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.
Development

Low-rise Condo Project Eyed for Royal Oak and Imperial

A four-storey condo project is proposed for a long-vacant site at the southeast corner of Imperial Street and Royal Oak Avenue.

The site is made up 6808 and 6826 Royal Oak Ave and 5250 Imperial St. The proposal is for a mixed-use development with ground-floor commercial space and parking underground.

Rezoning for an earlier proposal was given third reading by council in 2008 but the owner has since revised the plan, making a new process necessary.

The current proposal is for commercial on both Imperial and Royal Oak with 45 apartment units on the three upper floors.

The units will comprise 15 one-bedrooms, 10 two-bedrooms, 17 two-bedrooms-plus-den units and three three-bedrooms-plus-den units.

Read more: http://www.burnabynewsleader.com/news/247098061.html

February 27, 2014by david.taylor@colliers.com
Development, Office

Light Industrial/Office Development Proposed for Big Bend Area of Burnaby

A rezoning application has been submitted for a 7.8 acre site located at 8601 Glenlyon Parkway at Marine Way. The vacant site is proposed for a 2-storey 122,000 SF warehouse and office facility, with a floor area breakdown as follows:

  • Office: 30,910 SF
  • Manufacturing: 7,933 SF
  • Warehousing: 72,667 SF
  • Commercial: 7,700 SF
  • Restaurant: 2,710 SF

8601 Glenlyon

January 29, 2014by david.taylor@colliers.com
Development, Investment

Onni Acquires Gilmore Site in Burnaby

Onni announced via instagram today that they have acquired the 12.5 acre Gilmore Station area lands from Standard Life. The site, which is partially vacant, and partially occupied by industrial and office buildings, sold for a reported $110 Million.

Gilmore Lands

 

January 23, 2014by david.taylor@colliers.com
Development

Another 300 Units Coming to Metrotown

A few older apartment buildings from the 1950s and 1960s could be replaced with a shiny new redevelopment in the Metrotown area.

The proposed 38-storey apartment tower with street fronting townhouses on Nelson Avenue and Dunblane Avenue and underground parking will go to a public hearing on Jan. 28, 2014.

The site includes 6616, 6642 and 6668 Nelson Ave. and 6635 Dunblane Ave., which currently have a single-family dwelling and older apartment buildings ranging from two to three storeys. The site is also in the heart of other new developments, including the 35-storey apartment building being constructed north of the proposed project.

“The development form has a strong street orientation on the site’s public frontages as well as a strong contextual relationship to the surrounding existing high and lowrise apartment developments,” states Lou Pelletier, director of planning and building, in his report.

A total of 304 units are proposed, ranging from 470 square feet to 1,686 sq. ft.

Read more: http://www.burnabynow.com/news/another-300-units-coming-to-metrotown-1.753554#sthash.snWI6yji.dpuf

December 17, 2013by david.taylor@colliers.com
Development

Massive Edmonds Project Goes to Public Hearing

Although the deals offered at the Value Village in Edmonds will surely be missed, its replacement proposes to be a new community hub.

The rezoning application for a mixed-use development with three highrise residential towers, an office building, two-storey retail podium and underground parking in the Highgate area is headed to public hearing on Jan. 28, 2014.

The proposed redevelopment, at 7350 Edmonds Street and 7338 Kingsway Avenue, was first brought to council’s attention in July 2012. A Value Village and a multi-tenant building currently sit on the site.

value-village-redevelopment-burnaby

“We are excited to build a landmark project that will add to the growth of the neighbourhood,” Michael Sengara, development coordinator with Cressey Development Group, told the Burnaby NOW. “This particular corner of Kingsway and Edmonds is a prominent one, and the office building on the corner is a reflection of that.”

IBI/HB Architects put forward the rezoning application on behalf of the developer, Cressey Development Group.

Read more: http://www.burnabynow.com/news/massive-edmonds-project-goes-to-public-hearing-1.753477#sthash.v228QMtZ.dpuf

December 11, 2013by david.taylor@colliers.com
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