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

10-Storey Building Planned for Broadway near Commercial

A second major rezoning application has been submitted in Grandview-Woodland, just weeks after 149 units were announced earlier this month at Victoria & 11th.

Jameson Development Corp. has submitted an application to rezone a 15,738 SF site on the North side of Broadway just West of commercial at 1619-1651 East Broadway. The rezoning will be from the existing RM-4N zone to CD-1 to permit the development of a 10-storey mixed-use building.

The proposal includes:

    • 93 total units (47 market rental units and 46 market strata units);
    • 5,245 SF of ground floor retail space;
    • A total density of 4.00 FSR;
    • A height of approximately 32.3 m (105.8 ft.);
    • 75 underground parking spaces; and
    • 117 bicycle parking spaces.

1619 East Broadway_3 1619 East Broadway_2 1619 East Broadway_1 1619 East BroadwayThis application is being considered under the Grandview-Woodland Community Plan. The rezoning policy allows for ‘mixed-tenure’ whereby 50% strata is allowed if the other 50% of the units are secured rental.

The architect for the project is IBI Group.

June 30, 2017by david.taylor@colliers.com
Apartment, Development

Kerrisdale Development Site Sells in $26,000,000 Deal

Two buildings on East Boulevard have sold to Kenstone Properties for $26,000,000. The two lots, located at 6020 & 6040 East Boulevard, are currently improved with two older 2-storey walkup apartment buildings, and combine to form a total site area of 18,850 SF. The lots are zoned C-2 which allows for a development up to 4-storeys, or approximately 47,125 SF of buildable area.

6020 East BlvdThe purchase price equates to $552 per buildable SF.

The property had been listed for sale for $26,800,000.

June 23, 2017by david.taylor@colliers.com
Apartment, Development, Retail

55-Unit Rental Building Planned for Rupert Street Site

A rezoning application has been submitted for a new rental apartment building for a site at the Southwest corner of Rupert Street and East 22nd Avenue; just down and across the street from a Rental 100 project, currently in final stages of rezoning approval. The site is currently improved with an older single-storey retail building.

The plan for the site at 3281-3295 East 22nd Avenue is to rezone from the existing C-1 commercial zoning to CD zoning to allow a 6-storey mixed-use project.

The application includes the following:

    • 55 market rental units;
    • 14 studios, 16 one-bedrooms, 18 two-bedrooms & 7 three-bedrooms;
    • 6,888 SF of ground floor retail space;
    • A total density of 3.03 FSR;
    • A building height of 72 ft.; and
    • 43 underground parking spaces.

3281 E 22nd3281 E 22nd_23281 E 22nd_3The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Cornerstone Architecture.

June 12, 2017by david.taylor@colliers.com
Apartment, Development

First Major Rezoning Proposed Under Grandview-Woodland Plan

The City of Vancouver has received the first major rezoning application for a site in the Grandview-Woodland Community Plan.

The proposal is for a 29,112 SF site owned by Intracorp at the corner of East 11th Avenue and Victoria Drive, currently occupied by older lowrise residential buildings, including a heritage house. The plan calls for rezoning from RM-4 to permit the development of a 10-storey residential building with a 6-storey residential podium.

The proposal includes:

    • 149 units (76 rental & 73 strata);
    • A total density of 3.58 FSR;
    • Relocation and designation of a Vancouver Heritage Register Category “B” heritage house (on-site);
    • A height of approximately 103.4 ft.; and
    • 108 underground parking spaces.

1837 E 11_2 1837 E 111837 E 11_1This application is being considered under the Grandview-Woodland Community Plan which dictates that 50% of the gross floor area can be condos if 50% of the gross floor area is rental housing.

The architect for the project is Perkins + Will.

June 7, 2017by david.taylor@colliers.com
Apartment, Investment

FOR SALE: 12-Unit Strata-Titled Apartment Conversion Opportunity

We are pleased to introduce this 12-unit strata-titled building in a highly desirable area of Kits. The building has excellent potential to be converted to an income-producing rental apartment building.

3495 West 4thBRO 3495 W 4th Ave

Please contact us for further details.

June 1, 2017by 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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