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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Condo, Retail

Final Seylynn Village Tower to Include 274 Units

A development permit application has been filed for the third phase and final tower at Seylynn Village, a 5.7 acre site that will total 790 units and commercial space when completed. The original rezoning for the site in the Lynn Creek area was approved in 2012 and the development has been ongoing since that time with the soon to be completed 28-storey Compass tower, and the already completed Beacon building as well as a 6-storey non-market rental building. The total density for Seylynn Village at rezoning is 3.2 FSR.

Our team acted in the sale of the site in 2011.

The final building, entitled “Apex” will be located at the intersection of Mountain Highway and Fern Street.

Details of the 32-storey tower include:

  • 274 condo units;
  • 113 one-bedrooms, 122 two-bedrooms, 38 three-bedrooms & 1 four-bedroom;
  • 8,782 SF of retail space fronting Mountain Hwy;
  • a total building height of 322 feet;
  • 373 parking stalls on two underground levels.

 

July 5, 2018by david.taylor@colliers.com
Condo, Office, Retail

Mixed-Use Project Proposed for No. 3 Road & Lansdowne

Townline has applied to the City of Richmond for permission to rezone a 97,400 SF site on the west side of No 3 Road in Richmond. The assembly of four lots is located at the corner of Lansdowne Road, across from Lansdowne Centre. The lots are improved with older lowrise commercial buildings including the Milan Ilich Arthritis Research Centre. The site sits directly South of another large scale rezoning proposal currently in the latter stages of approval, named ‘Atmosphere‘, and directly across from the Lansdowne Canada Line Station.

The proposal calls to rezone the properties at 5591,5631,5651 and 5671 No.3 Road to “High Density Mixed Use – Lansdowne Village (City Centre)” in order to permit a high-density commercial, office and residential use development.

The proposal is for a new mixed use development comprised of a podium and tower form of development with below and above grade parking, ground level commercial, a signature 12-storey office tower and three 10-storey residential towers.

Details include:

  • 365 residential units;
    • 354 condos;
    • 20 affordable housing units (low end market rental);
  • 19,279 SF of retail space on the ground level;
  • 77,740 SF of office space;
  • a total density of 4.0 FAR;
  • A 6,000 SF on-site community facility;
  • Dedication for new north-south road on West side of site;
  • Design, construction and transfer to the City of the area of the site designated for the Lansdowne linear park;
  • 548 parking spaces (below and above grade).

 

The architect for the project is Musson Cattell Mackey Partnership.

July 5, 2018by david.taylor@colliers.com
Apartment, Condo

Two Metrotown Highrise Projects Proposed by Anthem

Anthem Properties has submitted rezoning applications for two sites in the Metrotown area of Burnaby. If the applications are approved at Council, they will move forward to public hearing next month.

The proposals are:

6444 Willingdon Avenue & 4241 Maywood Street

The plan for this 65,486 SF site located at the comer of Willingdon Avenue and Maywood Street is a new 42-storey highrise, with townhouses fronting Maywood Street and Cassie Avenue, and a 3-storey non-market rental building. The site is in the Maywood neighbourhood and is utilizing the RM5s and RMS Multiple Family Residential Districts and Metrotown Downtown Plan as guidelines.

Details of this proposal include:

  • 378 units;
    • 348 condo units;
    • 30 non-market rental units (New Vista Society);
  • a total density of 5.32 FAR;
  • a total tower height of 430 ft.;
  • 470 underground parking spaces.

 

 


6075 Wilson Avenue

This site is located at the comer of Wilson Avenue and Central Boulevard and totals 62,641 SF. The Metrotown Downtown Plan identifies this neighbourhood as a high density neighbourhood with a garden-like setting that is defined by its relationships to Central Park, Kingsway, the BC Parkway and Patterson SkyTrain station. The rezoning policy for the site is based upon the RM5s and RM3 designations.

The proposed development plan is for a single 45-storey condo tower oriented towards the comer of Central Boulevard and Wilson Avenue with a 4-storey townhouse podium oriented towards Wilson Avenue and a 4-storey non-market rental housing component oriented towards Central Boulevard.

Details include:

  • 379 units;
    • 347 condo units;
    • 32 non-market rental units;
  • a total density of 5.37 FAR;
  • a total tower height of 425 ft.;
  • 419 underground parking spaces.

 

 

 

 

 

 

 

 

 

 

 

 

The architect for both projects is listed as GBL Architects.

June 22, 2018by david.taylor@colliers.com
Apartment, Development

38 Rental Units Planned for Grandview Woodland Site

A rezoning application has been submitted for a 4-lot land assembly at 1535-1557 Grant Street in the Grandview Woodland area of East Vancouver. The plan calls to rezone the 13,060 SF site from RM-4N to allow a 6-storey residential building over one level of underground praking and includes:

    • 38 secured rental housing units;
    • 22 one-bedrooms, 8 two-bedrooms & 8 three-bedrooms;
    • a total density of 2.25 FSR;
    • a building height of 63.6 ft; and
    • 23 parking spaces (including one care share).

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

The architect for the project is Stuart Howard Architects.

June 22, 2018by david.taylor@colliers.com
Condo, Retail

365 Units Planned for Alderbridge Way Site

Just West of the 7960 Alderbridge rezoning posted below, Onni has applied to the City of Richmond for permission to develop the second phase of their Riva project.The rezoning would allow the site at 7811 Alderbridge Way to be redeveloped from the current industrial use to a mixed-use mid-rise residential and limited commercial development on a property in the City Centre’s Lansdowne Village.

The 4.7 acre site is located on the north side of Alderbridge Way at Minoru Boulevard adjacent the first phase of Riva. 

The City Centre Area Plan (CCAP) Lansdowne Village Specific Land Use Map designates the site as “Urban Centre T5 (25m)”  and allows for a maximum average net development site density of 2.0 FAR. 

The plan calls for two buildings, one 6-storeys and the other 5-storeys, including:

  • 365 residential units
    • 343 condo units;
    • 22 affordable housing low end market rental units;
  • 3,000 SF of retail space;
  • a total density of 2.0 FAR;
  • a one and a half level parkade structure that is partially lowered in the site;
  • 516 parking space;
  • indoor and outdoor amenity spaces;
  • extension of Minoru Boulevard, widening of Alderbridge Way.

The architect for the project is Yamamoto Architecture.

June 22, 2018by 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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