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, Rental

Application Submitted for 21-Storey, 231 Unit Rental Tower at 2225 West 8th Ave

The latest Broadway Plan application is for a site at 2225 West 8th Avenue, near the Northwest corner of West 8th and Yew in Kits. The site is owned by Prospero International Realty and Five Mile Holdings, which own several Broadway Plan sites.

The 23,984 SF site is currently improved with an older 3-storey walkup apartment building. The site is located in the Kitsilano North – Area A – Broadway Plan KKNA subarea of the Broadway Plan which allows for rental towers up to 20-storeys in height, with further height and density for provision of commercial space on the ground floor.

The proposal is a 21-storey rental tower that includes:

  • 231 market rental units;
  • 39 below market units;
  • 4,600 SF of retail space;
  • a total density of 6.80 FSR; and
  • a building height of 224 ft. with additional height for rooftop amenity space.

The application is being considered under the Broadway Plan.

The architect for the project is GBL Architects.

June 8, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Latest Broadway Plan Application Envisions 21-Storey Rental Tower at Burrard & 12th

Greystar has submitted their rezoning application for the 30,400 SF site that they own at 1770 West 12th Avenue, at the Southeast corner of Burrard and 12th.

The site, currently improved with a lowrise strata complex, was acquired by Greystar in 2023 for $41,000,000.

Located in the “South Fairview – Area B (FSOB)” subarea of the Broadway Plan, the site has potential for market and below-market rental housing, up to 20-storeys and 6.5 FSR.

The proposal includes:

  • 243 rental units;
  • 20% below-market rental units;
  • 3,800 SF of retail space;
  • a total density of 6.50 FSR;
  • A building height of 219 ft.

The architect for the project is DIALOG.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1770-w-12-ave

June 6, 2024by david.taylor@colliers.com
Development, Rental

Rental Tower Proposed Near West 2nd & Burrard

A rezoning application has been filed by Steven Yan of Five Mile Holdings, through JTA Development Consultants, for a site 1855 West 2nd Avenue in Kitsilano.

The 18,000 SF mid block site located on the North side of West 2nd just West of Burrard Street. The site is located in a subarea of the Broadway Plan that allows up to 20-storeys for rental.

The plan for the site includes:

  • 171 rental units;
  • 20% below market (approximately 34 units);
  • 5,900 SF of commercial space on the ground floor;
  • A floor space ratio 6.80 FSR; and
  • A building height of 242 ft.

This application is being considered under the Broadway Plan.

The architect for the project is MA+HG.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1855-w-2-ave

May 24, 2024by david.taylor@colliers.com
Development, Rental

23-Storey, 224-Unit Rental Tower Planned for Kitsilano Site

Townline Homes has submitted a rezoning application for a site on West 8th Avenue West of Yew Street in the Kitsilano neighbourhood.

The 18,750 SF midblock site is located in the Broadway Plan in the Kitsilano North – Area A subarea.

The proposal for the site is to allow for the development of a 23-storey rental tower with a 4-storey podium and the conservation of two heritage houses. The proposal includes:

  • 224 rental units;
  • 63 studios, 73 one-bedrooms, 66 two bedrooms & 11 three-bedrooms;
  • 20% below-market rental units;
  • A total density of 7.15 FSR; and
  • A building height of 239 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Francl Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/2226-w-8-ave-and-2415-2421-yew-st

May 24, 2024by david.taylor@colliers.com
Development, Land, Rental

21-Storey Rental Building Slated for Granville & 10th Parking Lot

Reliance Properties has submitted a rezoning application for the sufrace parking lot at 1540 West 10th Avenue, located just West of Granville Street.

The lot has 125 feet of frontage and was acquired as part of the sale of the adjacent office building at 2609 Granville Street in 2017 in a deal valued at $59,000,000.

The current proposal under the Broadway Plan is to allow for the development of a 21-storey rental building that includes:

  • 112 rental units;
  • 20% below market units;
  • a total density of 6.50 FSR;
  • A building height of 226 ft.;
  • 84 parking stalls including 33 replacement stalls for the neighbouring office building.

The architect for the project is Office of McFarlane Biggar.

May 16, 2024by 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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