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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Condo, Development, Retail

6-Storey Building Slated for Grandview Woodland Site

Cape Group has submitted a rezoning application for a four lot land assembly at the Southwest corner of Nanaimo and Charles Street in the Grandview Woodland area of East Vancouver. The application for 2336-2366 Charles Street calls to rezone from RT-5 and C-1 CD-1 (Comprehensive Development) District to allow a 6-storey mixed-use building, including:

  • 64 condo units;
    • 32 one-bedrooms, 24 two-bedrooms & 9 three-bedrooms.
  • 8,234 SF of ground floor retail;
  • a total density of 3.2 FSR;
  • a maximum building height of 74 ft.; and
  • 64 underground parking spaces and 133 bicycle spaces.

 

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

The architect for the project is Human Studio Architecture + Urban Design. 

April 18, 2019by david.taylor@colliers.com
Investment, Retail

FOR SALE: Fully Leased East Vancouver Retail Property

We are pleased to introduce this 5,005 SF retail property in East Vancouver. Please contact us for further details.

April 17, 2019by david.taylor@colliers.com
Apartment, Development, Retail

212 Rental Units Planned for East Hastings Block Under MIRHPP

Two rezoning applications have been submitted by PCI Group for two separate sites that bookend the 3600 Block of East Hastings Street near the Burnaby border in the City of Vancouver.

The applications seek two 14-storey rental apartment towers under the Moderate Income Rental Housing Pilot Program, which allows rezoning to higher densities in exchange for 20% of the density designated for moderate income households.

3680 East Hastings Street was sold by our team in 2018.

The details of the two proposals are as follows:

3600 East Hastings Street (at Kootenay Street)

  • 94 rental units;
  • 8,036 SF of retail at grade;
  • a total density of 7.10 FSR;
  • a building height of 158.2 ft.; 
  • 41 underground parking spaces and 125 bicycle spaces.

3680 East Hastings Street (at Boundary Road)

  • 118 rental units;
  • 10,461 SF of retail space at grade;
  • a total density of 6.90 FSR;
  • a building height of 164.4 ft.; 
  • 57 underground parking spaces and 156 bicycle spaces.

The architect for the project is BHA Architecture.

April 12, 2019by david.taylor@colliers.com
Apartment, Development, Office, Retail

Renovation of Vacant Downtown Building to Include Retail, Office & Apartment Uses

A development application has been filed to rehabilitate a vacant commercial building in the Crosstown area of Vancouver. The existing 4-storey commercial building at 41 West Pender was previously used as a warehouse for a nearby department store and has been vacant for several years.

This proposal is to add two storeys of woodframe secured rental residential to the existing building, while maintaining office and retail uses in teh existing building. The
current zoning (DD-C2) allows for 5.0 FSR, with an additional 1.0 FSR permitted if all Residential is Secured Market Rental. The existing lot is 50 x 120.

Details include:

  • 5,872 SF of retail uses on ground floor;
  • 18,515 SF of office use on levels 2-4;
  • 9,511 SF of residential uses on 5 & 6;
  • 16 market rental units (all studios);
  • an amenity roof patio;
  • a building height of 97 feet;
  • a total density of 5.65 FSR (including Transferable Heritage Density); 
  • two parking stalls accessed from the lane.

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The application describes the building program: “The existing building is a hybrid of concrete, concrete block, steel frame with solid wood joists with concrete topping. The facade is cast in place concrete, front and back, with composite masonry block firewalls. This solid building has good potential for renovation which is not only sustainable but can allow for its occupation in shorter timelines than full demolition and rebuild. The Structural Engineers were consulted from the outset and have provided the parameters of what is and what is not possible with existing structure.

For the proposal to be feasible the renovation hinges on retaining the bulk of the primary structure and adapting the fabric to meet the new use and codes with new shared stair and elevator core. The two levels of residential need to be constructed of light wood frame.”

The architect for the project is Metric Architecture.

April 10, 2019by david.taylor@colliers.com
Development, Retail

Mixed-Use Building Proposed to Replace Part of Burnt Down Kits Site

A development application has been filed for a 50 lot which was part of a multiple building fire in Kits in July 2018. The site, formerly occupied by Euro-Line Appliances, is the Western 50 ft. lot and has been sitting vacant since that time.
 
The new development, entitled ‘The Highbury’ envisions a three-and-a-half -storey mixed-use building with residential above retail under the site’s C-2 zoning, having vehicular access from the lane. The proposal includes the following:
 
  • 4 residential units;
  • 3,175 SF of retail in two CRUs;
  • a total density of 2.33 FSR;
  • a building height of 45 ft.
  • four parking spaces at the lane.

Under the site ’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is BURO47 architecture inc.

April 4, 2019by 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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