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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Metro Vancouver Commercial Real Estate Market Data
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Apartment, Development

Adera Planning New 60-Unit Rental Building for Upper Lonsdale

Adera has submitted a rezoning application to the City of North Vancouver for a property they own at 2762 Lonsdale Avenue in the Upper Lonsdale area of North Vancouver.

The 17,353 sq ft site is located mid-block on the east side of Lonsdale Avenue between 27th and 29th Streets. The site is currently improved with an older 3-storey walkup apartment building with 26 units.

The proposal is for a new 6-storey rental building that includes:

  • 60 rental units;
    • 21 studios, 19 one-bedrooms, 11 two-bedrooms & 9 three-bedrooms;
    • 54 market units & 6 mid-market units;
  • a total density of 2.33 FSR;
  • 36 parking spaces.

The architect for the project is Integra Architecture.

Adera acquired the site in 2020 for $9,450,000 or $227 per buildable sq ft.

September 16, 2021by david.taylor@colliers.com
Apartment, Development

Upper Lonsdale Rental Site Sells for $9.5 Million

Adera has completed the acquisition of a rental development site at 2762 Lonsdale Avenue, in the Upper Lonsdale area of North Vancouver. The purchase price is $9,450,000.

The site is 17,353 sq ft. in size and improved with an older 3-storey walkup apartment building. There is now a development application on the site to allow a 6-storey market, 60-unit market rental development.

November 20, 2020by david.taylor@colliers.com
Apartment, Development

59-Unit Rental Project Slated for Burquitlam Site

Adera has submitted a rezoning and development permit application to
the City of Coquitlam to develop at 17,100 SF site at 715-717 Como Lake Avenue in the Burquitlam area. The site is currently occupied by a single family house and a duplex.

The site sits directly adjacent Adera’s 72-units Duet condo project at 707 Como Lake.

The plan calls for a 6-storey market rental apartment building using the RM-3 Multi-Storey Medium Density Apartment Residential designation under the Burquitlam-Lougheed Neighbourhood Plan.

Details of the proposal include:

  • 59 rental units;
  • 18 studios, 23 one-bedrooms, 6 two-bedrooms & 12 three-bedrooms;
  • a total density of 2.53 FSR;
  • 56 underground parking spaces.

The architect for the project is Integra Architecture.

The site was assembled in 2019 for $4,780,000 or $110 per buildable SF based on the application.

November 16, 2020by david.taylor@colliers.com
Condo

60-Unit Stacked Townhouse Project Planned for Burquitlam

Another proposal for Burquitlam, this one is a stacked townhouse project by Adera that is seeking rezoning for 60-units on Lea Avenue, just East of Clarke Road. The 36,750 SF site is comprised of four single family lots that have been assembled. The project is called ‘Duet‘.

The plan for the site includes three, 3-storey stacked townhouse buildings that include:

  • 60 units;
    • 8 studios, 8 one-bedrooms and 44 two-bedrooms;
  • a density of 1.40 FAR;
  • 84 parking spaces.

 

The architect for the project is Integra Architecture.

 

November 16, 2018by david.taylor@colliers.com
Apartment, Development

88-Unit Rental Building Proposed for Lynn Creek Area of North Van

A rezoning application has been submitted by Adera for a two-lot land assembly in the Lynn Creek area of North Vancouver (formerly known as “Lower Lynn”). The site at 1552-1568 Oxford totals 26,471 SF and is currently improved with two older single family houses. The Official Community Plan designates the site as RES Level 5: Low Density Apartment which envisions apartments at a density of up to approximately 1.75 FSR, but this proposal would amend the OCP to allow for a higher density.

The site sits adjacent the “Creekstone Care Centre” which was approved by the District of North Vancouver in January 2018 with a density of 3.1 FSR and 7-storeys in height.
The “Lynn Creek Apartments” is located to the south side of Oxford Street and includes a 6-storey rental building with a density of 3.2 FSR.

Details of the proposal include:

  • 6-storey rental building;
  • 88 rental units;
  • A total density of 3.03 FSR;
  • A total CAC of $922,000 ($11.50 per SF);
  • 80 parking stalls on two levels of underground parking.

The architect for the project is Rositch Hemphill.

May 24, 2018by 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

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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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