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, Development, Retail

10-Storey Building Planned for Broadway near Commercial

A second major rezoning application has been submitted in Grandview-Woodland, just weeks after 149 units were announced earlier this month at Victoria & 11th.

Jameson Development Corp. has submitted an application to rezone a 15,738 SF site on the North side of Broadway just West of commercial at 1619-1651 East Broadway. The rezoning will be from the existing RM-4N zone to CD-1 to permit the development of a 10-storey mixed-use building.

The proposal includes:

    • 93 total units (47 market rental units and 46 market strata units);
    • 5,245 SF of ground floor retail space;
    • A total density of 4.00 FSR;
    • A height of approximately 32.3 m (105.8 ft.);
    • 75 underground parking spaces; and
    • 117 bicycle parking spaces.

1619 East Broadway_3 1619 East Broadway_2 1619 East Broadway_1 1619 East BroadwayThis application is being considered under the Grandview-Woodland Community Plan. The rezoning policy allows for ‘mixed-tenure’ whereby 50% strata is allowed if the other 50% of the units are secured rental.

The architect for the project is IBI Group.

June 30, 2017by david.taylor@colliers.com
Development, Retail

Fourth Amazing Brentwood Tower to Include 506 Units

Shape Properties has submitted their rezoning application for Tower 5 of the Amazing Brentwood project. The tower is actually the fourth to be rezoned, with the first three towers now sold out and under construction.

This tower will be located at the Northeast corner of Willingdon Avenue and Halifax Street. Details include:

  • A 51-storey tower located above a 2-storey commercial podium
  • 506 condo units
  • 287 one-bedrooms, 190 two-bedrooms, 27 three-bedrooms & 2 four-bedrooms
  • 11.21 FAR (on net site)
  • 37,542 SF of commercial space
  • 673 parking stalls

Amazing Brentwood_1Once this phase is complete, the four towers will represent almost 2,000 units.

June 26, 2017by david.taylor@colliers.com
Apartment, Development, Retail

55-Unit Rental Building Planned for Rupert Street Site

A rezoning application has been submitted for a new rental apartment building for a site at the Southwest corner of Rupert Street and East 22nd Avenue; just down and across the street from a Rental 100 project, currently in final stages of rezoning approval. The site is currently improved with an older single-storey retail building.

The plan for the site at 3281-3295 East 22nd Avenue is to rezone from the existing C-1 commercial zoning to CD zoning to allow a 6-storey mixed-use project.

The application includes the following:

    • 55 market rental units;
    • 14 studios, 16 one-bedrooms, 18 two-bedrooms & 7 three-bedrooms;
    • 6,888 SF of ground floor retail space;
    • A total density of 3.03 FSR;
    • A building height of 72 ft.; and
    • 43 underground parking spaces.

3281 E 22nd3281 E 22nd_23281 E 22nd_3The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is Cornerstone Architecture.

June 12, 2017by david.taylor@colliers.com
Development, Office, Retail

540-Units Planned for North Road Site

Onni has submitted their formal rezoning application for a site at 3249-3355 North Road on the Burnaby side of North Road in the Lougheed Town Centre area plan. The site sits immediately north of Shape’s City of Lougheed project.

The 151,116 SF site is comprised of a 1980’s era strip mall with office space, as well as a vacant lot. The plan for redevelopment of the property includes:

  • A 32-storey north condo tower & 36-storey south condo tower
  • A 14-storey office building with 160,000 SF of office space;
  • A 2-storey commercial podium fronting North Road;
  • 17,000 SF of retail space;
  • 540 total units;
  • 110 studios, 171 one-bedrooms, 196 two-bedrooms & 63 three-bedrooms;
  • A total density of 4.88 FAR;
  • A pedestrian plaza at the corner of North Road and Cameron Street
  • 1,100 parking space on 4 levels of underground parking.

3249 North Rd

May 29, 2017by david.taylor@colliers.com
Apartment, Development, Retail

Rental 100 Project Planned for Main & 51st Corner

SKA Property Inc. has submitted a rezoning application under Rental 100  for a 7,712 SF site at the corner of Main and 51st Avenue in the Punjabi Market neighbourhood. The site is currently home to an older 3-storey building that is vacant.

The plan for the site at 6679 Main Street is to rezone from the existing C-2 zoning to allow a 6-storey mixed use building with commercial space at grade, including:

  • 28 rental apartment units;
  • 2 studios, 13 one bedrooms, 9 two bedrooms and 4 three-bedrooms;
  • 3,071 SF of ground floor retail space;
  • a total density of 3.62 FSR;
  • a building height of 70 ft.; and
  • 28 vehicle parking spaces.

6679 Main 6679 Main_16679 Main_36679 Main_2The application notes that the developer’s team are East Indian and intend on using the ground floor for their family business: a vegetarian grocery store.

The application is being considered under the Secured Market Rental Housing (R100) Policy.

The architect for the project is F. Adab Architects Inc.

May 24, 2017by 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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