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

Lynn Valley Grows Up in Height

District of North Vancouver council adopted a plan for future development in Lynn Valley Town Centre Monday night that allows for building heights of between eight and 12 storeys to be considered in key locations.

Council unanimously passed the plan that calls for most building heights to be limited to five storeys, but allows up to eight storeys on several “strategic” parcels, including land on the north side of East 27th Street between Lynn Valley Road and Mountain Highway and two blocks that abut the corner of Kirkstone Park.

Council will also consider buildings up to 12 storeys on a “case by case” basis. The decision Monday night came after a long and emotional process, which has seen residents split on what kind of density and height they’d like to see in the centre of Lynn Valley.

Prior to the vote Monday, a number of residents spoke both for and against the plan for increased density.

Read more: http://www.nsnews.com/news/lynn-valley-grows-up-in-height-1.656180#sthash.PSLtDTMq.dpuf

October 15, 2013by david.taylor@colliers.com
Apartment, Investment

The Wenonah Building at Main & East 11th Sold

The Wenonah Building, a heritage apartment building at East 11th Ave and Main Street has sold for $6,500,000 or $342,000 per unit. The building, built in 1913, also contains some retail on the ground floor. The lot size is 8,480 SF.

2703 Main

 

October 8, 2013by david.taylor@colliers.com
Apartment, Development, Retail

Revised Oakridge Centre Proposal Moves Closer to Public Hearing

A revised rezoning application has been presented for Westbank and Ivanhoe Cambridge’s plan to rezone and redevelop the 28-acre Oakridge Centre property. This is expected to be the last round of formal open houses for the rezoning before the proposal heads to the Urban Design Panel and then on to Public Hearing.

Proposed changes from 2012 version:

oakridge_1Oakridge Height Changes

Oakridge Height Changes

Oakridge_retail

Aerial View Looking North
Entrance Promenade (41st and Cambie)
Centre Court

Looking west along West 41st Ave
Oakridge Community Commons View

October 4, 2013by david.taylor@colliers.com
Development

Delta Rise Tower Unveiled in North Delta

What will Delta Rise, the municipality’s tallest tower, look like?

Politicians and journalists were given a sneak peek Wednesday at an architect’s model of the building, as well as a tour of two styles of suites the 37-storey building will contain.

blexoThe Blexo Developments Ltd. project won Delta council’s approval earlier this year and construction is expected to begin next June and be completed in 2016.

The apartment building project, just south of the Delta Shoppers Mall off Scott Road, will be located at 11941 80th Avenue and will be the community’s tallest building by far. Three 14-storey buildings currently share that distinction in North Delta. One is at 88th Avenue and 119th Street and the other are two across the street from where this new apartment building containing 317 suites will be built.

See more at: http://www.thenownewspaper.com/news/delta-rise-tower-unveiled-in-north-delta-1.646497#sthash.1b9MSgLK.dpuf

October 3, 2013by david.taylor@colliers.com
Market Research

Bank of Canada May Not Hike Interest Rates Until 2016: Scotiabank

How long for the Bank of Canada?
Bank of Nova Scotia economists are now raising the possibility of no move in the Bank of Canada’s benchmark interest rate until 2016.

Other observers have speculated on late next year or early in 2015 for the first rate hike by the central bank.

The Bank of Canada’s benchmark overnight rate now stands at just 1 per cent.

“The BoC probably now envisages spare capacity remaining into 2016,” the Scotiabank economists said, adding the central bank now projects hitting its 2-per-cent target for annual inflation in mid-2015.

They believe the Bank of Canada may change that forecast, to an even later date, when [it] meets later this month and also issues its monetary policy report.

Read more: http://www.theglobeandmail.com/report-on-business/top-business-stories/bank-of-canada-may-not-hike-interest-rates-until-2016-scotiabank/article14675055/

October 3, 2013by david.taylor@colliers.com
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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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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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