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, Office, Retail

PCI Planning 600 Rental Units, Office Tower For False Creek Flats Site

PCI Group & Low Tide Properties have submitted their rezoning application for 1155 East 6th Avenue.

The site is located adjacent to VCC-Clark SkyTrain Station directly north of Vancouver Community College with China Creek Park located to the southwest.

The Broadway Plan envisions high-density industrial, office, and retail uses with a maximum density of 10.0 FSR for 1155 E 6th Ave.

The proposal for the site is a mix of uses including a 19-storey office building (west tower) and two 35-storey mixed-use rental buildings (centre and east towers) and includes:

  • 600 rental units including 120 below market units;
  • 180,000 SF of office space;
  • a full size grocery store;
  • 40,000 SF of light industrial space;
  • a 64-space childcare facility dedicated to the City; and
  • a total density of 8.67 FSR.

This application is being considered under the Broadway Plan.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1155-e-6-ave

The site was acquired in 2021 for $110,635,700, or $148 per buildable SF based on the application.

August 15, 2024by david.taylor@colliers.com
Development, Rental, Retail

6-Storey Mixed Use Building Planned for Port Moody Site

A rezoning and OCP amendment application have been submitted by Benedet Properties for a site at 2331-2335 St. Johns Street for a new 6-storey building including rental apartment units above retail.

The site consists of two lots at the southwest corner of St. Johns Street and Queens Street plus a portion of City land within the Queens Street right-of-way.

The proposal is to construct a 6-storey mixed-use commercial and residential building and a rooftop garden. The first two levels of the building would contain a Bosa Foods and a parkade for commercial use on the same ground level with a mezzanine and portion of residential parking stalls at the rear on the next floor. Due to the sloping nature of the site, the lowest commercial level
facing St. Johns Street is considered to be a “basement”.

Additional details include:

  • 48 market rental units;
    • 8 studios, 21 one-bedrooms, 12 two-bedrooms & 7 three-bedrooms;
  • 6,900 SF Bosa Foods Store;
  • a total density of 2.63 FSR;
  • a CAC payment of $161,627 ($2.88 per SF)

The architect for the project is Cornerstone Architecture.

August 14, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

34-Storey Rental Tower Planned for Broadway & Granville

Gracorp has submitted a rezoning application for a site at 1470-1476 West Broadway, on the South side of Broadway just East of Granville.

The proposal for the 15,633 SF site is to allow for the development of a 34-storey rental tower that includes:

  • 300 rental units;
  • 20% below-market;
  • 2,500 SF of retail space;
  • a secondary Broadway Subway station entrance for South Granville station;
  • a total density of 13.0 FSR;
  • A building height of 391 ft.

This application is being considered under the Broadway Plan. The application requests consideration of additional density and for a reduction in the minimum job space requirements.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1470-1476-w-broadway

July 26, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

20-Storey, 185-Unit Rental Tower Planned for Kits Site

Millenium Development has submitted a rezoning application for a new rental tower proposal at 2170 West 1st Avenue, near the corner of Yew Street in the Kitsilano area of the Broadway Plan.

The 21,000 SF site is located in the Kitsilano North – Area B (KKNB) policy area of the Broadway Plan.

The proposal calls for a 20-storey rental tower with a 4-storey podium and includes:

  • 185 rental units;
  • 20% below market;
  • 6,300 SF of commercial space;
  • A total density of 6.80 FSR;
  • A building height of 212 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Chris Dikeakos.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2158-2170-w-1-ave

July 18, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

17-Storey Rental Building Near 12th & Main Latest Broadway Plan Application

A rezoning application has been submitted by Prospero & Five Mile Holdings for a site at 245 East 12th Avenue in the Mount Pleasant area.

The 16,000 SF site is located in the ‘Mount Pleasant South Apartment Area – Area ‘A’ [MSAA] subarea of the Broadway Plan.

The proposal is to allow for the development of an 17-storey rental building with a three-storey podium and includes:

  • 146 rental units;
  • 20% below-market;
  • 4,400 SF of retail space on the ground floor;
  • A total density of 6.79 FSR; and
  • A building height of 181 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

July 16, 2024by 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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