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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Apartment, Retail

573-Unit Rental Project Envisioned for SW Marine Drive Site

Chard Development has submitted their rezoning application for the Denny’s site at 622 SW Marine Drive in Marpole.

The proposal calls for the development of two towers at 28 and 32 storeys on top of two 6-storey podiums separated with a mid-block break. The proposal includes:

  • 573 market rental units w/ 20% of floor space allocated to below-market rental;
  • Market rental: 56 studios, 241 one-bedrooms, 153 two-bedrooms & 6 three-bedrooms;
  • Below market: 54 studios, 21 one-bedrooms, 36 two-bedrooms & 6 three-bedrooms;
  • 35% of the below-market rental floor space provided as social housing operated by the YWCA;
  • A total density of 6.68 FSR;
  • 16,700 SF of ground floor retail space;
  • 7,100 SF of second floor daycare space;
  • A building height of 335 ft.;
  • 276 vehicle parking spaces and 1096 bicycle parking spaces

The proposal also includes 35% of the below market units as social housing operated by the YWCA.

The application is being considered under the Marpole Community Plan and the Ashley Mar Issues Report (February 11, 2020).

The architect for the project is MCMP Architects.

Chard acquired the site through Colliers in December 2020 for $68,138,000, or $142 per buildable SF based on the gross density in the rezoning application.

January 13, 2021by david.taylor@colliers.com
Apartment, Development, Retail

6-Storey Mixed-Use Building Pitched for Kerrisdale Site

A rezoning application has been submitted for a site in Kerrisdale that was sold by our team in 2018.

The 15,310 SF site at the Northwest corner West 41st Ave and Maple Street burned down in a fire in 2017 and has sat vacant since.

The rezoning proposal calls for the development of a new 6-storey mixed-use building that includes:

  • 42 market rental units;
  • 6,800 SF of ground floor retail space;
  • 10,000 SF of daycare space on the 2nd floor;
  • 7,400 SF of co-tutor space on the 3rd floor;
  • Commercial retail units at grade;
  • A total density of 3.50 FSR;
  • A building height of 71 ft.;
  • 47 vehicle parking spaces and 65 bicycle parking spaces.

The application is being considered under the Secured Market Housing Policy (Rental 100).

The architect for the project is M Moser Associates in partnership with Gustavson Wylie Architects.

January 12, 2021by david.taylor@colliers.com
Apartment, Investment, Retail

SOLD: West Vancouver Investment Property

We are pleased to announce the successful sale of 6605 Royal Avenue in the Horseshoe Bay Village area of West Vancouver. The property consists of a residential unit above four retail units, all located on a 6,020 SF site.

Please contact me for further details on this off-market transaction.

January 11, 2021by david.taylor@colliers.com
Apartment, Development, Retail

Proposal Submitted for 49-Unit Rental Building

Peterson Group have submitted a rezoning application for a site at 1375-1379 Kingsway.

The 12,010 SF C-2 zoned site is located on the south end of a triangular-shaped block at the corner of Kingsway and Knight Street.

The proposal is to allow for the development of a new 6-storey rental building. Details include:

  • 49 market rental units;
  • 20 studios, 11 one-bedrooms, 15 two-bedrooms & 3 three-bedrooms;
  • 5,900 SF of retail space;
  • A total density of 3.80 FSR;
  • A building height of 79 ft.;
  • 34 vehicle parking spaces and 98 bicycle parking spaces.

The application is being considered under the Secured Market Housing Policy (Rental 100).

The architect for the project is Yamamoto Architecture.

The site was acquired in 2018 for $8,250,000, or $173 per buildable SF based on the application.

January 8, 2021by david.taylor@colliers.com
Apartment, Development, Retail

150-Unit Rental Building Planned for East Hastings

A rezoning application has been submitted for a site at the Northwest corner of East Hastings and Penticton Street in East Vancouver, currently occupied by London Drugs and an adjacent vacant lot being used as a community garden.

The application is by Hastings Sunrise Development Ltd., a company with the same address as London Drugs’ head office.

The 39,601 SF site at 2585 East Hastings Street has 320 ft. of frontage on the North side of Hastings, more than half a city block, and is currently zoned C-2C. The proposal is to allow for the development of a 6-storey mixed-use building that includes:

  • 150 market rental units;
  • 45 studios, 59 one-bedrooms & 46 two-bedrooms;
  • 29,800 SF of retail space at grade including a new London Drugs store;
  • A total density of 3.54 FSR;
  • A building height of 72 ft.;
  • 147 vehicle parking spaces and 315 bicycle parking spaces.

The application is being considered under the Secured Market (Rental 100) Housing Policy

The architect for the project is Rositch Hemphill.

December 22, 2020by 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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