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

Condo Tower Proposed for La Maison de la Francophonie Site in Fairview

La Maison de la Francophonie has submitted a rezoning application under the Broadway Plan to redevelop the property they own at 1551 West 7th Avenue, between Fir and Granville Streets in the Fairview neighbourhood.

The proposal is to allow for the development of a 21-storey condo tower above a replacement and expansion of La Maison de la Francophonie (French cultural centre) that includes retail space, a theatre, gallery/multi-purpose space, and office space for non-profit organizations.

  • 125 condo units;
  • A total density of 8.0 FSR;
  • A building height of 227 ft.; and
  • 204 vehicle parking spaces and 284 bicycle spaces.

This application is being considered under the Broadway Plan.

The architect for the project is Acton Ostry.

December 20, 2023by david.taylor@colliers.com
Apartment, Condo, Development

Beedie Envisions 1,000+ Units for Bainbridge Area Site

Beedie Living has submitted an application to rezone a 10-acre site that they own at 3676 Bainbridge Avenue in the Bainbridge Urban Village area of Burnaby.

The site is currently improved with older lowrise industrial buildings zoned M2 and M5 industrial.

The site became designated for mixed use residential when the Bainbridge Urban Village Community Plan was adopted by the City of Burnaby in 2022.

The preliminary application indicates that the overall development will include “a mixture of 6-storey below-market rental buildings, 6-12 storey strata buildings, and 4-storey stacked townhomes.”

Other details include:

  • 1,000 – 1,100 residential units;
  • 20% affordable rental units at 20% below CMHC median rents;
  • a total density of 2.20 FAR (970,000 SF)
  • road upgrades and new public green space.

The site has a current assessment value of $80,789,300.

This site is located near a similarly designated development site that we have just listed at 7022-7036 Greenwood Street.

October 17, 2023by david.taylor@colliers.com
Condo, Development

5-Storey, 19-Unit Condo Building Proposed for West Van

A development application by Pelagos Properties has been approved by the District of West Vancouver for 2711 Rodgers Creek Place, in the Rodgers Creek/Mulgrave area of West Vancouver above the Upper Levels Highway.

The proposal for the 37,000 SF steeply sloped site includes a 5-storey condo building and:

  • 19 units;
    • 1 one-bedrooms, 5 two-bedrooms & 13 three-bedrooms;
  • a total density of 1.0 FAR;
  • three levels of underground parking with 35 stalls.

The architect for the project is Folio Studio Architecture.

The site was acquired in 2019 for $11,000,000, or $300 per buildable SF based on the application.

August 29, 2023by david.taylor@colliers.com
Condo, Development

Polygon Planning 284 Condo Units for Coquitlam Centre Site

Polygon has submitted a rezoning application to the City of Coquitlam for a 2.6 acre site on Inlet Street in the City Centre area.

The property is currently occupied by 36 strata townhouses. The strata owners voted to wind-up the strata and sell the property to Polygon.

The site is designated Medium Density Apartment Residential in the OCP.

The proposal for the site includes:

  • Three 6-storey buildings;
  • 284 condo units;
    • 34 one-bedroom units; 220 two-bedrooms units & 30 three bedrooms;
  • a total density of 2.30 FAR;
  • 385 parking stalls.

The architect for the project is Integra Architecture.

June 9, 2023by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Up to 4,000 Units Envisioned for Columbia Square Site in New Westminster

A preliminary rezoning application has been submitted by Edgar Developments for the 7.2 acre Columbia Square Plaza Shopping Centre site in New Westminster.

The site at 88 Tenth Street is a large triangular shaped lot located in the Downtown neighbourhood bounded by Royal Avenue and Columbia and Tenth Streets. It is located about 100 meters from the New Westminster Skytrain Station.

The existing strip mall includes Save-On-Foods, BC Liquor Store, several banks and Pharmasave.

The site is designated Mixed Use High Density within the Downtown Community Plan and the general form of development is expected to be tower residential with a mix of retail, office and residential podiums interfacing with grade.

The proposal seeks to establish a master plan that would facilitate a multi-phased high density development that includes:

  • 6 to 8 residential towers;
  • replacement of existing retail;
  • minimum 120,000 SF of office space;
  • between 1.7-3.0 Million SF of residential space;
  • 2,200 to 4,000 units;
  • 10% inclusionary units;
  • community and public spaces.

The application is still preliminary and requires Council direction to authorize planning staff to work with the owners to refine the proposal before a formal rezoning application will be considered.

The site was acquired by Edgar in 2022 for $136,000,000.

June 9, 2023by david.taylor@colliers.com
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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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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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