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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Development, Office, Retail

Details Emerge for 450 West Georgia Office Tower

Austeville Properties has submitted their rezoning application for 450 West Georgia Street, a mostly vacant lot with two smaller buildings at West Georgia and Richards. The site is located between Deloitte Summit (400 West Georgia) and Telus Garden.

The proposal calls for a 23-storey office building with retail at grade. Details include:

  • 374,068 sq. ft. of office space;
  • 1,500 sq ft. of retail space;
  • a building height 286 ft.;
  • a total density of 15.65 FSR;
  • 270 vehicle parking spaces and 236 bicycle spaces

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architect is W.T. Leung Architects.

February 16, 2020by david.taylor@colliers.com
Apartment, Development

35 Rental Units Proposed for West 4th Site

A rezoning application has been submitted for a 7,400 SF site at 3084 West 4th Avenue and 2010 Balaclava Street. The site is currently zoned RM-4 and the rezoning seeks to allow for the development of a 6 storey residential building that includes:

  • 35 market rental units (with 20% of the residential floor area assigned to moderate income households)
    • 8 studios, 14 one-bedrooms & 13 two-bedrooms
  • a total density of 2.95 FSR;
  • a building height of 66 ft.); and
  • 15 underground parking stalls and 54 bike spaces.

The application is being considered under the Moderate Income Rental Housing Pilot Program.

The architect for the project is Ekistics Architecture.

February 11, 2020by david.taylor@colliers.com
Apartment, Development, Retail

107 Rental Units Planned for Two Fraser Street Sites

Two rezoning applications have been submitted by Spire Development under the City of Vancouver’s Affordable Housing Choices Interim Rezoning Policy for adjoining sites at Fraser Street and East 56th Avenue.

7280 Fraser Street

The proposal for this full block fronting the East side of Fraser between 56th and 57th includes a 6-storey building with:

  • 95 market rental units;
  • 8,000 SF of retail space at grade;
  • a total density of 3.17 FSR;
  • a building height of 67 ft;
  • 71 underground parking stalls and 185 bike spaces; and
  • 18 underground parking stalls and 28 bicycle spaces for the adjoining building.

724 East 56th Avenue

The proposal for this current surface parking lot on East 56th Avenue includes two 3-storey stacked townhouse rental buildings. Details include:

  • 12 market rental units;
  • a total density of 1.40 FSR;
  • a building height of 33 ft;
  • all underground parking in the adjacent building fronting Fraser.

The architect for the project is Cornerstone Architecture.

The two lots sold in December 2018 for $16,000,000, or $165 per buildable SF based on the applications.

February 4, 2020by david.taylor@colliers.com
Condo, Development, Retail

Condo/Hotel Project Planned for Cambie Site

Wall Financial has submitted a rezoning application for a full-block site at Cambie & 43rd.

The 31,692 SF site at 5910-5962 Cambie Street is currently zoned RT-2 but was redesignated for highrise development in the Cambie Corridor Plan.

The proposal consists of a mixed-use development with a 29-storey market residential tower and a 15-storey hotel tower over a 5-storey podium, with retail.

The proposal includes:

  • 168 condo units;
    • 94 one-bedrooms & 74 two-bedrooms;
  • 270 hotel rooms;
  • 4,383 SF of retail at grade;
  • a total density of 10.86 FSR;
  • a maximum building height of 278 ft.; and
  • 281 underground vehicle parking spaces and 377 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Perkins + Will.

February 4, 2020by david.taylor@colliers.com
Development, Office

Construction Update: Deloitte Summit

One of the more fascinating construction projects to watch in town has been 410 West Georgia Street, now known as ‘Deloitte Summit’ after its lead tenant. The building is being developed by Westbank.

The 24-storey, 375,000 SF office tower began below-grade construction less than a year ago and is now well advanced above ground level in part, due to the steel construction which progresses more rapidly than concrete.

Photos courtsey mcminsen

January 31, 2020by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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