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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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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Development, Retail

Rezoning Application Submitted for Brickhouse Chinatown Site

The much anticipated rezoning application has been formally submitted to the City of Vancouver for the Brickhouse site at the corner of Main and Union on the Southern edge of Chinatown. The rezoning had been displayed in late last year and into this year at public open houses.  

The plan for the site at 728-796 Main Street is to rezone from the existing HA-1A District to a CD-1 to allow for a 15-storey mixed-use development that includes:

  • commercial space on the ground level and mezzanine;
  • 19 social housing units, located on mezzanine and second levels, to replace existing Single Room Accommodation (SRA) units on site (social housing to be owned by the City);
  • a building height of 150 ft.;
  • a density of 8.12 FSR;
  • 99 market residential units from levels 3 to 15; and
  • four levels of underground parking

728 Main (1)728 Main (2) 728 Main (3) 728 Main (4) The application is made under the Rezoning Policy for Chinatown South (HA-1A).

The architect for the project is Studio One Architecture.

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

Fourth Amazing Brentwood Tower to Include 506 Units

Shape Properties has submitted their rezoning application for Tower 5 of the Amazing Brentwood project. The tower is actually the fourth to be rezoned, with the first three towers now sold out and under construction.

This tower will be located at the Northeast corner of Willingdon Avenue and Halifax Street. Details include:

  • A 51-storey tower located above a 2-storey commercial podium
  • 506 condo units
  • 287 one-bedrooms, 190 two-bedrooms, 27 three-bedrooms & 2 four-bedrooms
  • 11.21 FAR (on net site)
  • 37,542 SF of commercial space
  • 673 parking stalls

Amazing Brentwood_1Once this phase is complete, the four towers will represent almost 2,000 units.

June 26, 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
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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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