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

20-Unit Townhouse Project Slated for West 32nd

OAK32 Holdings Ltd. has applied to the City of Vancouver for permission to develop a two-lot land assembly at 916 and 926 West 32nd Avenue. The 15,500 sq ft site has already been rezoned to RM-8A which allows 1.20 FSR for townhouses per the Cambie Corridor Plan.

The proposal includes:

  • A total of 20 townhouse units;
  • 8 garden flat one-bedrooms, and 12 two, three & four-bedroom townhouses;
  • A proposed maximum height of 43 ft.;
  • A density of 1.20 FSR;
  • One level of underground parking.

The site was assembled in 2017 for $7,105,000 or $382 per buildable sq ft.

The architect for the project is Imperial Architecture.

June 22, 2021by david.taylor@colliers.com
Condo, Development

SOLD: 561-581 West 26th Avenue

I am pleased to announce the sale of 561-581 West 26th Avenue, a 22,500 sq ft. land assembly in the Cambie Corridor. The site is zoned RM-8A and will be redeveloped for townhouses.

Please contact us for further details.

June 16, 2021by david.taylor@colliers.com
Apartment, Development

Marcon Planning Second Rental Tower for West 42nd

Marcon have submitted a rezoning application for a site at 277-291 West 42nd Avenue, directly adjacent their approved project at 325-341 West 42nd Avenue, which was recently approved at City Council in April 2021.

The proposal is to allow for the development of an 18-storey residential building that will become the ‘East Tower’ phase of the larger overall project and includes:

  • 211 rental units (including 42 below market rental units);
  • 78 studios, 59 one-bedrooms & 74 two-bedrooms.
  • A total density of 6.73 FSR;
  • A building height of 201 ft. with an additional partial storey for a rooftop amenity space;
  • Three levels of underground parking with 98 vehicle parking spaces.

The application is being considered under the Cambie Corridor Plan.

When completed, the two towers will have a combined 426 rental units.

The architect for the project is Rositch Hemphill.

June 10, 2021by david.taylor@colliers.com
Apartment, Condo, Development

Wesgroup Envisions 241 Units for Balfour Block

Wesgroup has submitted their rezoning application for the ‘Balfour Block’, a unique 101,883 SF (2.3 acre) site located at West 18th Avenue and Laurel Street in the Cambie Village area, just East of Oak Street. The existing site contains 16 older duplex buildings that will be replaced.

The proposal calls for the development of a 6-storey rental building; a 6-storey condo building with a rooftop amenity and a childcare space on the ground floor and six 4-storey and two 3-storey stacked townhome buildings.

The proposal includes:

  • 241 total units;
  • 84 townhouses;
  • 57 condo units;
  • 100 secured rental units (with 25% at below-market rates);
  • A total density of 2.16 FSR;
  • Building heights of 37.5 ft. to 82.6 ft.;
  • 334 vehicle parking spaces and 630 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan and theRezoning Policy for Large Sustainable Developments.

Wesgroup acquired the site in 2015 for $46,200,000 or $210 per buildable SF based on the application.

The architect for the project is Formwerks.

February 8, 2021by david.taylor@colliers.com
Condo, Development

133-Unit Condo Project Slated for Cambie Corridor Site

Alabaster Homes has submitted a rezoning application for a land assembly of 8 single family residential lots at 4992-5138 Ash Street, one block West of Cambie and just North of West 35th Avenue.

This area was redesignated as part of the Cambie Corridor Phase 3 Plan in 2018 to allow condo buildings up to 4-storeys, or rental buildings up to 6-storeys (buildings fronting West 35th are permitted up to 6 storeys for condo or 8 storeys for rental). In this case, Alabaster has elected to pursue a condo development.

The proposal for this site is to allow for the development of two 4-storey buildings and one 6-storey building and includes:

  • 133 condo units;
  • 7 studios, 39 one-bedrooms, 59 two-bedrooms & 28 three-bedrooms;
  • A total density of 2.0 FSR;
  • A building height of 67 ft.;
  • 185 vehicle parking spaces and 242 bicycle parking spaces.

The proposal also accomodates a City requirement to dedicate the Southern 35 ft. to allow a dedication for the extension of West 35th from Cambie to Ash Street.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is GBL Architects.

December 1, 2020by 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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