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

29-Units Planned for South Cambie Site

A rezoning application has been submitted for a 10,545 SF mid-block site at 7843 Cambie Street, just North of West 63rd Avenue. The site is currently improved with a duplex.

The proposal consists of a new-6 storey building, and includes:

  • 29 condo units;
    • 13 one-bedrooms, 13 two-bedrooms & three 3-bedroom units;
  • a total density of 2.74 FSR;
  • a building height of 61 ft.; and
  • 29 underground parking spaces and 29 bicycle spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is GUD Group.

The site was acquired in 2017 for $7,238,000, or $250 per buildable SF based on the application.

July 16, 2019by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Two Tower Project Proposed for Cambie & 41st Site

Polygon has submitted their application to rezone the 34,000 SF Oakridge Plaza site that they own at the Southeast corner of Cambie & West 41st Avenue, across from Oakridge.

5740 Cambie Street is currently zoned C-2 and is improved with two office buildings leased to mostly medical tenants.

The rezoning proposal consists of a mixed-use development with a 14-storey market rental tower and a 27-storey market strata tower and includes:

  • 80 market rental units;
    • 10 studios, 31 one-bedrooms, 39 two-bedrooms;
  • 133 condo units;
    • 14 one-bedrooms, 104 two-bedrooms, 14 three-bedrooms & one penthouse;
  • 12,500 SF of retail space;
  • 20,800 SF of market office space;
  • 46,000 SF of non-profit office space;
  • a total density of 8.61 FSR;
  • tower heights of 278 ft., and 148 ft.;
  • 288 underground parking spaces and 559 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Dialog.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/5740cambiest/index.htm

June 24, 2019by david.taylor@colliers.com
Condo, Development

23-Unit Condo Building Proposed for West 41st Avenue

A rezoning application has been submitted for a two-lot land assembly on West 41st Avenue, East of Cambie. The site at 187-195 West 41st Avenue is 10,820 SF in size and zoned RS-1 (One-Family Dwelling). The proposal for the site consists of a 4-storey residential building and includes:

  • 23 condo units;
    • 8 one-bedrooms, 12 two-bedrooms & 2 three-bedrooms;
  • a total density of 1.80 FSR;
  • a building height of 41 ft.; and
  • 26 underground parking spaces and 50 bicycle spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The architect for the project is Integra Architecture.

June 21, 2019by david.taylor@colliers.com
Condo, Development

First Cambie Phase 3 Townhouse Application Seeks 30 Units

The first townhouse development application has come forward under the Cambie Corridor Phase 3 Plan, which was adopted by city council in the summer of 2018. Close to 1,000 lots were designated for townhouse development, with a small portion rezoned to RM-8A by the City as a first ‘zone’ for immediate development.

Redekop Kroeker Development has applied to the City of Vancouver for permission to develop a 5-single family lot land assembly on West 29th Avenue is just West of Cambie Street. The site at 535 West 29th Avenue is 34,761 SF in size.

The plan for the site is for eight 2 & 3-storey courtyard rowhouse buildings, and includes:

  • 30 three bedroom units;
  • a total density of 1.20 FSR;
  • total building height of 38 ft.;
  • 42 parking spaces on one underground level.

Under the site’s existing RM-8A 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 Gateway Architecture.

April 4, 2019by david.taylor@colliers.com
Apartment, Condo, Development

Redevelopment of South Vancouver YMCA to Include 158 Condo Units

A rezoning application has been for the Langara Family YMCA property at West 49th Avenue and Alberta Street. The site sits just West of Langara College, and North of Langara Golf Course. 

The redevelopment of the 87,103 SF site at 282 West 49th Avenue entails rezoning an existing CD zone, to allow complete redevelopment of the existing YMCA facility to double the scale of the facility. The redevelopment concept has been consulting with the community and facility users for over a year.

The proposal consists of:

  • a 5-storey YMCA replacement facility, including childcare, recreation (fitness, gym, and aquatic facilities), community spaces, and a cafe;
  • a 13-storey non-market residential building containing 70 units;
    • 11-studios, 24 one-bedrooms, 26 two-bedrooms & 9 three-bedrooms;
  • a 20-storey market residential building containing 158 condo units;
    • 41 one-bedrooms, 85 two-bedrooms & 32 three-bedrooms;
  • a total density of 3.53 FSR;
  • Total buildings heights of 198 ft. for the condo tower, and 145 ft. for the non-market tower.
  • underground parking with 339 vehicle parking spaces and 545 bicycle parking spaces.

This rezoning application is being considered under the Cambie Corridor Plan.

The YMCA of Greater Vancouver anticipates that construction would start in 2021 and be completed in 2023.

The architect for the project is Stantec.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/282w49thave/index.htm

March 27, 2019by 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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