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, Retail

Rental Building Proposed for Main Street Site

A rezoning application has been submitted by Vorden Development Corp. for an 18,487 SF site at 4906-4958 Main Street, at the southeast corner of Main Street and East 33rd Avenue within the Riley Park-Little Mountain neighbourhood of Vancouver.

The proposal plans to replace this 5-lot assembly with a new 6-storey rental building that includes:

  • 72 market rental units;
    • 22 studios, 24 one-bedrooms, 14 two-bedrooms & 12 three-bedrooms;
  • 8,000 SF retail space at grade;
  • a total density of 3.20 FSR;
  • A building height of 21.5 m (70.5 ft.); and
  • 75 vehicle parking spaces and 147 bicycle parking spaces.

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is WT Leung.

October 15, 2022by david.taylor@colliers.com
Apartment, Development, Retail

192-Unit Rental Building Pitched for Port Moody Site

Anthem Properties has submitted a rezoning and development permit application to the City of Port Moody for a 1.1 acre site at 3121-3127 St. Johns Street and 110-118 James Road.

The site is located across James Road from Moody Middle School and is comprised currently of a parking lot, a house and a duplex.

The location of the site is identified as a candidate for rezoning in the Port Moody OCP as 6-Storey Mixed Use.

The proposal is for a 6-storey woodframe market rental building that includes:

  • 192 units
    • 6 studios, 118 one-bedrooms, 46 two-bedrooms & 22 three-bedrooms;
  • 4,900 SF of retail space;
  • a total density of 3.0 FAR;
  • 241 vehicle parking spaces on 2 underground levels accessed off James Road, 289 long term resident bicycle storage spaces and 23 short term visitor bicycle spaces; and
  • an outdoor, amenity courtyard.

The architect for the project is Integra Architecture.

October 15, 2022by david.taylor@colliers.com
Apartment, Condo, Development

Polygon Advances Updated “Coronation Heights” Development

Polygon is bringing forward an updated version of their Coronation Heights project to Coquitlam City Council. The 11.3 acre site is a former elementary school that was purchased in 2016. It sits directly East of Wesgroup’s proposed master plan community for Coronation Park, on the Port Moody side.

The original development application was made in March 2021 and has since been refined based on Council and community feedback. Polygon has also acquired additional surrounding lots now incorporated into the plan and has increased the total rental units in the project.

The current proposal includes:

  • Nine towers between 29-47 storeys in height;
  • 2,834 residential units;
  • 2,050 condos;
  • 784 rental units including below market units;
  • a total density of 5.53 FAR;
  • a one-acre public park on the Northwest corner;
  • two child care centres;
  • a 27,000 SF amenity building;
  • 3,600 SF of commercial space.

The project is intended to be built over 6 phases.

The overall project DCCs, density bonus payments and CACs are estimated to be $140 Million.

September 26, 2022by david.taylor@colliers.com
Apartment, Development

28 Rental Units Proposed for SW Marine Drive Site

A rezoning application has been submitted to the City of Vancouver that would allow a new rental townhouse development on a one-acre single family lot at 1890 SW Marine Drive in Vancouver.

The site is currently improved with a newer 4,300 SF house with a pool and tennis court. The house was built in just 2005. It most recently sold in 2017 for $10,500,000.

The zoning would change from RS-1 to CD-1. The proposal includes:

  • 28 secured market rental units;
  • A total density of 0.73 FSR;
  • Building heights of 41 ft.; and
  • 24 underground vehicle parking spaces and 68 bicycle parking spaces

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Stuart Howard.

September 17, 2022by david.taylor@colliers.com
Condo, Development, Office, Retail

Mixed Use Building Proposed for Dundarave Village Site

A development permit application has been submitted by Dundarave Beachside Limited Partnership for an assembly of six commercial properties totaling 43,765 SF in the Dundarave Village area of West Vancouver.

The site at 2452-2496 Marine Drive is located at the Southeast corner of Marine Drive and 25th Street. It is currently occupied by a Shopper Drug Mart and several other single-storey retail tenants.

The proposal is for a new three-storey building that includes:

  • 55 condo units;
    • 20 one-bedrooms, 27 two-bedrooms & 8 three-bedrooms;
  • 12,000 SF of retail space;
  • 10,000 SF of office space;
  • a total density of 2.29 FSR;
  • a plaza and parkette at Marine Drive and 25th Street
  • an improved pedestrian connection at the east end of the site
  • 122 underground parking spaces;
  • 110 bicycle storage spaces.

The architect for the project is IBI Group.

July 22, 2022by 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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