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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Condo, Development

47-Unit Townhouse Project Slated for Cambie Area Block

Zail Properties has applied to the City of Vancouver for permission to develop a new townhouse development on a full city block site in the 500 Block of West 27th Avenue at Ash Street, just West of Cambie.

The proposal includes:

  • 47 three-bedroom units;
  • a total density of 1.20 FSR;
  • Approximate overall building heights up to:
    • 38 ft. facing Ash Street and West 27th Avenue
    • 33 ft. facing rear and side lanes
  • One level of underground parking (approximately 59 stalls) having vehicular access from the north side lane.

Under the site’s existing RM-8A zoning, this application is “conditional” and may be permitted pending review and decision by the Director of Planning.

The architect for the project is Ciccozzi Architecture Inc.

The full application details can be viewed here: https://www.shapeyourcity.ca/531-595-w-27-ave

January 24, 2023by david.taylor@colliers.com
Development

146 Rental Units Planned for Marine & Cambie Area Site

Landmark Premiere Properties have submitted a rezoning application for a new market rental building on a 33,000 SF, 6-lot land assembly on Lord Street in the Marpole area of Vacnouver.

The site at 540 West 65th Ave and 8120-8168 Lord Street is currently improved with six single family houses and sits directly North of Onni’s Northwest condo project at Cambie & Marine.

The proposal for the site is to allow for the development of two 6-storey residential buildings over two levels of underground parking. The zoning would change from the existing single family RS-1 zoning to CD-1 District. The proposal includes:

  • 146 market rental units (including 5 below market units);
    • 36 studios, 60 one-bedrooms, 36 two-bedrooms & 14 three bedrooms;
  • a total density of 2.88 FSR;
  • A building height of 66 ft.; and
  • 75 vehicle parking spaces and 277 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Francl Architecture.

January 13, 2023by david.taylor@colliers.com
Condo, Development

114 Condo Units Planned for Cambie Street Site

Mosaic Homes has submitted a rezoning application for a four-lot land assembly that they own at 4711-4787 Cambie Street in Vancouver.

The site is a full city block on the West side of Cambie Street between West 31st and West 32nd Avenues, across from Queen Elizabeth Park.

The proposal for the 37,000 SF site includes two 6-storey residential buildings with two single-storey amenity buildings at the lane. Details include:

  • 114 condo units (57 units in each building);
  • 8 studios, 46 one-bedrooms, 48 two-bedrooms & 12 three-bedrooms;
  • A total density of 2.66 FSR;
  • A building height of 70 ft.; and
  • 132 vehicle parking spaces and 249 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The application describes the design: “The proposed vocabulary for this development is a Georgian-inspired contemporary architecture boasting dark brick material and elegantly proportioned window patterning for the lower floors and stepping back approximately eight feet on the two upper floors and using a less dominant light color to break the overall mass and create a transition to the future low-rise developments to the west.”

The architect for the project is Ciccozzi Architecture.

December 13, 2022by david.taylor@colliers.com
Condo, Development

Coromandel & Peterson Propose Condo & Social Housing for Two Oakridge Sites

Coromandel Properties and Peterson Group have submitted two concurrent rezoning applications for sites in the Oakridge area. The rezonings contemplate two condo towers on Manson Street, and the required 30% social housing requirement to be placed on a nearby site at Ash Street and West 37th.

These applications represent the first transfer of social housing density between sites in the Cambie Corridor Plan. To date, no proposals have been made in the Oakridge Municipal Centre area with a blend of condo and social housing.

Manson Street Site

The proposal on Manson Street is for an assembly of 5 single family lots at 5392-5472 Manson St. The proposal is to allow for the development of two 18-storey condo buildings over four levels of underground parking. The proposal includes:

  • 248 condo units;
    • 76 one-bedrooms, 146 two-bedrooms & 26 three-bedrooms;
  • A total density of 5.6 FSR;
  • A building height of 197 ft.; and
  • 266 vehicle parking spaces and 567 bicycle parking spaces.

The architect for this project is IBI Group.


Ash Street Site

The proposal for the site at Ash and West 37th Avenue anticipates rezoning a 3-lot single family assembly to allow for the development of the social housing component to be transferred from the Manson site above. The rezoning at 5250-5270 Ash St and 595 W 37th Ave calls for a 6-storey building that includes:

  • 77 social housing units;
  • a total density of 2.97 FSR;
  • A building height of 75 ft.; and
  • 31 vehicle parking spaces and 162 bicycle parking spaces.

The architect for the Ash Street project is NSDA Architects.

Both applications are being considered under the Cambie Corridor Plan.

December 6, 2022by david.taylor@colliers.com
Condo, Land

Cambie & 27th Block Sells in $34 Million Deal

A full city block on the West side of Cambie Street between West 27th and West 29th has sold to Aria Pacific Development for $34,000,000 or approx. $336 per buildable SF based on an anticipated density of 2.50 FSR per the site’s 6-storey designation in the Cambie Corridor Plan.

The site had previously been assembled between 2016 and 2020 for a total of $40.8 Million by developer Amy Washington. It had been listed for sale since 2021 with a combined asking price of $39,920,000.

October 20, 2022by 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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