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

Construction Update: 245 East Georgia

Here is a construction update on an interesting infill project in Chinatown that was approved under the Rental 100 program in 2013. 245 East Georgia St. is a 9-storey apartment being built on a 25-foot lot. As described on Gair Williamson Architect’s website:

“The design is for 40 studio apartments ranging in size from 320 to 360 square feet and a commercial unit at the ground level. All units have floor to ceiling glazing with either juliet windows or a balcony, there is also a communal roof deck providing opportunities for urban agriculture.”

There will also be retail on the ground floor.

68XTFEPhoto courtesy mcminsen http://po.st/GUBcQ6 via @imageshack

AJPvwVPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

G4lGGSPhoto courtesy mcminsen http://po.st/etb2h9 via @imageshack

static1.squarespace.comhttp://www.gwarchitects.ca/245-east-georgia-street/q9o9orelcnkzsotggn08ksgz4aniul

The site was sold by Colliers in 2012 for $1,150,000.

March 8, 2016by david.taylor@colliers.com
Development, Office, Retail

Construction Update: Solo District

Here is a construction update on the second phase of Appia’s Solo District project in the Brentwood Area of Burnaby.

The first phase of the project included a tower branded ‘Stratus’, a 367-unit 45-storey tower which has just recently completed and which is substantially sold out. Burnaby’s first Whole Foods is an anchor of the retail component of the project.

The second phase of the project is ‘Altus’, a 48-storey tower at the corner of Lougheed and Willingdon that includes 284 condo units above 250,000 SF of office space on 12 floors. Pre-sales launched in 2013 and this phase of the project is also nearing sell-out.

Solo District Feb 2016 (1)

photo courtesy mcminsen http://po.st/RDvsVU via @imageshack

Solo District Feb 2016 (3)

photo courtesy mcminsen http://po.st/avE0BU via @imageshack

Solo District Feb 2016 (2)

photo courtesy mcminsen http://po.st/ut93EP via @imageshack

February 24, 2016by david.taylor@colliers.com
Development, Retail

19-Unit Building Proposed for Kingsway

A development application has been filed for a C-2 zoned site at 900 Kingsway, at St. Catherine’s Street, in East Vancouver. The plan, tentatively titled “Kensington Views”, is for a 4-storey building with:

  • 19 condo units (6 one-bedrooms, 8 two-bedrooms and 5 three-bedrooms)
  • 3,774 SF of retail space
  • one level of underground parking
  • a total density of 2.50 FSR

900 Kingsway_2900 Kingsway 900 Kingsway_1The architect for the project is Cornerstone Architecture.

February 23, 2016by david.taylor@colliers.com
Development, Retail

50-Unit Building Planned for Mount Pleasant

Port Living is planning to replicate the success of their Midtown project with another project nearby. They have filed a development application for a C-2C zoned site at 630 East Broadway, near Carolina Street. The proposed plan, tentatively titled “Midtown 2”, includes:

  • a 4-storey building
  • 50 residential units (35 studios and 14 one-beds)
  • a density of 3.0 FSR
  • 2 ground floor retail units
  • 2 levels of underground parking

630 East BroadwayThe architect is Studio B Architects.

February 18, 2016by david.taylor@colliers.com
Development, Investment, Retail

Burrard & West 3rd Site Sells in $15MM Deal

A strip retail centre at Burrard Street and West 3rd Avenue in the Kitsilano area of Vancouver has sold for $15,000,000, which equates to $414 per buildable SF. The site is zoned C-3A and is 12,076 SF. Existing tenants in the property include Starbucks and Allwest Insurance. There is no information available at this time about any future redevelopment plans.

1855 Burrard

February 18, 2016by david.taylor@colliers.com
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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.

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