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

Construction Update: 245 East Georgia

Here is a construction update on an interesting infill project in Chinatown that was approved under the Rental 100 program in 2013. 245 East Georgia St. is a 9-storey apartment being built on a 25-foot lot. As described on Gair Williamson Architect’s website:

“The design is for 40 studio apartments ranging in size from 320 to 360 square feet and a commercial unit at the ground level. All units have floor to ceiling glazing with either juliet windows or a balcony, there is also a communal roof deck providing opportunities for urban agriculture.”

There will also be retail on the ground floor.

68XTFEPhoto courtesy mcminsen http://po.st/GUBcQ6 via @imageshack

AJPvwVPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

G4lGGSPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

static1.squarespace.comhttp://www.gwarchitects.ca/245-east-georgia-street/q9o9orelcnkzsotggn08ksgz4aniul

The site was sold by Colliers in 2012 for $1,150,000.

March 8, 2016by david.taylor@colliers.com
Apartment, Development

Rental Building Planned for Mt. Pleasant

A development application has been filed for a 49.5′ x 122′ RM-4 zoned site at 944 East 8th Avenue, between St. Catherines and Windsor Streets near Vancouver Community College. Details of the proposal include:

  • 4-storey woodframe apartment
  • 15 market rental apartment units
  • a total density of 1.45 FSR (8,749.3 SF)
  • elevator
  • a building height of 39.9 ft
  • 2 car-share parking spaces

The existing property is a 3-storey walkup apartment with 6 units that sold to the current owner for $1,250,000.

The developer is seeking relaxations on height and parking in order to build rental units.

944 East 8th Ave_1944 East 8th Ave

 

March 2, 2016by david.taylor@colliers.com
Apartment, Development, Retail

4-storey Rental Building Planned for Victoria-Fraserview Area

A development application has been submitted to redevelop a single-storey retail building on four lots on Victoria Drive near East 54th Avenue. The plan for the C-2 zoned site at 7151 Victoria drive is for a 4-storey woodframe mixed use building that includes:

  • 25 rental apartment units
  • four retail CRU units (5,082 SF)
  • total density of 2.50 FSR (25,674 SF)
  • 35 parking spaces on two levels of underground parking

7151 Victoria_27151 VictoriaThe architect for the project is GBL Architects.

February 16, 2016by david.taylor@colliers.com
Apartment, Development

Rental Apartments Planned for East Vancouver Site

Decorus Developments has filed a rezoning application for a C-1 zoned strip retail property at the corner of Broadway and Renfrew in East Vancouver. The plan for the site at 2894 East Broadway calls for rezoning from the existing C-1 to allow a new rental apartment buildings that includes:

    • A new 4-storey building
    • Commercial use at ground level;
    • Total of 37 secured market rental units on the 3 upper storeys;
    • A height of 46.4 ft.;
    • A density of 2.65 FSR.

This application is being considered under the Secured Market Rental Housing (Rental 100) Program.

2894 East Broadway_12894 East Broadway 2894 East Broadway_2

February 16, 2016by david.taylor@colliers.com
Apartment, Development

50-Unit Apartment Building Planned for Cambie & King Edward Corner

A rezoning application has been filed for an 11,066 SF site at the Southwest corner of Cambie and King Edward; a site that had been orphaned from the adjacent development by Dava Development, “Parc 26” now under construction and nearly sold out. The proposed plan for 512 West King Edward Avenue is for a 6-storey residential building that includes:

  • 50 secured market rental units;
  • a building height of 67.75 ft
  • a density of 3.0 FSR;
  • 37 vehicle parking spaces and 71 bicycle spaces.

The application is being considered under the Cambie Corridor Plan and the Secured Market Rental Housing Policy.

512 West King Edward 512 West King Edward_1 512 West King Edward_2The architect for the project is Arno Matis Architecture.

February 10, 2016by david.taylor@colliers.com
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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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