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.
  • About
  • Listings & Sales
  • Thinking of Selling?
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
Apartment, Development, Retail

Two Marine Drive Tower Projects Seek Final Approval

Two large-scale tower projects on the same block on the North Shore’s Marine Drive go to their respective municipal councils for final approval next week. The first is a rezoning of the former Earls Tin Palace site in West Vancouver. The other project, branded Park West, goes to District of North Vancouver council for development permit approval.


303 Marine Drive 

The formal rezoning application for the former Earls Tin Palace site at 303 Marine Drive in West Vancouver goes to council next week. The site is owned by Darwin Properties.

Darwin acquired the site in 2014 for $20,000,000. An initial rezoning application was filed back in 2015 but was delayed pending completion of the Marine Drive Local Area Plan which was finalized by council in 2017. The site borders the boundary with the District of North Vancouver, and sits close to another two tower proposal going to District for final approval next week called “Park West“.

The proposal for the site, which will be named “The Sentinel” is a 26-storey residential tower that includes:

  • 133 total residential units
    • 91 condo units on levels 9-26 (plus 4 townhouses);
    • 42 rental units on levels 3-8;
    • 20 one-bedrooms; 100 two-bedrooms & 13 three-bedrooms
  • A total density of 3.25 FAR;
  • 201 underground parking spaces;
  • A cash CAC payment of $7,344,140.

 

The application describes the project: “This important ‘gateway’ site presents a unique opportunity to mark the eastern boundary of West Vancouver with a building that contributes to the public realm at the pedestrian scale, and also to the significant distant skyline view as the north shore is approached from the Lions Gate Bridge by car, bicycle or by foot. The existing use on the site is an aging restaurant building and surface parking lot whose tenant will soon be relocating to a new development in Ambleside. This proposed residential development will be architecturally distinctive, and will compliment – and contribute to – the community amenity and infrastructureinvestments planned for the area.

This development will employ a modern, sophisticated and timeless approach to design and material selection that will ensure that this building is distinctive and appropriate to the north shore, and West Vancouver in particular. Landscape treatments and public realm design will enhance the pedestrian and cyclist experience, while the sculpting and lighting of the top of the tower will punctuate distant views of the building.”

The architect for the project is Chris Dikeakos Architects Inc.

The full development application can be viewed here: https://westvancouver.ca/sites/default/files/dwv/council-agendas/2018/apr/23/18apr23-6.pdf


1633 Capilano Road (Park West)

The Grouse Inn redevelopment seeks final development permit approval at District of North Vancouver council next week. The project, branded “Park West”, has been taking pre-registrations via it’s website.

The 2.6 acre site is is located at the north-west corner of Capilano Road and Marine Drive at the entrance to North Vancouver. The site includes a former vacant gas station site, and the existing Grouse Inn Hotel. It was originally rezoned back in 2014 for 280 units but has since been tweaked.

The project, by Pacific Gate Investments, includes two towers, one at 23-storeys and one at 19-storeys, and includes:

  • 258 condo units;
  • 94 one-bedrooms, 140 two-bedrooms, 24 three-bedrooms;
  • a free standing restaurante
  • a grocery store
  • 10 small retail units;
  • a total density of 2.50 FAR;
  • 464 underground parking spaces on two levels;
  • A community amenity contribution of $4,562,500.

The project is being promoted as a resort type project including a 4,800 SF outdoor pool and state of the art amenities.

 

 

The architect for this project is Rafii Architects.

April 13, 2018by david.taylor@colliers.com
Development, Retail

Third Tower for Pearson Dogwood Site Includes 177 Units

Onni Group has applied to the City of Vancouver for permission to develop Parcel C of the Pearson Dogwood site. This is the second development application submitted for the 25 acre rezoned site, with the first being Parcel A, submitted for approval in February.
 
Parcel C is located on the North side of the overall site, on the south side of West 57th between Cambie Street and Heather Street. The plan is for a 27-storey mixed-use building that includes the following:
 
  • 171 market dwelling units;
  • 66 one-bedrooms, 99 two-bedrooms and 5 three-bedrooms;
  • 6 Pearson supportive units;
  • 17,500 SF of retail on Level 1, community health centre on Levels 1-4 and child daycare on Level 4;
  • a building height of 292 ft.;
  • 330,593. sq.ft. of floor area; and
  • four levels of underground parking accessed from a new internal street.

April 10, 2018by david.taylor@colliers.com
Apartment, Development, Retail

203 Units Planned for Park Royal South

A rezoning application has been filed by Larco with the District of West Vancouver for the former Whitespot property at the Southwest corner of Marine and Taylor Way, part of Park Royal South. The rezoning had been proposed several times over the past six years, but was ultimately facilitated by the City’s passage of the Marine Drive Local Area Plan in 2017. The combined 2.3 acre site includes fee simple lands, as well as leasehold lands belonging to Squamish First Nation.

The proposed plan includes two residential buildings as well as commercial space. Details include:

  • two buildings of 11 and 14-storeys in height;
  • 203 total units including:
    • 143 condo units
    • 60 rental units (49 market and 11 non-market);
  • 20,000 SF of retail space (plus 9,800 SF of retail on SFN lands);
  • 3,900 SF of childcare space;
  • a total density of 2.25 FAR;
  • a 3,100 SF public plaza;
  • 251 underground parking spaces.

The architect for the project is DIALOG.

March 30, 2018by david.taylor@colliers.com
Apartment, Development, Retail

47 Rental Units Planned for East Hastings Site

In what seems like a weekly occurrence, another Rental 100 rezoning application has been made for a site on East Hastings Street in East Vancouver.

This rezoning application is for a 12,080 SF site at 2601-2619 East Hastings Street, at the corner of Hastings and Penticton Street. The site is currently improved with lowrise commercial and is zoned C-2C. The proposal is for a 6-storey mixed-use building, consisting of:

    • 47 secured market rental units;
    • 8 studios, 23 one-bedrooms, 12 two bedrooms & 4 three-bedrooms;
    • 6,281 SF of retail space at grade;
    • a total density of 3.75 FSR;
    • a building height of 71 ft.; and
    • 42 underground parking spaces.

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

March 22, 2018by david.taylor@colliers.com
Apartment, Development, Retail

Another Passive House Rental Building Planned for Hastings Heights

Another Rental 100 rezoning application has been submitted in East Vancouver on East Hastings. This is the second passive house multifamily rezoning application, just West of 8th Avenue Development Group’s “The Heights” project, an 85-unit project just completed at the corner of East Hastings and Skeena.

This application for 3435 East Hastings Street, between Cassiar and Skeena Street calls to rezone the 11,366 SF mid-block subject site from C-2C1 to permit the development of a 6-storey rental residential building. The proposal includes:

    • 45 secured market rental units;
    • 13 studios, 16 one-bedrooms, 10 two-bedrooms & 6 three-bedrooms;
    • 2,712 SF of retail space at grade;
    • a density of 3.14 FSR;
    • a building height of 68 ft.; and
    • 28 underground parking spaces.

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

The architect for the project is Cornerstone Architecture.

March 15, 2018by david.taylor@colliers.com
Page 60 of 98« First...102030«59606162»708090...Last »

Thinking of selling?

I track every commercial sale in Metro Vancouver. If you're wondering what your property is worth, I can give you an informed view.

Get an Opinion of Value

David Taylor · Colliers · 604-761-7044

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


David Taylor Personal Real Estate Corporation

Colliers International

DT

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.

© 2019 Copyright  |  All Rights Reserved