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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Development

Plan Emerges for Plaza of Nations Site

Plans to redevelop the Plaza of Nations have moved from public consultation in 2011 to formal application with an application to amend the existing CD-1 District By-law for the site.

The proposed amendment would allow 1.4M sq ft of residential, 350,000 sq ft of commercial, and 57,000 sq ft of community centre uses, with a total density of 3.9 FSR. The residential use will provide 1,700 to 2,000 residential units. The commercial use will provide retail, office, hotel, restaurants, and cafes. The community centre and associated uses include a daycare for 69 children, an ice rink which would provide a practive venue for the Vancouver Cancucks, and sports science centre. All required parking will be below grade. The buildings will vary in height and be up to a maximum of 30-storeys to meet view cones.

More information can be found here.

Source: City of Vancouver
July 4, 2012by david.taylor@colliers.com
Office

OPEN HOUSE: 320 Granville Street

The City of Vancouver is holding an open house for 320 Granville Street, a proposed 32-storey office building with a density of 25.5 FSR and 380,000 sq. ft.

The Open House will be a “drop-in” event where you can view the proposal. City staff and the applicant team will be available to answer your questions and receive your comments.

Community Open House
Date: Thursday, July 12, 2012
Time: 5 – 8 pm
Place: The Landing (atrium)
375 Water Street

July 3, 2012by david.taylor@colliers.com
Development

High-rise development aims to make Kingsway Avenue a residential hotspot

High-rise development aims to make Kingsway Avenue a residential hotspot.

East Vancouver’s Kingsway Avenue has long been known for its steady stream of auto dealerships, strip malls, fast-food restaurants, cut-rate motels and as a quick route to somewhere else.

That’s changing.

In what’s regarded by many as part of the area’s renaissance, a 12-storey condominium tower in the 2700-block of Kingsway is now being marketed as part of a city plan to take advantage of the Norquay neighbourhood’s central location and turn it into a more people-friendly place emphasizing higher densities, newer shops and services, wider sidewalks and other public amenities.

Skyway Towers, the first highrise development under the Norquay Village Neighbourhood Centre Plan, is a 130-unit project that includes nine commercial units to be built on the site of the old Wally’s Burgers.

It includes two buildings – the 12-storey tower and a four-storey building – with a 13-metre-wide breezeway between them.

Read more: http://www.vancouversun.com/business/commercial-real-estate/High+rise+development+aims+make+Kingsway+Avenue+residential+hotspot/6872883/story.html#ixzz1zZW6H2fR

July 3, 2012by david.taylor@colliers.com
Development

151 West Hastings Street, Vancouver Sold

Steve Fame and Casey Weeks of Colliers International have sold the Asia Imports Building at 151 West Hastings Street for $6,500,000 to Century Group.

The building, formerly known as the Ormidale Block, is a 4-storey office building half a block East of Victory Square and directly across from the Woodward’s building.

June 30, 2012by david.taylor@colliers.com
Development

Madison Pacific Properties Inc. Announces Resignation of CEO

Madison Pacific Properties Inc. Announces Resignation of CEO.

VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 27, 2012) – Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the “Company”) a Vancouver-based real estate company announced today that Alan Firth, its President and Chief Executive Officer, has tendered his resignation in order to pursue other interests. Mr. Firth will continue as Acting President and Chief Executive Officer until the Company concludes a search for a qualified replacement to ensure a smooth transition.

“Over the past 7 years, Alan has been instrumental in Madison Pacific’s growth and I thank him for his leadership. The Board is reluctantly accepting Alan’s resignation and will immediately begin the search for his replacement,” said Sam Grippo, Chairman of the Company.

 
June 29, 2012by 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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