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.
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

69 Rental Units Proposed for Lower Lonsdale

A rezoning application has been submitted by Three Shores Development for a mid-block site at 145-153 East 4th Street in the Lower Lonsdale area of North Vancouver.

The plan for the 17,284 SF calls to allow a new 6-storey rental apartment building. The existing site consists of two older apartment buildings totaling 20 units that will be replaced.

Details include:

  • 69 market rental units;
  • 7 mid-market rental units;
  • 20 studios, 29 one-bedrooms, 10 two-bedrooms & 10 three-bedrooms;
  • a total density of 2.57 FSR;
  • 52 underground parking spaces.

The architect for the project is Integra Architecture.

The site had been listed for sale in 2019 with an asking price of $9,850,000.

February 4, 2021by david.taylor@colliers.com
Apartment, Development, Retail

Rental Highrise Proposed for Southeast False Creek Site

A rezoning application has been submitted by Point Grey Developments for the site at 5 West 2nd Avenue, the Big City’s Autobody site at the Northwest corner of West 2nd and Ontario in the Southeast False Creek area of Vancouver.

The site has been owned by a local family since the 1960’s.

The proposal is to allow for the development of an 18-storey rental building with commercial uses at grade. The zoning would change from M-2 to CD and the project includes:

  • 122 market rental units;
  • 20% of the residential floor area assigned to moderate income households;
  • 21 studios, 57 one-bedrooms, 36 two-bedrooms & 8 three-bedrooms;
  • 4,893 SF of retail space at grade;
  • A density of 7.77 FSR;
  • A building height of 181 ft.;
  • 53 parking spaces and 232 bicycle spaces.

The application is being considered under the Southeast False Creek Official Development Plan and the Below-Market Rental Housing Policy for Rezonings.

The architect for the project is MA+HG Architects Inc.

January 26, 2021by david.taylor@colliers.com
Apartment, Development, Retail

Increased Height & Density Pitched for Ashley Mar Co-Op Redevelopment

Intracorp has submitted a revised rezoning application for the Ashley Mar Co-op site 8460 Ash Street in the Marpole area of Vancouver.

Their original rezoning application from 2019 envisioned three towers at 15, 24, 27 storeys and included 457 rental units.

The new application proposes increased tower heights, density and more units in exchange for increased setbacks along Ash Street to allow for improved tree retention. The proposal now includes:

  • Three towers at 16, 27 and 31 storeys;
  • 1-for-1 replacement of the existing 54 Ashley Mar Housing Co-operative units;
  • 71 additional non-market housing units;
  • 524 secured market rental units;
  • 1 commercial-retail unit;
  • A total density of 8.21 FSR (up from 7.54 FSR)
  • A max building height of 304 ft. (up from 267 ft);
  • 195 vehicle parking spaces and 1,297 bicycle parking spaces.

The application is being considered under the Marpole Community Plan and the Ashley Mar Issues Report (February 11, 2020).

January 24, 2021by david.taylor@colliers.com
Apartment, Development, Retail

79 Rental Unit Proposal Submitted for Kingsway Site

Hudsonmorris Projects has submitted a rezoning application for the 7-11 site at the Southeast corner of Kingsway and Joyce in East Vancouver.

The proposal, entitled “J@K” for 3304 Kingsway is to allow for the development of a new 6-storey mixed use building. The zoning for the 13,530 SF site would change from C-2 and includes:

  • 79 market rental units;
  • 45 studios, 5 one bedrooms & 29 two-bedrooms;
  • 5,900 SF of retail space;
  • a total density of 3.93 FSR;
  • A building height of 74 ft.;
  • 31 vehicle parking spaces and 174 bicycle parking spaces.

The application is being considered under the Secured Rental Policy.

Hudsonmorris acquired the site in July 2020 for $4,850,000 or $86 per buildable SF based on the application.

The architect for the project is Yamamoto Architecture.

January 22, 2021by david.taylor@colliers.com
Apartment, Development

133 Rental Units Planned for Port Moody Site

PC Urban has submitted a preliminary rezoning application to the City of Port Moody for a 6-storey market-rental project on a four single-family lot assembly at 3316-3330 Dewdney Trunk Road.

The 33,233 SF site is located down the block from a 229-unit rental project built by PC Urban, now nearing completion.

Details of the new proposal include:

  • 133 rental units;
  • 52 one-bedrooms and 58 two-bedrooms;
  • a total density of 3.38 FSR;
  • 90 underground parking spaces.

The OCP indicates 4-storeys for this site, and so an OCP amendment is required.

The architect for the project is NSDA Architects.

January 18, 2021by 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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