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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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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, Development

Polygon Planning 278 Units for Coquitlam Site

Polygon has submitted a rezoning application for a 2.8 acre site in the Burquitlam area of Coquitlam. The site is currently an assembly of 18 single family homes that are zoned RS-1 and RS-3.

The overall development would be divided into two sites that would be developed under two separate partnerships. The two sites are entitled ‘Cardinal’ and ‘Burquitlam East’. The two sites would include a total of three 6-storey buildings.

Details of the overall proposal include:

  • 278 condo units;
  • a total density of 2.3 FAR;
  • 207 underground parking stalls in the first phase (Cardinal);
  • $1,981,000 in DCC’s from Cardinal, $746,000 in CACs overall.

The architect for the project is Integra Architecture.

July 3, 2020by david.taylor@colliers.com
Condo, Development

Burquitlam Land Assembly Slated for 63 Townhouses

Anthem Properties has submitted a rezoning application for a 6-lot, 66,000 SF land assembly in the Burquitlam area of Coquitlam.

The proposal calls to rezone 909, 913, 917,921, 925 and 927 Grant Street from RS-1 One-Family Residential to RT-2 Townhouse. The Burquitlam-Lougheed Neighbourhood Plan designates the subject properties for Townhousing and supports rezoning to RT-2.

The proposal calls to develop six buildings consisting of:

  • 63 stacked townhouse units;
  • 21 one-bedrooms, 39 three-bedrooms & 3 four-bedroom units;
  • 91 underground parking spaces;
  • a total density of 1.10 FAR.

The architect for the project is Integra Architecture.

The site was acquired in 2018 for $15,190,000, or $210 per buildable SF.

June 12, 2020by david.taylor@colliers.com
Apartment, Condo, Development

27-Storey Tower Pitched for Burquitlam Site

A rezoning and development permit application have been submitted by Ikor Group to the City of Burquitlam to develop a 0.7 acre Burquitlam Funeral Home site at 625 North Road in Burquitlam.

The site is designated as High Density Apartment Residential in the Burquitlam-Lougheed Neighbourhood Plan.

The site sits directly South of a large scale redevelopment plan by Amacon at 633 North Road.

The proposal is for a new 27-storey residential tower that includes:

  • 195 total units
  • 151 condos
  • 33 market rental units;
  • 11 below market rental units;
  • 239 underground parking spaces;
  • a total density of 5.50 FAR.
  • a building height of 289 ft.

The architect for the project is IBI Group.

The site was sold by Morgan Iannone and Casey Weeks of Colliers in 2017 for $15,500,000 or $97 per buidable SF.

May 22, 2020by david.taylor@colliers.com
Condo, Development

178 Units Proposed for Burquitlam Site

Purewest Properties has submitted a rezoning and development
permit application to the City of Coquitlam for a 1.5 acre site on Rochester Avenue in the Burquitlam area.

The site is an assembly of 8 single family lots located on both Rochester and Madore Avenues, west of Guilby Street in the Medium Density Apartment Residential in the Burquitlam Lougheed Neighbourhood Plan (BLNP). There are approximately 500 lowrise units in various stages of development within a block of the site.

Plans for the site include a ‘C-Shape’ 7-storey building (viewed as 6-storeys from all frontages except interior) with:

  • 178 condo units;
  • 90 one-bedrooms, 68 two-bedrooms & 20 three-bedrooms;
  • $417,000 in voluntary CAC payment;
  • a total density of 2.30 FAR;
  • 248 underground parking spaces.

The architect for the project is Ciccozzi Architecture.

Purwest assembled the site in 2018 for $25,400,000 or $153 per buildable SF based on the application.

April 26, 2020by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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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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West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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