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.
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

Redevelopment Proposed for Chinese Presbyterian Church Site

A rezoning application has been submitted for the Chinese Presbyterian Church at 6137 Cambie Street, located on the West side of Cambie Street just a block south of Oakridge Centre.

The church sits on a 13,000 SF site that was redesignated under the Cambie Corridor Plan. The current proposal envisions redeveloping the church with a new 7-storey mixed-use building over two levels underground parking, including:

  • a replacement church on the ground level;
  • 68 childcare spaces;
  • a total of 20 secured market rental units;
  • a total floor area of 39,982 SF;
  • a total density of 3.08 FSR;
  • a building height of 83 ft.;
  • 56 vehicle parking spaces; and
  • 31 bicycle spaces.

6137 Cambie_2 6137 Cambie6137 Cambie_1The architect for the project is GBL Architects.

February 1, 2017by david.taylor@colliers.com
Development, Office, Retail

Mixed-use Development Planned for Cambie & 42nd

Viva Grand Developments has applied to rezone a site that they own at Cambie Street and West 42nd Avenue, across from Oakridge Centre. The plan for the 31,194 SF site at 5812-5888 Cambie Street is to rezone from the existing C-2 to CD under the Cambie Corridor Plan to allow a 10 and 8-storey mixed-use development, including:

  • a total of 117 residential units;
  • 20 studios, 28 one-bedrooms, 50 two-bedrooms & 11 three-bedrooms
  • 8 live work units at the lane;
  • 6 commercial units at grade totaling 14,700 SF;
  • 21,000 SF of office space;
  • a maximum building height of 116 ft.;
  • a total density of 5.22 FSR; and
  • 215 underground vehicle parking spaces and bicycle spaces.

5812-cambie5812-cambie_2 5812-cambie_1Viva Grand had acquired the site, currently occupied by single storey retail, in 2013 for $26,000,000.

The architect for the project is IBI Group.

The full rezoning package can be viewed here: http://rezoning.vancouver.ca/applications/5812-5888cambie/index.htm

January 9, 2017by david.taylor@colliers.com
Development

Latest Cambie Proposal Features 57-Units

Create Properties Ltd. has filed an application to rezone a two-lot land assembly at 4238-4262 Cambie Street for a 6-storey condo building.The site is located mid-block on the East side of Cambie between West 26th and West 27th Avenue, and is 20,252 Sf in size.

Project details include:

    • 57 residential units including 5 townhomes on the lane;
    • a total density of 2.75 FSR;
    • a building height of 64 ft.; and
    • 84 underground parking spaces and 77 bicycle parking spaces.

4238-cambie_1 4238-cambieThe application is being considered under the Cambie Corridor Plan.

The architect for the project is Arno Matis Architecture.

December 16, 2016by david.taylor@colliers.com
Development

54-Unit Building Planned for West 41st near Cambie

iFortune Homes has submitted a rezoning application for a three lot land assembly in the Cambie Corridor area. The address for the combined 21,342 SF site is 5733 Alberta Street and 376-392 West 41st Avenue. The preliminary plan calls for a 6-storey building that includes:

  • 54 market residential units;
  • 17 one-bedroom units, 23 two-bedrooms & 14 three-bedroom units
  • a building height of 69 ft.;
  • a density of 2.63 FSR; and
  • 62 underground parking spaces and 84 bicycle parking spaces.

5733-alberta 5733-alberta_1 5733-alberta_2The application is being considered under the Cambie Corridor Plan.

The architect for the project is GBL Architects.

December 11, 2016by david.taylor@colliers.com
Development

Latest Cambie Infill Project Features Large Units

The latest rezoning application to emerge along the Cambie Corridor is for a small 7,863 SF single-family corner lot at the Southeast corner of Cambie Street and West 35th Avenue. The site sits adjacent to another large rezoning application to the South, but the site qualifies for a standalone development with 62 feet of frontage.

The plan for 5110 Cambie Street is for a 6-storey residential building with townhouses on the lane. Details include:

  • a total of 12 condo units (7 in the building + 5 townhouses)
  • 11 three bedroom units and 1 two-bedroom unit
  • average unit size of 1,277 SF
  • a building height of 66 ft.;
  • a building efficiency of 81%;
  • a total density of 2.40 FSR; and
  • 14 vehicle parking spaces & 18 bicycle spaces on one level of underground parking

5110-cambie 5110-cambie_1

5110-cambie_2The building features one elevator and ‘city style’ townhomes on the bottom two floors, with two units per floor on floors 3-5, and one penthouse unit.

The application is being considered under the Cambie Corridor Plan. The architect for the project is Billiard Architecture.

The lot was acquired in March 2016 for $3,898,000, which equates to $206 per buildable SF.

November 23, 2016by 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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