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

Four Tower Project Planned for Brentwood Site

Boffo Developments has submitted an application to rezone a 4.12 acre site at Lougheed and Springer in the Eastern part of the Brentwood Town Centre area of Burnaby. The site is currently comprised of five older industrial buildings located near the Holdom Skytrain Station. The current zoning is M-2.

The site has a designation of RM-5s designation in the Brentwood Town Centre Development Plan. Boffo is proposing a four-tower project to be established by a master plan over the entire site. Phase 1 would occur in the Northeast corner of the site, and future rezoning applications would be required for the subsequent three phases.

Details include:

  • Four residential towers from 25 to 40-storeys;
  • Above-ground parking screened by street fronting townhouses;
  • Extension of Lougheed Parkway concept along South side of Lougheed Hwy;
  • Public plaza at Lougheed and Springer Avenue.

5258 Lougheed

May 29, 2017by david.taylor@colliers.com
Development, Office, Retail

540-Units Planned for North Road Site

Onni has submitted their formal rezoning application for a site at 3249-3355 North Road on the Burnaby side of North Road in the Lougheed Town Centre area plan. The site sits immediately north of Shape’s City of Lougheed project.

The 151,116 SF site is comprised of a 1980’s era strip mall with office space, as well as a vacant lot. The plan for redevelopment of the property includes:

  • A 32-storey north condo tower & 36-storey south condo tower
  • A 14-storey office building with 160,000 SF of office space;
  • A 2-storey commercial podium fronting North Road;
  • 17,000 SF of retail space;
  • 540 total units;
  • 110 studios, 171 one-bedrooms, 196 two-bedrooms & 63 three-bedrooms;
  • A total density of 4.88 FAR;
  • A pedestrian plaza at the corner of North Road and Cameron Street
  • 1,100 parking space on 4 levels of underground parking.

3249 North Rd

May 29, 2017by david.taylor@colliers.com
Development

Planning Underway for 40-Acre Willingdon Lands

Aquilini Development has submitted an initial rezoning application for a 40-acre site in Burnaby that they own jointly with the Musqueam Indian Band and the Tsleil-Watuth First Nation. The site has been used over the years by a variety of institutional uses and many of the existing facilities on the site are currently leased back by the Province. All of the remaining services on the site will be relocated off-site by 2019.

The site is currently zoned CD and allows for commercial and institutional uses. The current application seeks to establish a master plan for the entire site, and a development plan for the first phase to be located on the Northeast corner. While details are still vague at this point, general concepts include:

  • commercial, residential and amenity uses including a child care facility
  • 4-acre public open space or “commons” at the centre of the site
  • potential street linkages at South and West sides of site

Willingdon LandsThe existing CD zoning had been based upon the P6 and B2 Urban Office District guidelines and envisioned uses including: high tech and office uses, vocational and post secondary uses, health care and seniors care uses, emergency, transitional and supportive housing, as well as supporting accessory uses such as retail, residential and mixed-use.

Separate rezoning applications for the master plan and for phase 1 will be submitted as a next step.

The site was purchased from the Province in 2014 for $57.9 Million.

April 3, 2017by david.taylor@colliers.com
Development

FOR SALE: 14-Acre Transit Oriented Development Site

We are pleased to formally introduce this 14-acre residential development site in the Bainbridge Area of Burnaby.


7000 LougheedPlease download our brochure for further information about the Property and the offering process: Brochure_7000 Lougheed

March 9, 2017by david.taylor@colliers.com
Development

Construction Update: The Amazing Brentwood

Here is a great update video from Shape Properties highlighting the construction progress at The Amazing Brentwood:

January 13, 2017by david.taylor@colliers.com
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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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