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, Retail

128-Unit Rental Building Proposed for Downtown Site

A rezoning application has been submitted by Pacific Reach Properties for a site they own at 314-328 West Hastings Street in Downtown Vancouver.

The site is currently comprised of three older lowrise commercial buildings.

The proposal is to allow for the development of a 12-storey mixed-use, rental apartment building that includes:

  • 128 market rental units;
    • 87 studios, 5 one-bedrooms, 15 two-bedrooms & 21 three-bedrooms;
  • 4,300 SF of retail space at grade;
  • A total density of 8.16 FSR;
  • A building height of 105 ft.;
  • 8 vehicle parking spaces and 279 bicycle parking spaces.

The application is being considered under the Downtown Eastside Plan and the Rezoning Policy for the Downtown Eastside.

The architect for the project is Pacific Atelier Architecture.

June 1, 2022by david.taylor@colliers.com
Apartment, Development, Retail

33-Unit Rental Building Slated for East Van Site

A rezoning application has been submitted for a long-vacant property at the Southeast corner of Clark Drive and East 12th Avenue in East Vancouver.

The proposal for 1302-1318 East 12th Avenue is to allow for the development of a 6-storey mixed-use building that includes:

  • 33 rental units;
  • 4,600 SF of retail space;
  • a total density of 3.0 FSR;
  • A building height of 66 ft;
  • 29 vehicle parking spaces and 56 bicycle parking spaces.

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

May 30, 2022by david.taylor@colliers.com
Condo, Development, Office, Retail

7-Storey Condo Building Pitched for Lower Lonsdale Site

Staburn Group have submitted a rezoning application for a 12,000 SF site at 119-123 East 2nd Street in the Lower Lonsdale area of North Vancouver. The site is currently improved with two small commercial buildings.

The site is designated Mixed Use Level 4A (High Density) (MU4A) in the Official Community Plan. This designation allows for a mix of commercial and residential use with a maximum density of 3.6 FSR (including 1.0 bonus FSR) and a maximum height of 8-storeys.

The proposal envisions a 7-storey condo building with commercial uses on the ground floor.

Details include:

  • 28 condo units;
    • 5 one-bedrooms, 14 two-bedrooms & 9 three-bedrooms;
  • 3,466 SF of office space;
  • 3,563 SF of retail space;
  • a total density of 3.60 FSR;
  • 48 underground parking spaces.

The architect for the project is RHA Architects.

April 29, 2022by david.taylor@colliers.com
Condo, Development, Retail

90 Condo Units Planned for North Van Site

Polygon has submitted a rezoning application to the City of North Vancouver for a site they own at 818-858 West 15th Avenue, near the intersection of Marine Drive and Fell Avenue.

The site is located mid-block on the North side of West 15th Street and is currently improved with an older single-storey commercial building.

The site is designated Mixed Use Level 2 in the Official Community Plan. This designation allows for a mix of commercial and residential uses with a maximum density of 2.5 FSR (including 0.5 bonus FSR).

The proposal is a 6-storey condo building with retail at grade. Details include:

  • 90 condo units;
    • 65 one-bedrooms, 15 two-bedrooms & 10 three-bedroooms;
  • 11,000 SF of retail space;
  • a total density of 2.50 FSR;
  • 129 parking stalls.

The architect for the project is SHIFT Architecture.

April 29, 2022by david.taylor@colliers.com
Condo, Development, Office, Retail

Condo Tower Planned For North Vancouver Site

Polygon has submitted their rezoning application to develop the site that they own at 114-132 West 15th Street in the Central Lonsdale area of North Vancouver. The 25,206 SF site is currently improved with two older lowrise commercial buildings.

The site is designated Mixed Use Level 4B (High Density) in the Official Community Plan. This designation allows for a mix of higher-density multi-family and commercial uses with a maximum density of 4.0 FSR (including 1.0 bonus FSR). A further density transfer is proposed.

The application proposes a 22-storey mixed-use building, with two levels of commercial including retail and services at ground level, office commercial uses at level two, and 20 storeys of condo units above.

The proposal includes:

  • 136 condo units;
    • 38 one-bedrooms, 77 two-bedrooms & 21 three-bedrooms;
  • 7,452 SF of ground floor retail space;
  • 16,985 SF of 2nd floor office space;
  • a total density of 7.05 FSR;
  • 198 underground parking spaces.

The proposal includes 76,993 SF of density transferred from the Harry Jerome lands owned by the City. The purchase of the density comes at a price of $19,248,250 or $250 per SF.

The architect for the project is IBI Group.

April 24, 2022by 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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