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.
  • About
  • Listings & Sales
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
Development, Office, Retail

13-Storey Office Building Proposed for Robson and Seymour

A development application has been submitted for the Southwest corner of Robson and Seymour Streets in Downtown Vancouver. The site was sold in 2018 for $40 Million to Bonnis Properties. The existing building is an older single storey retail building.

The application for the site is for a new 13-storey, commercial building. The proposal consists of the following:

    • 61,700 SF of office space;
    • 4,300 SF of retail space;
    • amenity space including outdoor terrace, gyms and yoga area on the 6th floor;
    • a building height of approximately 215 ft.;
    • a total density of 5.5 FSR;
    • all over 3 levels of underground parking accessed from Seymour Street through a shared access agreement with Capitol Residences.

The application describes the design rationale: “A number of strategies are employed to create a respectful and considerate massing.

The building reduces in width along the Robson Street frontage to limit the width of the building facing neighbors. The overall composition of the building is arranged as three elements, each responding to the conditions around them.

At the lower levels, retail uses line the street and will extend down Seymour Street at the corner. With the addition of a public plaza along Seymour that creates an entry to the office lobby, a high degree of transparency and a number of access points creating a welcoming frontage, an improved public realm, and renewed set of commercial uses will reinvigorate the site. Importantly, the building configuration creates a three-sided storefront that addresses the significance of the corner.

An outdoor amenity terrace is arranged on the second level of the building, overlooking Robson and Seymour Streets, which is accessible by all building users. Clearly visible and legible from the street, the activation of a second floor use is intended to improve the experience in the public realm. The existing large oak trees on Robson Street
encroach beyond the property line, and the building massing responds to accommodate their continued life on the street.

At the middle section of the building, larger floor office spaces are provided, is set off from the adjacent building to the south, providing a welcome interruption in a city block that is highly regular and large (Orpheum Theatre and Capitol Residences). Setting the massing off the party wall allows the floor space to benefit from greater access to daylight and air, with the space between the new space and party wall acting as a light well. A vegetated wall is introduced in the interstitial space, which covers the existing blank party wall of the neighboring building to the south. Introducing meaningful landscape downtown is intended as a public amenity and as an unexpected addition of nature downtown.”

Under the site’s existing DD zoning, 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 Perkins + Will.

The full development application can be viewed here: https://development.vancouver.ca/600robson/index.htm

February 5, 2019by david.taylor@colliers.com
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
Development, Office, Retail

Unique 17-Storey Office Tower Proposed for Central Heat Site

Westbank has submitted their rezoning application for 720 Beatty Street, the Central Heat site located at the Southeast corner of West Georgia Street and Beatty Street in Downtown Vancouver. The site sits adjacent BC Place. The site was acquired as part of the Creative Energy purchase and rebranding five years ago. The Beatty Street site, which totals 51,820 SF, has been deemed surplus and suitable for commercial redevelopment.

The proposal is for a unique 17-storey office tower that includes:

  • 515,150 SF of office space;
    • 35,000 SF average tower floorplates;
  • 18,503 SF of retail space;
  • a total building height of 263.8 ft;
  • a total density of 11.55 FSR;
  • a 5-storey retail and entertainment pavilion fronting Georgia Street;
  • an upgrade to the creative energy plant;
  • 4 levels of underground parking; 358 parking spaces and 
    325 bicycle spaces.

The application describes part of the rezoning rationale as follows: “This rezoning proposal seeks to repurpose these industrial lands and increase the existing allowable commercial density rights from 7 FSR (under the CBD policies) with 597,192 sq ft of office, retail and Creative Energy plant space on 720 Beatty Street. As one of the largest and only undeveloped areas in the downtown peninsula, we have an extremely rare opportunity here to not only significantly upgrade an aging steam plant, but also create an architectural landmark capable of housing large office floorplates that will draw creative economy tenants into Vancouver. This will allow our city to attract both talent and employers that would otherwise find the standard Vancouver size office floorplates and workspace offerings inadequate for their needs.”

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architects for the project are Bjarke Ingles and HMCA Architecture + Design.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/720beatty2/index.htm

January 29, 2019by david.taylor@colliers.com
Development, Office, Retail

FOR SALE: Downtown Commercial Development Site

We are pleased to introduce 555 Beatty Street, an exceptionally rare opportunity to acquire a 50 ft. lot primed for commercial development directly across from a Skytrain Station and in amongst one of Vancouver’s trendiest and most sought after neighbourhoods. The site does not require rezoning, and allows development up to 7.0 FSR. 

 

Please contact us for further details about the property.

November 23, 2018by david.taylor@colliers.com
Development, Office, Retail

1166 West Pender Office Tower to Include 355,000 SF of Office Space

Reliance Properties has submitted their formal application to rezone 1166 West Pender Street, currently a 15-storey office building located on an 18,630 SF site. Reliance acquired the site through an off-market sale by our team in 2016 for $71,400,000 shortly after which the building’s sole tenant, Canada Revenue Agency, vacated the building. The building has subsequently been leased by another federal government tenant on a shorter term basis.

The plan to redevelop the property envisions as 31-storey office building, to the maximum height allowable when factoring building shadowing performance into account.

The rezoning proposal includes:

  • 355,000 SF of office space;
  • Average floorplates of 12,181 SF;
  • 3,500 SF of retail space;
  • a total density of 18.73 FSR;
  • a building height of 387.5 ft.;
  • six levels of underground parking with 199 vehicle parking stalls and 198 Class A bicycle parking spaces.

The application describes the architectural building character as follows: “1166 West Pender will house 31 floors of office space, blending high design, ecological responsibility, and civic enhancement. The building brings strategic densification to the area, adding 354,978 sf of office space and commercial amenities to a constrained site in the downtown Coal Harbour neighbourhood. Replacing an existing 15-storey office tower, the sinuous 31-storey tower will introduce a strong architectural presence and enhance the public realm. The shape and form of the tower are directly informed by the surrounding buildings and the limitations of the site. Convex and concave exterior walls respond to the contours of the adjacent buildings to form an undulating body wrapped in ceramic-fritted curtain wall glazing. A curved white glass curtain wall affords unobstructed views and establishes a distinct character and impressive presence. The ceramic frit also reduces thermal transmission, lowering heating and cooling costs and improving the building’s sustainability.”

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder and the Higher Buildings Policy.

The architect team for the project is Hariri Pontarini Architects with IBI Group.

November 8, 2018by david.taylor@colliers.com
Page 27 of 70« First...1020«26272829»304050...Last »

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


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.

© 2019 Copyright  |  All Rights Reserved