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

Onni Submits Application for Three Tower Coquitlam Centre Project

Onni has submitted their rezoning and development permit application a large scale mixed-use development on a primarily vacant site at the Southeast corner Pinetree Way and Glen Drive in Coquitlam City Centre. The 2.7 acre site is vacant and was partially previously owned by the City of Coquitlam. The site sits just 500 feet from Lincoln Skytrain Station.

Directly to the East is another application for a 40-storey tower by Polygon at 1108 Westwood Street. The two sites were acquired via public sale of the lands in 2016.

The site can be rezoned per the City Centre Area Plan from City Centre
Commercial (C-4) and One-Family Residential (RS-l) to CD-11 Comprehensive
Development (CD-ll), based on the C-4 Zone, and the overall development plan includes three residential towers over retail and office space. Details include:

  • Towers of 49, 45 and 25-storeys above a podium;
  • 891 residential units
    • 705 condos;
      • 321 one-bedrooms, 289 two-bedrooms & 95 three-bedrooms;
    • 186 market rental units;
      • 40 studios, 66 one-bedrooms, 49 two-bedrooms & 31 three-bedrooms;
  • 17,000 SF of retail space;
  • 46,520 SF of office space on floors 2-5 of the podium;
  • a total density of 7.32 FAR;
  • total tower heights of 514 ft, 472 ft and 258 ft. respectively;
  • 67,000 SF of common amenity space;
  • An 8,500 SF daycare;
  • 1,329 parking spaces;
  • $31 Million in density bonus funds and CACs.

The architect for the project is Cicozzi Architecture.

February 1, 2019by david.taylor@colliers.com
Apartment, Development, Retail

Latest Rezoning Proposal Under Moderate Income Rental Policy is for 6-Storey Building On Grandview

A rezoning application has been submitted for a site at 2810 and 2830 Grandview Highway; a 16,104 SF lot currently improved with an older 2-storey officed building on the South side of Grandview between Kaslo Street and Renfrew Street.

The plan calls to rezone from C-1 to allow for a new 6-storey rental apartment building under the Moderate Income Rental Housing Pilot Program, which requires that 20% of the units are assigned to moderate income households.

The proposal includes:

  • 57 rental units;
    • 14 studios, 23 one-bedrooms & 20 two and three-bedrooms;
  • 6,990 SF of retail space at grade;
  • a total density of 3.12 FSR;
  • a building height of 69 ft.; 
  • 41 underground parking spaces (including one car share);
  • 111 bicycle spaces.

The architect for the project is MCMP Architects.

January 10, 2019by david.taylor@colliers.com
Apartment, Investment

FOR SALE: 11-Unit South Granville Apartment Building

We are pleased to introduce for sale Shavian Apartments, an 11-unit rental apartment property located on West 10th Avenue, just East of Granville Street and just steps to the future Granville Street Skytrain stop.

Please see the brochure for further details. 

 

November 19, 2018by david.taylor@colliers.com
Apartment, Condo

29-Storey Tower Proposed for Burquitlam Site

Ledingham McAllister has submitted a rezoning and development permit application for 520 Cottonwood Avenue, at the corner of Cottonwood and Whiting Way. The 39,000 SF site is located in the rapidly developing Burquitlam area of Coquitlam. The site is currently improved with an older lowrise strata building which has sold. T

The application proposes to rezone the subject site from RM-2 Three Storey Medium Density Apartment Residential Zone to Comprehensive Development (CD-10), based on the Multi-Storey High Density Apartment Residential Zone (RM-6) per the Burquitlam Lougheed Neigbourhood Plan.

Details of the proposal, entitled “Precidia” include:

  • 176 market condo units;
    • 60 one-bedrooms, 98 two-bedrooms and 18 three-bedrooms;
  • 65 market rental units;
    • 5 studios, 32 one-bedrooms, 17 two-bedrooms & 11 three bedrooms;
  • 10 non-market rental units;
    • 2 studios, 5 one-bedrooms and 3 two-bedrooms;
  • 13,000 SF of amenity space;
  • a total density of 5.50 FAR;
  • a total building height of 305 ft;
  • 310 parking spaces.

 

 

The architect for the project is IBI Group.

Ledingham acquired the site in June 2018 for $22,500,000, or $105 per gross buildable SF.

November 16, 2018by david.taylor@colliers.com
Apartment, Development, Retail

Market Rental Building Planned for Fraser & 22nd

Strand Development has submitted a rezoning application for an assembly of five single family lots totaling 32,198 SF on Fraser Street between East 22nd and East 23rd Avenues in East Vancouver.

The site at 686 East 22nd Avenue, 3811-3833 Fraser Street & 679 East 23rd Avenue is currently zoned RT-2. The rezoning proposal consists of a 6-storey mixed-use building and includes:

  • 121 market rental units;
  • 10 studios, 60 one-bedrooms, 35 two-bedrooms & 16 three/four-bedrooms;
  • 10,818 SF of retail space at grade;
  • a density of 3.28 FSR;
  • a building height of 71 ft.;
  • two levels of underground parking with 108 parking spaces; and
  • 159 bicycle spaces.

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Integra Architecture.

August 1, 2018by david.taylor@colliers.com
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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.

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