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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Development, Retail

4-Storey Building Proposed for Kingsway

A development application has been filed with the City of Vancouver for permission to develop a 5,829 SF site at the corner of Kingsway and Welwyn St. in East Vancouver. The site is currently improved with an older single-storey retail building. The proposed project includes:

    • a 4-storey, mixed-use development with 11 dwelling units and commercial units at grade;
    • total density of 2.48 FSR
    • one level of underground parking with 12 stalls.

1690 Kingsway_3 1690 Kingsway1690 Kingsway_1 1690 Kingsway_2

Under the site’s existing C-2  zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Anyone Architecture. The development application can be viewed here: http://development.vancouver.ca/pc1690kingsway/index.htm

August 3, 2016by david.taylor@colliers.com
Development, Retail

Pacific Centre Expansion to Include 31,600 SF of New Space

Cadillac Fairview has applied to the City of Vancouver for permission to replace the existing rotunda at Pacific Centre with a new three-storey retail building consisting of:

    • 31,603 sq. ft. of new retail space; and
    • a peak height of 63 ft.

Under the site’s existing CD-1 (455) zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

701 West Georgia_2

701 West Georgia_1 701 West Georgia

The application describes the design rationale:

“Cadillac Fairview has embarked on multi-phase refresh and updating of the Pacific Centre Mall complex, creating a world class high-end retail centre in the heart of Vancouver. With the introduction of Holt Renfrew a number of years ago and its current expansion, the recently retrofitted Sears building into a new Nordstrom’s and now the reimagining of the Rotunda pavilion at Georgia and Howe. In keeping with the recent developments throughout the Pacific Centre complex, the new Georgia street retail pavilion comprises a similar family of strong timeless design moves. The new Pacific Centre, Georgia street pavilion will feature a strong and expressive roof line, a clear reading of the buildings massing elements and a restrained palate of high quality materials.
The building form consists of glazed retail frontages along Georgia and Howe Streets, Six retail ‘Lanterns’ at the second floor along Georgia Street connect the upper retail to the street and an outdoor restaurant deck at the third floor with a large cantilevered timber canopy overlooking Georgia street and a redeveloped VAG north plaza. The very visible roof-scape will use the strong geometric grid of raised planters and skylights which reflect the geometry of the building façades.
The presence of the six retail ‘Lanterns’ is intended to make more legible, to the surrounding urban environment, the social and transactional nature of the new pavilion’s intended use. Key to this design is the use of high quality cladding materials, dark stone, timber soffits, glass retail fronts and vertical screening.”
701 West Georgia_3

Perkins + Will Architects Canada are the architect for the project.

August 3, 2016by david.taylor@colliers.com
Investment, Retail

SOLD: 3183 Edgemont Boulevard, North Vancouver

I am pleased to announce the sale of 3183 Edgemont Boulevard, North Vancouver, B.C. This 1,500 SF freestanding streetfront retail building has been part of Edgemont Village for over sixty years and is leased to local tenants. The property sold for $2,050,000.

3183 Edgemont_SOLD BRO3183 Edgemont Brochure

July 20, 2016by david.taylor@colliers.com
Apartment, Development

Rental Apartment Building Planned for Cambie Corridor

Strand Development has submitted an application to rezone a 20,727 SF 3-lot land assembly at 210-262 West King Edward Avenue on the Southwest corner of Columbia and King Edward from RS-1 to allow a rental residential development that includes:

    • one 4-storey building on West King Edward Avenue with 2-storey townhouses facing the lane;
    • 52 market rental apartment units;
    • 3 studios; 29 one-bedrooms; 15 two-bedrooms & 5 three-bedrooms
    • a building height of 44 ft. from grade;
    • a total density of 1.77 FSR; and
    • 54 underground parking spaces and 66 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

210 W King Edward 210 W King Edward_1The architect for the project is Yamamoto Architecture.

July 11, 2016by david.taylor@colliers.com
Development, Office

55,000 SF Office/Industrial Building Planned for Mount Pleasant

Champion Development Group Inc. has applied to the City of Vancouver for permission to develop a 18,128 SF site at 151 West 5th Avenue, on the NOrth side of West 5th between Columbia and Manitoba Streets. The plan is for  a new 4-storey mixed use building consisting of:

    • Manufacturing uses on the ground floor and mezzanines;
    • General Office uses on the 2nd through 4th floors;
    • 95 parking spaces in an underground parkade; and
    • total density of 3.00 FSR (54,291 sq. ft.).

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The application describes the design concept:

“The design intent for the project is to create a high-quality, mixed-use development with offices, industrial uses, and collaboration spaces that will enhance the existing neighbourhood and its industrial zone. The overall form and character of the building is inspired from the industrial history of the area and is celebrated in a modernized building to service contemporary industries and office tenancies.


The building is designed with the ability to service small and large scale tenants and the spaces are planned for flexibility and various business types. Double height industrial space on the ground floor with mezzanine space will serve potential manufacturing, storage or production companies while the upper office floors will provide open spaces with access to the outdoors.”
151 West 5th 151 West 5th_1 151 West 5th_2 151 West 5th_3The architect for the project is DYS Architecture.
July 9, 2016by 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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