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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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Development, Rental, Retail

7-Storey Rental Building Proposed for Vacant West 4th Site

A development application has been submitted for 1587 West 4th Avenue, near the NE corner of Fir Street. The site is one of the former CP Rail sites that was sold in 2022. The 5,645 SF site has been used for surface parking for over 20 years and is zoned C-2B, a commercial mixed use zoning that allows up to 3.5 FSR for rental development.

The current proposal is for a new 7-storey rental building that includes:

  • 22 rental units;
  • 2 studios, 12 one-bedrooms, 2 two-bedrooms & 6 three-bedrooms;
  • a 2,300 SF animal clinic on the bottom two floors;
  • a total density of 3.50 FSR;
  • a building height of 72 ft.;
  • 3 surface parking stalls at the rear lane.

The Granville Street bridge West 4th offramp extends over the Northern portion of the site, such that only 53% of the site is developable. As such, the application seeks a few relaxations under the zoning. Under the site’s C-2B zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The site was acquired in 2022 for $2,900,000 or $146 per buildable SF based on the application.

The architect for the project is Arno Matis.

April 2, 2024by david.taylor@colliers.com
Development, Office, Retail

New Auto Dealership Planned for Burrard & 4th Corner

Dilawri Group have have submitted their development application for the former Esso Gas Station site at the Southeast corner of Burrard and West 4th Avenue.

The plan for the 14,461 SF, C-2B zoned site is to develop a new dealership building for Jaguar and Land Rover. The Jaguar & Land Rover dealerships are currently located at 1730 Burrard Street.

The building will be 2.5 storeys. Details include:

  • 21,707 SF of showroom space;
  • 10,096 SF of office space;
  • a total building height of 52 ft.;
  • a total density of 2.49 FSR;
  • 66 total parking stalls.

Under the site’s existing C2B zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Kasian Architecture.

A similar scale building was completed across the street in 2018, now home to Comor Sports, with offices above.

November 21, 2019by david.taylor@colliers.com
Development, Retail

New Retail Building Planned for West 4th

A development application has been filed by Yenik Realty for the site at 2350 West 4th Avenue in Kitsilano, comprising a total of 150 ft. of frontage currently improved with older single-storey retail buildings. The plan calls for a new retail building on this C-2B zoned site, including a relocated Shopper’s Drug Mart, which is currently located further down this block.

Details of the development proposal include:

  • a two-storey Shopper’s Drug Mart;
  • three additional retail stores on the ground floor;
  • a total density of 1.24 FSR,
  • approximately 19,563 SF of retail space
  • an overall building height of approximately 37.67 feet; and
  • 69 underground parking spaces on two levels

2350 West 4th Ave_2 2350 West 4th Ave_1 2350 West 4th AveThe architect for the project is Proscenium Architecture + Interiors Inc.

January 23, 2017by david.taylor@colliers.com
Development, Office, Retail

Office/Retail Building Planned for Burrard and West 4th Corner

A development application has been submitted for a prominent corner. A new 3-storey building is in the planning stage at the Northeast corner of Burrard and West 4th Avenue, currently home to Comor Sports. The proposal for the 93′ x 113′, C-2B zoned site includes:

  • retail use on Level 1 (Comor would be the tenant)
  • office use on Levels 2 and 3
  • 3 levels of underground parking
  • total floor area of 26,244 SF (2.5 FSR)

1785 West 4th Ave

 

February 11, 2015by david.taylor@colliers.com
Development, Retail

New Retail Building Proposed for West 4th & Arbutus

Bonnis Properties is proposing to redevelop a site that they acquired at the northwest corner of West 4th Avenue and Arbutus Street. The plan calls for a one-storey, 4,010 SF retail building with a roof deck. The 50 x 111′ C-2B zoned site is currently occupied by a Midas service centre.

The proposal is explained by the architect in the application: “The proposed structure has been design for potential relocation of the adjacent Lululemon store to the proposed building.The design including the roof terrace is based on the requirements and specifications of this potential tenant. The design of the building is flexible to allow for one or two commercial units in the future if required. The proposed building is a non-combustible steel construction and the exterior finishes are a combination of exterior architectural concrete panel system and metal cladding.”

2101 West 4th_1 2101 West 4th_2 2101 West 4th_3The site was acquired through a bidding process in late 2013 and was ultimately sold for $6,000,000, or $1,081 per SF of land.

 

January 14, 2015by david.taylor@colliers.com

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14 May

Hotel development planned for site of Troll's Restaurant in Horseshoe Bay

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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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16 Apr

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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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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