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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Apartment, Development

78-unit Rental Building Planned in Kits

A rezoning application has been submitted for a new 5-storey rental apartment building in Kits. The site, located at 3063-3091 West Broadway is 21,652 SF and is anticipated to be rezoned from C-2C to CD-1. Details include:

    • 78 secured market rental units;
    • commercial uses at grade;
    • a proposed density of 3.33 FSR
    • a building height of 58.4 ft. ; and
    • 92 underground parking spaces.

This application is being considered under the Secured Market Rental Housing (Rental 100) Program.

3091 West Broadway 3091 West Broadway_1

April 13, 2015by david.taylor@colliers.com
Apartment, Development

Market Update: Burnaby Rezoning Applications

Here is a list of rezoning applications headed for Burnaby City Council’s consideration on Monday:

  1. 8850 University Crescent (SFU Univercity) – Highrise residential tower with mid-rise residential building
  2. 5521-5525 Hastings Street – 4-storey mixed use building based on C2 and RM3 guidelines
  3. Brentwood Mall Site Phase III – third highrise residential building by Shape Properties
  4. 4453-4475 Hastings Street – 4-storey mixed use building  based on C8a guidelines and Heights Community Plan
  5. 7911-7923 Edmonds Street – 4-storey mixed use buildings based on C9 guidelines and Sixth Street Community Plan
  6. 4769 Hazel Street & 4758 Grange Street – This interesting proposal by Bentall Kennedy seeks to amend the existing CD zoning on a 2.4 acre highrise apartment site it owns in the Metrotown area. The proposal seeks to add additional apartment units on the site, depicted below.

4758 Grange

 

April 13, 2015by david.taylor@colliers.com
Apartment, Investment

FOR SALE: 88-Unit Multifamily Investment Opportunity

Cranberry Lane_BROCranberry Lane Brochure

April 13, 2015by david.taylor@colliers.com
Apartment, Development

Rental Building Proposed for Commercial Drive

A rezoning application has been submitted for a 33,730 SF site at the Northwest corner of Commercial Drive and East 18th Avenue in East Vancouver. The rezoning is seeking to create 3365 Commercial Drive and 1695-1775 East 18th Avenue from RS-2 (Single Family Dwelling) District to CD-1 (Comprehensive Development) District.  The rezoning will create two separate buildings, as follows:

  • A heritage designated house (relocated from another portion of the site) with:
    • 5 three-bedroom market units
    • A total density of 1.12 FSR
  • A new rental building on the balance of the site, which contains:
    • 112 secured market rental units (25 studios, 45 1-bedroom, 32 two-bedroom, and 10 three-bedroom);
    • 2.85 FSR
    • 64 underground parking spaces and 144 bicycle spaces.

This application is being considered under the Interim Rezoning Policy for Increasing Affordable Housing Choices and the Herit3365 Commercialage Policies and Guidelines.

3365 Commercial Dr 3365 Commercial Dr_2

March 25, 2015by david.taylor@colliers.com
Development, Office

Mount Pleasant Infill Project Highlights Possibilities in I-1 Zone

A development application by Rendition Developments for a 50 foot lot at the Northwest corner of Ontario and West 6th Avenue demonstrates the type of development we are likely to see more of in the I-1 zoned area of Mount Pleasant. The site address is 2151 Ontario.

The plan for this 6,039 SF site is a three-storey building with clothing manufacturing on the ground floor, and general offices on the 2nd and 3rd floors. Details includes:

  • 5,909 SF of manufacturing area
  • 11,875 SF of office space
  • A density of 2.95 FSR
  • 13 underground parking stalls

2151 Ontario 2151 Ontario_2

The site is currently improved with a single storey industrial building that was listed for sale late last year for $2,695,000, and sold for full asking price.

Changes made to the I-1 zone in 2013 allowed more flexibility with respect to building general office space, which was previously restricted to uses related to the manufacturing. Parking relaxations have also allowed sites such as 2151 Ontario to reach full density without further assembly for underground parking.

Not surprisingly, the 2013 zoning changes have resulted in an attendant increase in sales activity and land values over the past 18 months, a trend which is reinforced with stagnant rates for older light-industrial space.

March 25, 2015by david.taylor@colliers.com
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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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