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

578-Room Hotel Planned for Pender & Richards Site

Marcon has submitted a rezoning application for a site at the Southwest corner of Pender and Richards Streets in Downtown Vancouver.

The site consists of three parcels, a 6-storey parkade at the corner, a 2-storey retail/office building, mid-block on West Pender street, and the Lumbermen’s Building, an 8-storey office and heritage building, to be retained in the new development.

The proposal is to allow for the development of a 32-storey hotel that includes:

  • 578 hotel rooms;
  • 20,000 SF of retail and restaurant space;
  • 44,132 sq. ft. of office space;
  • A total density of 22.81 FSR;
  • A building height of 318 ft.; and
  • 146 vehicle parking spaces and 91 bicycle parking spaces.

The application is being considered under the Downtown Official Development Plan) and Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architect for the project is Henriquez Partners.

March 3, 2023by david.taylor@colliers.com
Apartment, Development, Retail

679 Unit Market Rental Project Envisioned for Joyce-Collingwood Site

Intracorp has submitted a rezoning application for 3362-3384 Vanness Avenue and 3347 Clive Avenue in the Joyce-Collingwood area of East Vancouver.

The proposal is to allow for the development of two rental towers (30 and 33-storeys) above a 6-storey podium. The project includes:

  • 679 market rental residential units;
  • 10% of the residential floor area proposed to be secured at 10% below CMHC City-wide average rates;
  • Retail at grade;
  • Dedication of floor area for a 37-space child care facility;
  • a total density of 11.34 FSR;
  • A total building height of 300 ft.;
  • 214 underground parking spaces and 1295 bicycle parking spaces.

The site is located in the Joyce-Collingwood Precinct Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is Boniface Oleksiuk Politano Architects.

March 3, 2023by david.taylor@colliers.com
Apartment, Development, Retail

Rezoning Proposal for Former MEC Broadway Site Unveiled

Reliance Properties and Quadreal have submitted their long-anticipated rezoning application for the former MEC site at 130 West Broadway. MEC moved into a new purpose built facility on West 2nd Avenue.

The site is owned by Quadreal and Reliance in a 50/50 partnership. Despite having acquired the site over five years ago and originally submitted a rezoning enquiry in 2017, the rezoning application was delayed as a result of the Broadway Plan process.

Located within the Broadway Shoulder Area (East) neighbourhood sub-area of the Broadway Plan, the project site encompasses a significant portion of the south side of the block between Columbia and Manitoba Streets, on West Broadway.

The rezoning proposal is to allow for a two-tower rental apartment complex that includes:

  • two towers, 29 & 28-storeys in height;
  • 524 secured market rental units;
  • Commercial space at grade and on level 2;
  • A 37-space child care facility;
  • A total density of 8.46 FSR;
  • significant rooftop amenity spaces;
  • Building heights of 328 ft. (east tower) and 325 ft. (west tower); and
  • 372 vehicle parking spaces and 1,151 bicycle parking spaces.

The application is being considered under the Broadway Plan.

The architects for the project are NMDA and Arcadis/IBI Group.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/130-w-broadway

February 15, 2023by david.taylor@colliers.com
Development, Office, Retail

CIBT Planning Hotel and Office Complex for Richmond Site

CIBT Education Group has applied to the City of Richmond for permission to rezone a site at 7780, 7800, 7804, 7820 and 7840 River Road in Richmond.

The 77,000 SF site is an assembly of underutilized commercial and industrial parcels. It is designated in the City of Richmond’s OCP as Urban Centre T5, which allows up to 3.0 FAR plus a bonus.

The proposal for the site includes:

  • an 11-storey hotel with 183 guest rooms;
  • an 8-storey office building with retail and restaurant space;
  • 2 ½ levels of underground parking;
  • a total density of 3.23 FAR (232,687 SF);
  • dike upgrades to City’s current standard (15 ft.)

The architect for the project is Urban Solutions Architecture.

January 29, 2023by david.taylor@colliers.com
Apartment, Development, Retail

110 Rental Units Planned for Fraser St. Site

Anthem Properties has submitted a rezoning application for a site sold by our team in 2022 at the Northwest corner of Fraser and East 17th Avenue in East Vancouver.

A portion of the site had a previous development application under the existing C-2 zoning for a 4-storey condo building.

The proposal is to allow for the development of a 14-storey rental apartment building that includes:

  • 110 market rental units (20 units assigned to moderate income households);
    • 25 studios, 33 one-bedrooms & 32 two-bedrooms;
  • 5,035 SF of retail space at grade;
  • A total density of 6.90 FSR;
  • A building height of 156 ft.; and
  • 69 vehicle parking spaces and 213 bicycle parking spaces.

The application is being considered under the Moderate Income Rental Housing Pilot Program (MIRHPP) Rezoning Policy.

The architect for the project is BHA Architecture Inc.

January 18, 2023by david.taylor@colliers.com
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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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