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

36 Rental Units Proposed for East Vancouver Site

A rezoning application has been submitted for a property at Templeton and Oxford in East Vancouver.

The proposal is to allow for the development of a 6-storey market rental building. The zoning would change from RM-3A (Residential) District to CD-1 (Comprehensive Development) District. The proposal includes:

  • 36 market rental units;
    • 23 one-bedrooms, 9 two-bedrooms & 4 three-bedrooms;
  • A total density of 2.40 FSR;
  • A building height of 70 ft.;
  • 18 vehicle parking spaces and 68 bicycle parking spaces.

The application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Stuart Howard.

January 25, 2022by david.taylor@colliers.com
Investment, Land

SOLD: Oak & 37th Townhouse Development Site

I am pleased to announce the sale of a eight lot, 63,050 sq. ft. townhouse development site at the corner of Oak Street and West 37th Avenue.

Our team worked with the assembly group of eight owners to secure a successful sale deal. The buyers, a partnership of Citimark and Grosvenor, will be unveiling their concept for a proposed townhouse development in the coming months.

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January 17, 2022by david.taylor@colliers.com
Development, Investment, Land

SOLD: 7000 Lougheed Highway, Burnaby

I’m pleased to announce the sale of 7000 Lougheed Highway, Burnaby. This 14-acre site adjacent Sperling-Burnaby Lake Skytrain station represents one of the largest master plan residential development sites to transact in Metro Vancouver in recent years.

A large-scale transaction of this nature poses complexities and challenges, particularly when planning policy is not yet fully defined. We were able to leverage our skills and expertise to navigate the sale process and deliver for our client.

Congratulations to the buyer, Create Properties; it was a pleasure working with your team and we look forward to seeing this landmark project in the Bainbridge community come to life.

Please contact me for further details.

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January 17, 2022by david.taylor@colliers.com
Apartment, Development

15-Storey Infill Rental Building Pitched for Kerrisdale

A rezoning application has been submitted by Larco for a new infill apartment building next to an existing building they own at 5455 Balsam Street, known as Fontainebleu Apartments, at the Northwest corner of Balsam and West 39th Avenue in Kerrisdale.

The proposal is to allow for the addition of a 15-storey infill residential building on the 57,599 SF site, while retaining the existing 14-storey, 88-unit building.

The proposal for the infill component includes:

  • 145 market rental units;
    • 57 studios, 35 one-bedrooms & 53 two-bedrooms;
  • 15th floor amenity space;
  • A total new density of 1.88 FSR (total density of 3.63 FSR)
  • A building height of 130 ft.;
  • 58 underground vehicle parking spaces and 278 bicycle parking spaces

The application is being considered under the Secured Rental Policy.

The building massing and setbacks are based on the RM-3 zoning.

The architect for the project is Rositch Hemphill Architects.

The property was sold in 2020 for $70,000,000 by Colliers.

December 15, 2021by david.taylor@colliers.com
Development, Office

Hudson Pacific Submits Plans for New Bentall Centre Tower

Hudson Pacific Properties has submitted their formal rezoning application to the City of Vancouver for permission to develop a new office tower at the Bentall Centre, a plan that was first announced earlier this year.

The project, with an address of 1025 Dunsmuir, would see a new hybrid mass timber 16-storey office tower above a one-storey podium constructed in between Bentall 3 and Bentall 4, on the Northwest corner of the site. Details include:

  • A total floor area of 461,619 sq. ft.
  • Office floorplates ranging from 27,700 to 30,425 SF;
  • A building height of 260 ft.;
  • Two levels of underground parking with 173 vehicle parking spaces & 273 bike parking spaces.

Under the site’s existing DD zoning(External link), 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 KPF.

December 7, 2021by david.taylor@colliers.com
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David Taylor - Senior Vice President @ColliersCanada. Chronicling investment and development activity in Vancouver. Views are my own.

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11 May

District of North Van council sends proposed CapU student housing tower back to drawing board via @NorthShoreNews

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16 Apr

First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

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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16 Apr

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

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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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