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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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
Apartment, Development

81 Rental Units Proposed for Shaughnessy Site

Domus Homes has submitted their rezoning application for a 0.9 acre two single-family lot land assembly at 4750 Granville Street and 1494 West 32nd Avenue. The combined site is currently zoned from RS-5.

The application comes just six months after the City of Vancouver rejected a townhouse development across the street.

The proposal for the site includes a new 4-storey rental building with:

  • 81 market rental units;
    • 52 one-bedrooms, 19 two-bedrooms & 10 three/four-bedrooms;
  • a total density of 1.50 FSR;
  • a building height of 44 ft; and
  • 70 underground vehicle parking spaces and 154 bicycle spaces.

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

The architect for the project is Stuart Howard Architects.

Domus acquired the site in October 2019 for $12,700,000 or $223 per buildable SF.

January 29, 2020by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

FOR SALE: 14-Acre Mixed-use /Residential Development Site

We are pleased to present this 14-acre residential/mixed-use development site in Burnaby, located adjacent the Sperling-Burnaby Lake Station.

Please download our brochure for further information about the Property.

January 24, 2020by david.taylor@colliers.com
Condo, Development, Office

Landa Global Acquires Richmond Hotel/Condo Site

Landa Global has acquired a 3.4 acre development site on Elmbridge Way in the City Centre area of Richmond for $60 Million. The site is designated Urban Centre T5 within the Oval Village subarea of the City Centre Area Plan.

A rezoning application had been submitted by the previous owner to allow a high-density mixed use residential hotel development in three towers.

The site at 6851 & 6871 Elmbridge Way had been listed for sale with Avison Young in 2019:

We reported the site’s previous sale in 2014. The purchase price at that time was $31,300,000.

January 21, 2020by david.taylor@colliers.com
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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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