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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Development, Rental, Retail

Westbank Submits Application for Rental & Social Housing Towers on East Hastings Sites

Westbank, in partnership with Promerita and BC Housing have submitted a rezoning application for three non-contiguous sites in the 1000 and 1100 Block of East Hastings Street in the Downtown Eastside area of Vancouver.

The sites are located at 1030-1070 East Hastings, 1115-1127 East Hastings and 1168-1180 East Hastings.

The City of Vancouver has received an application to rezone the subject site from M-1 to CD-1 to allow the development of three towers and 924 units on these sites:

  • Two rental towers, 39 & 38-storeys (767 market rental units)
  • A 19-storey seniors housing tower to be owned by BC Housing;
  • Commercial space on the ground floor;
  • A total density of 23.3 FSR.

The application is being considered under the Downtown Eastside Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is ZGF Architecture.

The full application can be viewed here: https://www.shapeyourcity.ca/1030-1070-e-hastings-st

September 8, 2024by david.taylor@colliers.com
For Sale, Office, Retail

FOR SALE: Westwood Square, High-Exposure Commercial Centre

Along with my colleagues Casey Weeks and Morgan Iannone (IW Investment and Land Sales Group), I’m pleased to present for sale Westwood Square, 3242 Westwood Street, Port Coquitlam.

Please contact me for more information or visit: https://www.collierscanada.com/en-ca/properties/westwood-square-high-exposure-commercial-centre-with-income-upside-and-long-term-development-potential/can-3242-westwood-street-port-coquitlam-bc-v3c-3l8/can2015978

September 1, 2024by david.taylor@colliers.com
Condo, Development, Retail

24-Storey Condo Proposal Pitched for Knight & King Edward in East Vancouver

Conwest Developments has submitted a rezoning application to he City of Vancouver for a site at the Northwest corner of Knight Street and King Edward in East Vancouver.

The 13,000 SF C-2 and RM-1 zoned site is currently improved with an old strip mall.

The proposal contemplates a 24-storey condo tower, and includes:

  • 233 condo units;
  • 4,300 SF of retail space on the ground floor;
  • a 37-space childcare facility;
  • a total density of 10.47 FSR; and
  • A building height of 261 ft.

The architect for the project is Francl Architecture.

August 16, 2024by david.taylor@colliers.com
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
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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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