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, Rental

141 Woodframe Rental Project Planned for East Van Site

Aragon Properties has submitted a development application for a new rental project in East Vancouver at East 49th Avenue, just West of Killarney Street in the Killarney neighbourhood.

The site was approved at public hearing for rezoning under the Secured Rental Policy in October 2023.

The proposal is for a 5-storey plus amenity level apartment building and two three-storey townhouses on this site, consisting of:

  • 141 market rental units;
  • a total density of 2.20 FSR;
  • A proposed Height of 55 ft.;
  • One level of underground parking, having vehicular access from the lane.

Under the site’s proposed RR-2B zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The site was acquired in 2022 for $15,420,000 or $151 per buildable SF based on the application.

March 14, 2024by david.taylor@colliers.com
Condo, Development

4-Storey Building Slated for West King Edward Site

A rezoning application has been submitted by Aragon for a two-lot assembly at 582-588 West King Edward Avenue, just West of Cambie at the Northeast corner of Ash Street. 

The proposal consists of one four-storey residential building and one two-and-a-half-storey townhouse building and includes:

  • 36 condo units;
    • 11 studios, 11 one-bedrooms, 10 two-bedrooms & 4 three-bedrooms;
  • a total density of 1.95 FSR;
  • a maximum building height of 61 ft.; and
  • 39 underground parking spaces and 51 bicycle spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is RWA Architecture.

January 4, 2019by david.taylor@colliers.com
Condo, Development

Latest Phase of Port Royal Development to Include 87 Units

Aragon has submitted development permit applications for 310 Salter Street, the latest phase of their 42-acre Port Royal development in the Queensborough area of New Westminster. 

The site is located at the western end of Port Royal and is bounded by the Annacis Channel of the Fraser River and the Queensborough Perimeter Trail to the south. To the north is an existing lumber yard retail store and sawmill that is zoned Heavy Industrial (M-2). To the west of the site is a 91 unit secured market rental building as well as the Stanley Street Greenway. The rental building has an FSR of 1.6 and the height of the building is four storeys plus loft. To the east of the site is an 87 unit, mid-rise apartment building (four storeys plus loft) that is currently under construction with an FSR of 1.49.

The proposal for the subject 2.64 acre site includes:

  • 87 condo units;
    • 10 one-bedrooms, 54 two-bedrooms & 23 three-bedrooms;
  • a total density of 1.50 FSR;
  • a building height of 67 feet;
  • 154 parking spaces.
  • Mass timber – CLT construction.

Exterior hallways and staircases are proposed for each of the three buildings. These exterior hallways and staircases would be located within the site along the building faces facing the central courtyard and would not be visible from the street or adjacent buildings to the west and east.

 

October 1, 2018by david.taylor@colliers.com
Apartment, Development

Next Phase of Port Royal Project Proceeding

The next phase of Aragon Properties‘ Port Royal project is proceeding to final City of New Westminster Council consideration for development permit approval. The site at 300 Salter Street in the Queensborough area is part of the larger Port Royal development (Phase 6C) that was rezoned a few years ago.

The proposal for the site is for a 4-storey rental apartment building that includes:

  • 87 rental units
  • 28 one-bedrooms, 41 two-bedrooms, 18 three-bedrooms
  • 136 parking spaces
  • a 1,460 SF amenity space
  • a total density of 1.49 FSR

300 Salter300 Salter_1300 Salter_3The architect for the project is Ramsay Worden.

June 1, 2017by david.taylor@colliers.com
Development

Revised Port Moody Application Heading Back to Council

Aragon Properties is heading back to City of Port Moody council with a revised rezoning application for their site at 2713-2725 Clarke Street.

Aragon had submitted a rezoning application back in April 2016 for a 6-storey condo building per the guidelines in the OCP; however, several residents in Aragon’s previous project “The Station” spoke in opposition of the rezoning due to view loss. City council voted in favour of the residents and against the previously approved OCP by defeating the application at third reading. (all but the Mayor and one councilor voted in favour).

The application being brought back is still a 6-storey building with only a minor 2.5 ft. reduction in height.

If Council approves the required bylaw amendments, the project will go back to public hearing on October 11, 2016.

2713-clarke_1 2713-clarke

September 12, 2016by 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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