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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Condo, Development, Rental

Proposal for Langara YMCA Site Envisions Two Towers, 665-Units

Musqueam Capital Corporation, in partnership with YMCA BC and Townline have submitted a rezoning application for the redevelopment of the 2-acre Langara YMCA property at 282 West 49th Avenue.

The proposal is for a mixed-use development with a condo tower, a market rental tower, and a lowrise affordable hosing building. Overall, the project includes:

  • 308 market rental units;
  • 269 condo units;
  • 88 social housing units;
  • 1,900 SF of retail space;
  • A 32,000 SF replacement YMCA facility with associated childcare;
  • a total density of 6.66 FSR;
  • A maximum building height of 400 ft.

The application is being considered under the Cambie Corridor Plan and the Transit-Oriented Areas Rezoning Policy.

The architect for the project is Boniface Oleksiuk Positano Architects.

The full application can be viewed here: https://www.shapeyourcity.ca/282-w-49th-ave

September 13, 2024by david.taylor@colliers.com
Development, Rental, Retail

Westbank Submits Application for Rental & Social Housing Towers on East Hastings Sites

Westbank, in partnership with Promerita and BC Housing have submitted a rezoning application for three non-contiguous sites in the 1000 and 1100 Block of East Hastings Street in the Downtown Eastside area of Vancouver.

The sites are located at 1030-1070 East Hastings, 1115-1127 East Hastings and 1168-1180 East Hastings.

The City of Vancouver has received an application to rezone the subject site from M-1 to CD-1 to allow the development of three towers and 924 units on these sites:

  • Two rental towers, 39 & 38-storeys (767 market rental units)
  • A 19-storey seniors housing tower to be owned by BC Housing;
  • Commercial space on the ground floor;
  • A total density of 23.3 FSR.

The application is being considered under the Downtown Eastside Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is ZGF Architecture.

The full application can be viewed here: https://www.shapeyourcity.ca/1030-1070-e-hastings-st

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

West End Condo Project Revised as Rental Tower

PC Urban has submitted a rezoning application for a rental tower at 1150 Barclay Street. The site was originally envisioned for redevelopment as an 11-storey, 21-unit condo project, but did not move forward.

The site is 11,925 SF and the existing building is a 3-storey co-op with 19 units.

The new proposal is to allow for the development of a 20-storey rental building that includes:

  • 152 rental units (20% below market);
  • Community space on the ground floor;
  • A total density of 9.10 FSR;
  • A building height of 193 ft. with additional height for rooftop amenity space.

This application is being considered under the West End Community Plan.

The architect for the project is MCM Architects.

September 1, 2024by david.taylor@colliers.com
Apartment, Rental

20-Storey Broadway Plan Proposal Includes Heritage Retention

Fiera Real Estate has submitted a rezoning application for 1375-1395 West 14th Avenue, Vancouver, B.C. in the South Granville area of the Broadway Plan.

The proposal is to allow for the development of a 20-storey rental building with heritage retention and includes:

  • 203 rental units (20% below market);
  • Retention of The Grange heritage building (Vancouver Heritage Register Category ‘C’);
  • a total density of 7.20 FSR;
  • A building height of 233 ft.

This application is being considered under the Broadway Plan.

The site includes a heritage building at 1395 W 14th Ave, and as such, the City’s Heritage Program and Heritage Policies apply. The application proposes retention of the street façades along Hemlock St and W 14th Ave; and, rehabilitation of the overall site and structure for what was originally built as The Grange (Vancouver Heritage Register Category ‘C’).

The architect for the project is SHAPE Architecture.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/1375-1395-w-14th-ave/application-booklet.pdf

August 28, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Latest Broadway Plan Tower Application is for 18-Storey Tower at Yukon & 14th

A rezoning application has been submitted for an 18,563 SF, three lot land assembly at the Southwest corner of Yukon & West 14th in the Cambie Village area of Vancouver.

The site is located in the Mount Pleasant RT Area (MRTB) of the Broadway Plan.

The proposal is to allow for the development of a 18-storey rental building and includes:

  • 134 units with 20% below-market;
  • a total density of 5.50 FSR;
  • A building height of 197 ft.

This application is being considered under the Broadway Plan.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/426-428-w-14-ave-and-3015-3027-yukon-st

The architect for the project is Stuart Howard Architects.

August 21, 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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