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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  • Surrey Office Buildings – 10 Year Sale Analysis
Development

Nelson Development to Go Ahead, Despite Concerns

Nelson development to go ahead, despite concerns.

Plans for a 38-storey tower and three-storey townhouses on two properties on Nelson Avenue are going ahead despite a handful of concerns brought forward by area residents.

The rezoning application, put forward by developer Concord Pacific, went to second reading at Monday night’s council meeting. The primary concerns regarding the properties at 6530 and 6550 Nelson Ave. focused on the density and shape of the building, loss of the rental housing currently on the two properties, vehicle access and traffic safety, and construction impacts, according to a report from the city’s planning and building department.

6350 Nelson Ave

The concerns are related to the proposed density and shape of the building related to the amenity density bonus, and the form of the building in relationship to the neighbourhood, the report stated.

The development plan is consistent with council’s policies on density and the plan for the Metrotown area, Lou Pelletier, director of building and planning, stated in the report, and the value of the amenity bonus would be $9.5 million.

Read more: http://www.burnabynow.com/Nelson+development+ahead+despite+concerns/7838152/story.html#ixzz2Ichzm3n2
January 21, 2013by david.taylor@colliers.com
Development

Burnaby Proposes Changes to C-8 and C-8A Zoning in Hastings Area

In an effort to improve the viability of development proposals in the Hastings Heights area, the City of Burnaby is proposing that the number of storeys in the C8 and C8a District be changed in rezoning to allow for a residential mezzanine floor (or a 5th storey) in the rear portion of the grade level commercial envelope. Design details include:

  • Development of a residential mezzanine should not impact the viability of grade level commercial uses fronting Hastings Street.The residential mezzanine must occupy the rear, upper portion of the commercial envelope.
  • Taking into account the minimum depths for the commercial and residential mezzanine units and the established front and rear yard setback requirements of the C8 and C8a District, lots with a minimum depth of 112.5 ft. would qualify for consideration for a building with a residential mezzanine floor.

Source: City of Burnaby

January 14, 2013by david.taylor@colliers.com
Investment, Retail

Edmonds Appliance Property in Burnaby Sold

The building occupied by Edmonds Appliance in Burnaby has been sold, for $2,650,000, or $250 /SF. The 10,687 SF building is located on a 20,000 SF site and had been listed for sale for $2,950,000. The property is zoned C-4. Edmonds Appliance will be relocating.

edmonds burnaby

 

December 21, 2012by david.taylor@colliers.com
Development

38-storey Tower Planned for Nelson Avenue

Burnaby NewsLeader – 38-storey tower planned for Nelson Avenue.

A 38-storey apartment tower with three-storey townhouses is being proposed for a site comprised of 6530 and 6550 Nelson Ave. in Burnaby’s Metrotown area.

Both parcels are currently occupied with older low-rise apartment buildings in fair condition, one built in 1968, the other in 1970, according to a city staff report.

The developer, Concord Pacific Developments Inc., also recently consolidated and rezoned the site directly to the south to allow a 35-storey high-rise condominium tower with townhouses fronting onto Nelson and Dunblane avenues.

Read more: http://www.burnabynewsleader.com/news/177501731.html

November 8, 2012by david.taylor@colliers.com
Development

Edmonds Development Awaits Area Planning Process

Burnaby NewsLeader – Edmonds development awaits area planning process.

The development of the vacant lot at Edmonds and Canada Way is awaiting completion of an updated Sixth Street Area Plan at Burnaby City Hall.

A four-storey mixed-use project is being proposed for the corner property at 7320 Canada Way, a former gas station site, according to a city planning report.

City staff informed the rezoning applicant, Kamcon Construction, that “substantial efforts” would have to be made to acquire and consolidate the Odd Fellows Hall property next door at 7724 Edmonds St. into any potential development.

November 1, 2012by 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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