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, Condo, Development, Land, Rental, Retail

Vision for Capilano Mall Redevelopment Includes 11 Towers, Up to 3,100 Units

QuadReal has unveiled preliminary concept plans for the redevelopment of Capilano Mall in North Vancouver. The plans are being unveiled for community input before a more detailed application in 2025, including a required OCP Amendment.

The 17-acre property has been the subject of preliminary planning on and off since 2019, but got underway again in 2023.

Overall concept details include:

  • 11 Towers, 12-40 storeys in height;
  • ~ 3,100 residential units;
  • 30% rental;
  • 10% mid-market rental;
  • 152,000 SF of retail/commercial space;
  • 1.5 acres of public/park space
  • a 20-30,000 SF community centre;
  • a total density of 4.0 FSR.
Timeline

Further info can be found on the project’s consultation website: https://www.reimaginecapilano.com/

November 29, 2024by david.taylor@colliers.com
Apartment, Rental, Retail

Robson Street Site to be Redeveloped for Two Rental Towers with 393 Units, Retail

GWL Realty Advisors Inc. has applied to the City of Vancouver for permission to redevelop the 264 ft. of frontage that they own in the 1500 Block of Robson Street at 1525-1555 Robson, at the corner of Cardero Street.

The site is an assembly of two separate site acquisitions, with the latter of the two at 1555 Robson acquired in April 2024 out of foreclosure, for $58 Million.

The plan for the combined site is two rental towers, 29-storeys and 28-storeys, with retail uses at grade. Details include:

  • 393 market rental units;
  • 40,000 SF of retail space on two levels (1.2 FSR);
  • a total density of 9.625 FSR;
  • four levels of underground parking with 251 parking stalls.

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 Arcadis.

November 14, 2024by david.taylor@colliers.com
Apartment, Development, Hotel

29-Storey Hotel Proposed for West End Site

Marcon has submitted a rezoning application for 2030-2038 Barclay Street in the West End. The site is currently a 4-storey extended stay hotel property called Rosellen Suites.

The site was previously approved for a 10-storey, 19-unit condo project under the existing RM-5B zoning.

The new proposal is to allow for the development of a 29-storey hotel and long-term stay building and includes:

  • 292 units;
    • 65 short term stay rooms & 227 serviced apartments;
  • 2,800 SF of restaurant space;
  • a total density of 14.7 FSR; and
  • A building height of 329 ft.

The architect for the project is Henriquez Partners.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2030-2038-barclay-st

November 4, 2024by david.taylor@colliers.com
Apartment, Development, Rental

115 Unit Rental Building Proposed for Commercial Drive Site

Fabric Living has submitted a rezoning application for a site at 3295-3333 Commercial Drive in East Vancouver for a new lowrise rental building.

The 33,158 SF site is located on Commercial Drive near East 18th Avenue.

The proposal is to allow for the development of a 5-storey residential rental building and includes:

  • 115 market rental units;
  • an outdoor pool;
  • a total density of 2.15 FSR; and
  • A building height of 67 ft.

This application is being considered under the Secured Rental Policy.

The full application can be viewed here: https://www.shapeyourcity.ca/3295-3333-commercial-dr

The architect for the project is TKA+D.

November 2, 2024by david.taylor@colliers.com
Apartment, Development, Rental

First Application Under New TOA Rezoning Policy Seeks 6-Storey Rental In Place of Approved Townhouses

Sightline Properties has submitted the first rezoning application under the City of Vancouver’s TOA Rezoning Policy, adopted by City Council in June 2024 following the Provincial TOA legislation.

The 50,013 SF site at 520-590 West 29th Avenue is a full city block land assembly between Cambie and Ash Street. The site was previously approved in 2022 as a 46-unit townhouse project under the RM-8A zoning under the Cambie Corridor Plan.

As the site is located 500 metres from the King Edward Canada Line Station and under the TOA Rezoning Policy, will allow up to 3.0 FSR (80% market rental, 20% below market rental).

The proposal envisions two 6-storey woodframe rental buildings, with townhouses on the lane. It includes:

  • 230 rental units (20% below-market);
  • a total density of 3.0 FSR;
  • A building height of 69 ft.;
  • an 1,800 SF gym on the parkade level with natural light from clerestory windows;
  • a single level of underground parking.

The massing and project setbacks are based off of the City’s existing RR-2C District Schedule.

The application is being considered under the Transit-Oriented Areas Rezoning Policy.

The architect for the project is Yamamoto Architecture.

October 22, 2024by 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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