for $220,000,000. The site is currently improved with surface parking lots and a residential sales centre.

Preliminary details for the proposed project include:

  • Three residential towers (82-storeys, 67-storeys & 62-storeys);
  • up to 1.9 Million SF of market residential (11.91 FAR);
  • 20% rental housing (2.16 FAR);
  • estimated 430,000 SF of office, retail & hotel uses;
  • relocation of Gatineau Place to align with the new north-south Grand Promenade road;
  • new covered transit plaza adjacent to the SkyTrain station and bus loop;
  • a new pedestrian bridge over Austin Road to connect the covered transit plaza and subject site with the Lougheed Mall site to the north.

The application describes the design rationale: “The ground level for each tower will be animated with retail uses that will activate the public realm and integrate with the transit plaza. The second level will include retail components in each building together with a hotel lobby in the “East Tower” and an office lobby in the “West Tower”. The tower podiums will share common thematic elements and will be interconnected with sky bridges allowing pedestrian movement between buildings and a connection to the Lougheed Mall Precinct.

The three towers will vary in height, with the largest (East Tower) reaching 82 levels comprised of retail, hotel and residential uses. The West Tower will feature retail, office and residential components within 67 levels, while the “South Tower” will be 62 levels in height and will include retail and residential uses. The design is inspired by nature with the three buildings metaphorically representing an ensemble of flowers expressed through appropriate massing and architectural articulation.”

No renderings have been released publicly yet, and there is no word yet on design architects.

October 28, 2019by 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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