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Apartment, Investment

University Lodge, 5516 Dalhousie Road, Sold

University Lodge Apartments, 5516 Dalhousie Road, an 11-unit apartment on the UBC Endowment lands has sold for $4,475,000, or $406,750 per unit. The cap rate was 4.5%. The 3-storey walkup apartment building was built in 1927. The building had been listed for sale for $5,068,000, or a 4% cap rate.

5516 Dalhousie

October 1, 2013by david.taylor@colliers.com
Development, Office

Morguard Proposing 25-Storey Office Building at 601 West Hastings

Morguard has applied to the City of Vancouver to amend the existing CD-1 for their property 601 West Hastings Street (also referred to as 333 Seymour Street) to retain the existing office tower, and build a 25-storey office building with:

  • A total floor area of 227,700 SF
  • 3,627 sq. ft. of ground level retail space
  • a public plaza
  • a density of 24.34 FSR
  • a proposed height of 357 ft
  • 102 parking spaces and 78 bicycle parking spaces in 5 levels of underground parking

601 West Hastings601 West Hastings_2

September 19, 2013by david.taylor@colliers.com
Development, Retail

Richmond Walmart Deal Hits Buffer — Again

Plans for the $100 million Walmart-anchored shopping centre in West Cambie have once again hit a roadblock after city council’s planning committee refused to approve the project.

With only two of the five councillors on committee in support — Evelina Halsey-Brandt and Linda Barnes were in favour — the proposal was shunted back to city staff at the end of an occasionally heated two-and-half-hour meeting Tuesday.

The primary reason for stalling this time was planning chair Coun. Bill McNulty’s demand to know just how many people are expected to flock to the 14-acre shopping centre between Alderbridge Way and Alexandra Road, near Garden City Road.

It’s a factor that McNulty, whose motion it was to send the proposal back to staff, believes is critical to be aware of before he can consider sending the proposal to a public hearing.

“I’m in no rush to push this forward,” said McNulty of the now 10-year-old plans.

Read more at: http://www.richmond-news.com/news/update-richmond-walmart-deal-hits-buffer-again-1.627675#sthash.9EFCdDFB.dpuf

September 19, 2013by david.taylor@colliers.com
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