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, Investment

FOR SALE: 16-Unit Kitsilano Apartment Building

1609 Cypress_Front1609 Cypress Brochure

February 10, 2015by david.taylor@colliers.com
Apartment, Development

Westbank Takes Over West End Rental Tower Project

Westbank Corp. has taken over a proposed rental tower site in the West End. The site, located at 1754-1772 Pendrell Street, was originally proposed for a rezoning back in 2010 for a market condo project by DTKH with some rental units. The newly revised application by Westbank includes:

  • A 21 storey tower, with a maximum height of 190 ft
  • 171 rental units, including 43 studios, 51 One-Bedroom, 72 Two-Bedroom, and 3 Three-Bedroom units
  • A density of 6.55 FSR

1754 Pendrell_21754 Pendrell

Westbank has recently recieved occupancy on their other new West End rental tower, The Lauren, also designed by Henriquez.

February 4, 2015by david.taylor@colliers.com
Apartment, Development

Apartment Building Planned for Victoria Drive

An application has been filed for a 90 x 132 ft., C-2 zoned property at 540 Victoria Drive in the Grandview Woodlands area of East Vancouver. The proposed plan includes:

  • a new 4-storey building
  • 2 CRU’s on the main floor (one for a new Bosa Foods store)
  • 27 rental apartment units on the 2nd to 4th floors
  • A density of 2.38 FSR (1.75 residential)
  • 1 level of underground parking

Cornerstone Architecture explains the rationale for the project:

“This development provides a mixed-use residential and commercial building that will stand as a legacy project for the Bosa Foods company, which has been a long term part of the community. The development is to provide a mixture of  1, 2 and 3 bedroom rental suites across the upper 3 storeys.”

540 Victoria 540 Victoria_3540 Victoria_2

January 30, 2015by david.taylor@colliers.com
Apartment, Development

New Apartment Building Proposed in Grandview-Woodlands

A development application has been made for an RM-4 zoned site at the corner of Victoria Drive and Frances Street in the Grandview-Woodlands area. This site are was not identified for increased density in the any version of the Grandview Woodlands Community Plan. The project calls for the following:

  • one three-storey and one four-storey multiple dwelling building containing a total of 15 apartment units
  • a total density of 1.43 FSR or 17,006 SF (RM-4 allows 1.45 FSR)
  • a total of 17 underground parking spaces

Further, the City is requesting that the site dedicate about 7’ of land along Victoria Drive for possible future reconfiguration of the street to provide dedicated bike lanes. It is noted that further assembly was not feasible.

639 VictoriaMore info can be found here: http://former.vancouver.ca/devapps/pc649victoria/index.htm

January 30, 2015by david.taylor@colliers.com
Apartment, Development

North Van Rezoning Seeks Apartment Densification

A rezoning application in North Vancouver provides a glimpse of what’s to come in the City North Vancouver’s apartment zones and offers some ideas for other municipalities struggling with issues surrounding housing affordability and densification in existing older apartment areas.

The application for 1549 St. George’s Avenue is seeking renovation and expansion of the existing two-storey walkup apartment building built in 1957. The property is located in the Central Lonsdale area and is zoned RM-1 with an OCP designation of Residential Level-5 (allows 1.6 FAR). The proposal includes:

  • Full renovation of existing two floors
  • Addition of new third and fourth floors
  • Increase from 13 units to 29 units
  • Total density of 2.06 FSR
  • 0.46 FSR bonus in exchange for rental (under 2015 OCP guidelines)
  • Tenant relocation plan including first opportunity to move to nearby building of same owner
  • Reduction in parking requirement by the equivalent of 9 stalls

1549 St. George's

More info: http://www.cnv.org/attach/2015%2001%2026%20item%2010.pdf

January 28, 2015by 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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