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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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Condo, Development

Burquitlam Land Assembly Slated for 144 Units

A rezoning and development permit application has been submitted by Vanhome Properties to the City of Coquitlam for the development on two separate, 4-lot land assemblies, eight lots in total, on Madore and Dansey Avenues between Guilby and Westview Streets

The OCP designation for the 32,300 SF site is Medium Density Apartment Residential in Burquitlam Lougheed Neighbourhood Plan (BLNP).

The proposal for the combined site includes two 6-storey condo buildings separated by the existing lane. Details include:

  • 144 units
    • 44 one-bedrooms, 72 two-bedrooms & 28 three-bedrooms;
  • a total density of 2.21 FAR;
  • 214 underground parking stalls;
  • $389,000 in voluntary Community Amenity Contributions (CACs)

The architect for the project is Van Der Zalm + Associates.

Vanhome acquired the site in 2017 for $21,700,000 or $152 per buildable SF.

April 17, 2020by david.taylor@colliers.com
Apartment, Condo, Development, Retail

539 Units, Two Towers Planned for Burquitlam Site

Townline Homes, in partnership with Quadreal, have submitted their application to the City of Coquitlam for the 1.6 acre site that they own at 675 North Road and 668 Whiting Way in the Burquitlam area. The site is located on the east side of North Road, and is bound by Whiting Way to the east, Shepherd Avenue to the south, and North Road to the west.

The site is currently improved with two older lowrise apartment buildings totaling 593 units. It is located in the Burquitlam-Lougheed Neighbourhood Plan and is designated Transit Village Commercial.

Detail of the proposal include:

  • a 45-storey condo tower & 18-storey rental tower;
  • 385 market condo units;
    • 214 one-bedrooms, 119 two-bedrooms & 52 three-bedrooms;
  • 154 rental units inclusive of 20 below-market rental units;
    • 27 studios, 58 one-bedrooms, 35 two-bedrooms & 14 three-bedrooms;
  • 17,700 SF of retail space (strata retail units);
  • 665 parking spaces;
  • 35,300 SF of common amenity space;
  • tower heights of 470 ft. and 200 ft.;
  • a total density of 6.0 FAR;
  • a new east/west pedestrian connection;
  • $16 Million in bonus density funds & $230,000 in CACs

The architect for the project is Dialog.

The site sold in 2018 for $46,000,000, or $108 per gross buildable SF.

September 27, 2019by david.taylor@colliers.com
Condo

60-Unit Stacked Townhouse Project Planned for Burquitlam

Another proposal for Burquitlam, this one is a stacked townhouse project by Adera that is seeking rezoning for 60-units on Lea Avenue, just East of Clarke Road. The 36,750 SF site is comprised of four single family lots that have been assembled. The project is called ‘Duet‘.

The plan for the site includes three, 3-storey stacked townhouse buildings that include:

  • 60 units;
    • 8 studios, 8 one-bedrooms and 44 two-bedrooms;
  • a density of 1.40 FAR;
  • 84 parking spaces.

 

The architect for the project is Integra Architecture.

 

November 16, 2018by david.taylor@colliers.com
Apartment, Condo

29-Storey Tower Proposed for Burquitlam Site

Ledingham McAllister has submitted a rezoning and development permit application for 520 Cottonwood Avenue, at the corner of Cottonwood and Whiting Way. The 39,000 SF site is located in the rapidly developing Burquitlam area of Coquitlam. The site is currently improved with an older lowrise strata building which has sold. T

The application proposes to rezone the subject site from RM-2 Three Storey Medium Density Apartment Residential Zone to Comprehensive Development (CD-10), based on the Multi-Storey High Density Apartment Residential Zone (RM-6) per the Burquitlam Lougheed Neigbourhood Plan.

Details of the proposal, entitled “Precidia” include:

  • 176 market condo units;
    • 60 one-bedrooms, 98 two-bedrooms and 18 three-bedrooms;
  • 65 market rental units;
    • 5 studios, 32 one-bedrooms, 17 two-bedrooms & 11 three bedrooms;
  • 10 non-market rental units;
    • 2 studios, 5 one-bedrooms and 3 two-bedrooms;
  • 13,000 SF of amenity space;
  • a total density of 5.50 FAR;
  • a total building height of 305 ft;
  • 310 parking spaces.

 

 

The architect for the project is IBI Group.

Ledingham acquired the site in June 2018 for $22,500,000, or $105 per gross buildable SF.

November 16, 2018by david.taylor@colliers.com
Condo, Development

176-Units Planned for Burquitlam Land Assembly

Boffo Properties has submitted rezoning and development permit applications to the City of Coquitlam for an assembly of eight single family lots totaling 1.48 acres on Como Lake Avenue and Lea Avenue in the Burquitlam area.

The proposal calls to allow for the development of two 6-storey condo buildings
in the Burquitlam Lougheed Neighbourhood Plan (BLNP) area. The existing zoning is RT-1 and would go to RM-3.

Details of the proposal include:

  • 176 condo units;
    • 90 one-bedrooms, 46 two-bedrooms & 40 three-bedrooms;
  • a total density of 2.3 FAR;
  • 414 underground parking spaces.

The architect for the project is GBL Architects.

October 15, 2018by david.taylor@colliers.com
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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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