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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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

31-Unit Condo Building Slated for West 49th Ave

A rezoning application has been submitted by Ning Hua Development for a two lot land assembly on West 49th Avenue, just West of Cambie Street.

The proposal for the 13,677 SF site at 564-570 West 49th Avenue is to rezone from the current from the current RS-1 zoning to allow a new 4-storey residential building with rooftop amenity, over one level of underground parking and includes:

  • 31 condo units;
    • 6 studios, 13 one-bedrooms, 8 two-bedrooms & 4 three-bedrooms;
  • a total density of 1.95 FSR;
  • a building height of 65 ft.; and
  • 31 underground parking spaces and 40 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Fougere Architecture.

The site was acquired in 2016 for $6,600,000, or $233 per buildable SF based on the rezoning application.

August 22, 2019by david.taylor@colliers.com
Condo, Development, Retail

131-Condo Building Proposed for East Hastings Site

Reliance Properties has submitted a rezoning application for a site on East Hastings Street in the Grandview Woodland area of East Vancouver.

The 29,158 SF site, 1943-1967 East Hastings Street, is located at the northwest corner of Semlin Drive and East Hastings Street, three blocks from Commercial Drive. It is currently zoned MC-2 and improved with one-storey commercial buildings including: an auto repair shop, sushi restaurant, pharmacy and social club.

The proposal consists of an 8-storey mixed-use building over three levels of underground parking and includes:

  • 131 condo units;
    • 65 studios, 21 one-bedrooms, 39 two-bedrooms & 13 three-bedrooms;
  • 18,246 SF of commercial space at grade;
  • a total density of 4.01 FSR;
  • a maximum building height of 86 ft.; and
  • 169 underground parking spaces and 300 bicycle spaces.

This application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Dialog.

August 22, 2019by david.taylor@colliers.com
Condo, Development, Retail

219 Condos Proposed for Kingsway Site

Coromandel Properties has applied to rezone the former Harvey’s Furniture site at 2725-2751 Kingsway, at the Northwest corner of Duke Street. The 49,893 SF site is zoned C-2 and RS-1 but is located in the Norquay Village Neighbourhood Centre Plan which allows rezoning for higher density.

The proposal consists of a mixed-use building at 4-, 5-, and 10-storeys over three levels of underground parking with:

  • 219 condo units;
    • 1 studio, 118 one-bedrooms, 78 two-bedrooms & 22 three-bedrooms;
  • 18,137 SF of retail on the ground floor;
  • A total density of 3.78 FSR;
  • A maximum building height of 116 ft.; and
  • 259 underground parking spaces and 414 Class A bicycle spaces.

The application describes a unique aspect of the building’s lighting strategy: ” Much like how the old lit signs along Kingsway changed between day and night, the intention of the project is to have lighting integrated into architectural components (balconies) to transform the project throughout the day. Without lighting elements, the building fit into the context of the neighbourhood, however, as day turns to night, the intention is that the project transforms and visually marks this special site in the Norquay Village Neighbourhood Plan.”

The application is being considered under the Norquay Village Neighbourhood Centre Plan.

The architect for the project is GBL Architects.

Coromandel assembled the site in 2017 for a combined $40,000,000, or $212 per buildable SF.

July 24, 2019by david.taylor@colliers.com
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

Redevelopment Eyed for 7-Acre Taylor Way Site In West Vancouver

A preliminary development proposal has been submitted to the District of West Vancouver for a large property known as Taylorwood Place at the Northeast corner of Taylor Way and Keith Road.

Taylorwood Place is a 21-lot single family bare strata subdivision built in the 1970’s. A single entity, Taylorwood Investments Ltd., owns 19 of the 21 lots and is seeking to control 100% in the near future. 

The 6.56 acre site has been the subject of past attempts at redevelopment, including in 2010 by Polygon Homes who were seeking to build 160 condos on the site at a density of 0.75 FAR. For various reasons, that plan did not proceed.

Current planning efforts have been underway since 2015 and have been delayed pending a forthcoming Taylor Way Corridor study which is likely to occur by 2020. The proponent is now seeking community feedback and is offering public benefits in exchange for an OCP amendment.

After various stages of community consultation since 2017, the current version of the development proposal is summarized as follows:

  • 390 units (condo and rental, with at least 40% of the units rental);
  • 473,000 SF of gross buildable area;
  • a total density of 1.66 FAR;
  • five terraced mid-rise apartment forms (3-6-storeys);
  • community facilities including childcare;
  • underground parking.

Council will consider the direction of a preliminary development proposal for Taylorwood Place at its meeting on July 15, 2019. A rezoning application has not been received at this time.

The architect for the project is NSDA Architects.

July 11, 2019by david.taylor@colliers.com
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16 Apr

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

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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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16 Apr

West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave

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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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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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