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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Condo

116 Units Planned for Burquitlam Lowrise Site

Woodbridge Properties has submitted rezoning and development permit applications to the City of Coquitlam to allow the development of a 6-lot land assembly at the Southwest corner of Como Lake Avenue and Dogwood Street in the Burquitlam area.

The 1.07 acre site is located in  in the Burquitlam Lougheed Neighbourhood Plan (BLNP) area and is 410 meters from Burquitlam Skytrain Station. The OCP allows rezoning from the existing RT-1 Two-Family Residential to RM-3 Multi-Storey Medium
Density Apartment Residential.

The proposed development envisions two 6-storey condo buildings connected by a common amenity space that include:

  • 116 condo units;
  • 28 one-bedrooms, 84 two-bedrooms & 4 three-bedrooms;
  • a total density of 2.30 FAR;
  • 6,626 SF indoor and outdoor amenity space;
  • 170 underground parking spaces.

The architect for the project is Ciccozzi Architecture.

September 12, 2018by david.taylor@colliers.com
Condo, Development

398 Lowrise Units Planned for Burquitlam Site

Strand Development has submitted a rezoning application fora 3.5 acre site comprised of 14 single family lots and a motel in the 700 Block of Clarke Road in the Burquitlam area of Coquitlam. The proposal calls to rezone from the existing single family and commercial zoning to RM-3 to allow a new condo development under the Burquitlam-Lougheed Neighbourhood Plan, in which the site is designated for Medium Density Multi-family residential.

The site was sold by Morgan Iannone and Casey Weeks of Colliers in 2017.

The proposed plan is for three 6-storey condo buildings that include:

  • 398 units;
  • 94 one-bedrooms, 246 two-bedrooms & 58 three-bedrooms;
  • a total density of 2.30 FAR;
  • 29,848 SF of amenity space;
  • 584 underground parking spaces on two levels.

The architect for the project is Rositch Hemphill Architects.

August 2, 2018by david.taylor@colliers.com
Condo, Investment, Office, Retail

Five Towers, 1,386 Units, Planned for Coquitlam Inn Site

Anthem Properties is proposing to rezone a 6.0 acre site at 319 North Road for their upcoming project, entitled “SOCO“. The site is currently home to the Best Western Plus Coquitlam Inn Convention Centre and liquor store. 

The application to the City of Coquitlam proposes to rezone the site from the existing C-2 General Commercial and RS-l One-Family Residential to C-7 Transit Village Commercial to accommodate a phased, mixed-use development.

The site is located within the Burquitlam-Lougheed Neighbourhood Plan (BLNP)
and the Burquitlam-Lougheed ‘Core’ area in the TDS. The current OCP land use
designation on 319 North Road is Transit Village Commercial, and the current
designation on 566 Lougheed Highway is High Density Apartment Residential.

The proposed development includes 1,386 market condo units in five towers,
along with retail, restaurant, and office space. The overall gross buildable area can be up to a maximum of 1,185,607 SF.

The first phase of the project is located along North Road, and includes two towers (27 and 31 storeys) with condo units above a podium with a large restaurant space, commercial retail units, indoor and outdoor amenity space, and office space. 

The other three towers, to be built in three further phases, include tower heights of 24, 34 & 44 storeys.

Details of the first phase include:

  • 494 condo units;
  • 50 studios, 192 one-bedrooms and 252 two-bedroom units;
  • 7,501 SF of restaurant space;
  • 7,990 SF of retail space;
  • 50,316 SF of office space;
  • a total site density up to 4.5 FAR;
  • 843 parking spaces;
  • a new East-West collector and North-South Road;
  • $45.9 Million in density bonus funds and CACs.

The architect for the project is IBI Group.

July 9, 2018by david.taylor@colliers.com
Apartment, Condo, Development, Retail

50-Storey Tower Proposed for Burquitlam Site

Ledingham McAllister has submitted a rezoning and development permit application to the City of Coquitlam for a 1.50 acre site at the southeast corner of Clarke
Road and Smith Avenue in the Burquitlam area of Coquitlam. The project is entitled “Highpoint“.

The site consists of three lots, two of which are vacant and a third which contains a 2-storey commercial building. The site is designated Transit Village Commercial in the Burquitlam-Lougheed Neighbourhood Plan (BLNP) and is located within the “Core” area in the Transit- Oriented Development Strategy (TDS). The proposed rezoning to CD is based on the C-7 Zone.

Details of the proposal include a 50-storey mixed use tower with a podium and includes:

  • 415 residential units:
    • 295 market condo units;
      • 97 one-bedrooms, 168 two-bedrooms;  30 three-bedrooms;
    • 105 purpose built rental units;
    • 15 below / non-market rental units ;
  • 7 commercial retail units (16,000 SF);
  • a total density of 6.1 FAR;
  • a building height of 406 ft.;
  • 15,900 SF of market condo common amenity space;
  • 8,900 SF of rental unit common amenity space; and
  • 527 parking spaces.

The application describes the building program: “The podium fronting Clarke Road is ten storeys in height and is characterized by an eight storey podium atop a double height commercial podium. All CRUs provide abundant transparent windows to ensure views from the street. Levels three through ten of the podium contain all of the 120 proposed rental units. Much of the floor area at the fourth level and adjacent the SkyTrain guide way consists of a bike storage and amenity area. This area will be screened with perforated metal panels, and will have accent lighting.”

The architect for the project is Rositch Hemphill Architects.

July 9, 2018by david.taylor@colliers.com
Apartment, Development

Condos and Rentals Proposed for Burquitlam Site

Amacon has submitted rezoning and development permit application for a 1.60 acre site in the rapidly developing Burquitlam area on the Western edge of Coquitlam.

The application proposes to rezone the site at 500 Foster Avenue and 633 North Road from the current RM-2 zoning to RM-6 in order to permit a new high density residential development. The site is located within the Burquitlam Lougheed Neighbourhood Plan and is designated High Density Apartment Residential in the OCP and is located within the Transit Corridor “Shoulder” area of Burquitlam-Lougheed in the Transit-Oriented Development Strategy (TDS). 

The site is currently occupied by two, three-storey apartment buildings providing 89
units of rental housing which will be removed and replaced as part of the proposed development.

The development proposal includes:

  • a 41-storey tower with 304 market condo units;
    • 138 one-bedrooms, 136 two-bedrooms & 30 three-bedrooms;
  • a 6-storey lowrise building with 93 rental units;
    • 17 studios, 49 one-bedrooms, 17 two-bedrooms and 10 three-bedrooms;
  • one retail unit totaling 1,700 SF;
  • a total density of 5.0 FAR;
  • 21,700 SF of amenity space;
  • 448 underground parking spaces.

The architect for the project is Chris Dikeakos Architects.

June 15, 2018by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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