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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Development

Courtyard Townhouse Project Planned for Marpole

An application for a unique 3-storey courtyard townhouse project has been made for a site at West 64th Avenue near Columbia Street in Marpole. The site is an assembly of two large and deep single family lots that were assembled in 2014. Recently rezoned to RM-9 under the Marpole Community Plan, the site is allowed to go to 4-storeys, though the applicant is proposing 24 3-storey townhouses with a courtyard and common underground parking.

The architect, Bryce Rositch of Rositch Hemphill Architects summarizes the application by saying: “We believe that this development, its smaller scale of buildings, ground orientation, predominant three storey height, the use of good materials including generous amounts of brick, outdoor patios on both sides of each townhouse plus additional balcony spaces at upper levels will be a model for future development in this area.”

344 West 64th 344 West 64th_1 344 West 64th_2

June 30, 2015by david.taylor@colliers.com
Development

Construction Update: Chinatown

IMG_6369Photo courtesy 604City on Flickr.

June 23, 2015by david.taylor@colliers.com
Apartment, Development

New Rental Apartment Tower Planned For Davie Street

Reliance Properties has applied to the City of Vancouver for permission to develop the Northeast corner of Bidwell and Davie with a 22-storey secured market rental building with commercial retail units at grade. The site is 12,970 SF and is zoned C5-A, therefore it does not require rezoning but is a conditional approval that requires the decision of the Development Permit Board. The West End Community Plan includes design guidelines that facilitated this proposal, which includes:

    • 108 residential units (all secured market rental);
    • total gross floor area of 102,927 SF, including 5,000 SF of commercial retail;
    • Total density of 7.4 FSR
    • 77 underground parking spaces on 4 levels
    • Replacement of 12 existing rental units and older commercial space

1188 Bidwell 1188 Bidwell_1 1188 Bidwell_2 1188 Bidwell_3

More information on the development application can be found here.

June 22, 2015by david.taylor@colliers.com
Investment, Retail

Prime Kerrisdale Retail Building Sells

A Kerrisdale retail building that was previously on the market for $4,980,000 has sold for $5,090,000. More commonly known to locals as the old Finn’s of Kerrisdale, the 5,081 SF building at 2159 West 41st Avenue sold for over $1,000 per SF to Yuan Fan International Group Inc. The property is zoned C-2 and is located in the heart of Kerrisdale’s 41st Ave retail stretch. This is not a record value for a Kerrisdale investment property; several buildings have traded for well over $1,000 per SF in the past few years.

2159 West 41st Ave

A leasing brochure indicates that the new owner plans to renovate the building. Half of the retail has already been leased and the other unit is available for lease for $50.00 per SF.

June 18, 2015by david.taylor@colliers.com
Development

Infill Condo Building Planned for Mount Pleasant

A development application has been submitted for a land assembly in Mount Pleasant. The plan is for a new 3-storey condo building while preserving and restoring the existing 4-unit building at 547 East 16th Avenue that was built in 1912. The site is 15,117 SF, and is zoned RM-4. Details include:

  • Density of 1.45 FSR
  • Total of 21 units (17 new units and 4 in existing building)
  • 21 underground parking spaces
  • Total building height of 35.1 ft

549 East 16th 549 East 16th_1

 

June 16, 2015by 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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