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

Broadway Plan Application at West 1st & Arbutus Envisions 176 Rental Units

The latest Broadway Plan tower application is for a land assembly at the Southeast corner of West 1st and Arbutus in the Kits neighbourhood.

The site is 18,000 SF (150′ x 120′) and is owned by TKT Holdings Ltd.

The proposal is to allow for the development of a 20-storey rental building and includes:

  • 176 units with 20% of the floor area for below-market units;
  • 2,000 SF of retail space;
  • a total density of 6.80 FSR; and
  • A building height of 214 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

January 21, 2025by david.taylor@colliers.com
Apartment, Condo, Development, Land, Rental, Retail

Vision for Capilano Mall Redevelopment Includes 11 Towers, Up to 3,100 Units

QuadReal has unveiled preliminary concept plans for the redevelopment of Capilano Mall in North Vancouver. The plans are being unveiled for community input before a more detailed application in 2025, including a required OCP Amendment.

The 17-acre property has been the subject of preliminary planning on and off since 2019, but got underway again in 2023.

Overall concept details include:

  • 11 Towers, 12-40 storeys in height;
  • ~ 3,100 residential units;
  • 30% rental;
  • 10% mid-market rental;
  • 152,000 SF of retail/commercial space;
  • 1.5 acres of public/park space
  • a 20-30,000 SF community centre;
  • a total density of 4.0 FSR.
Timeline

Further info can be found on the project’s consultation website: https://www.reimaginecapilano.com/

November 29, 2024by david.taylor@colliers.com
Apartment, Rental, Retail

Robson Street Site to be Redeveloped for Two Rental Towers with 393 Units, Retail

GWL Realty Advisors Inc. has applied to the City of Vancouver for permission to redevelop the 264 ft. of frontage that they own in the 1500 Block of Robson Street at 1525-1555 Robson, at the corner of Cardero Street.

The site is an assembly of two separate site acquisitions, with the latter of the two at 1555 Robson acquired in April 2024 out of foreclosure, for $58 Million.

The plan for the combined site is two rental towers, 29-storeys and 28-storeys, with retail uses at grade. Details include:

  • 393 market rental units;
  • 40,000 SF of retail space on two levels (1.2 FSR);
  • a total density of 9.625 FSR;
  • four levels of underground parking with 251 parking stalls.

The application is “conditional” so it may be permitted. However, it requires the decision of the Development Permit Board.

The architect for the project is Arcadis.

November 14, 2024by david.taylor@colliers.com
Apartment, Development, Hotel

29-Storey Hotel Proposed for West End Site

Marcon has submitted a rezoning application for 2030-2038 Barclay Street in the West End. The site is currently a 4-storey extended stay hotel property called Rosellen Suites.

The site was previously approved for a 10-storey, 19-unit condo project under the existing RM-5B zoning.

The new proposal is to allow for the development of a 29-storey hotel and long-term stay building and includes:

  • 292 units;
    • 65 short term stay rooms & 227 serviced apartments;
  • 2,800 SF of restaurant space;
  • a total density of 14.7 FSR; and
  • A building height of 329 ft.

The architect for the project is Henriquez Partners.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2030-2038-barclay-st

November 4, 2024by david.taylor@colliers.com
Apartment, Development, Rental

115 Unit Rental Building Proposed for Commercial Drive Site

Fabric Living has submitted a rezoning application for a site at 3295-3333 Commercial Drive in East Vancouver for a new lowrise rental building.

The 33,158 SF site is located on Commercial Drive near East 18th Avenue.

The proposal is to allow for the development of a 5-storey residential rental building and includes:

  • 115 market rental units;
  • an outdoor pool;
  • a total density of 2.15 FSR; and
  • A building height of 67 ft.

This application is being considered under the Secured Rental Policy.

The full application can be viewed here: https://www.shapeyourcity.ca/3295-3333-commercial-dr

The architect for the project is TKA+D.

November 2, 2024by 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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