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.
  • About
  • Listings & Sales
  • Thinking of Selling?
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
Apartment, Development, Retail

9-Storey Rental Building Planned for Granville Street Site

A development application has been submitted to the City of Vancouver to develop a new mixed-use rental apartment building on the Granville Strip. The site at 1250 Granville Street is 8,998 sq ft and is currently occupied by the National Rental Car building and parking lot.

The redevelopment plan for the site is a 9-storey passive house rental apartment building with retail on the ground floor.

The application comes following the City’s current planning work to consider allowing more rental housing on the two block stretch of Granville between Helmcken and Drake Streets. Previous policy allowed a maximum of 3.50 FSR.

Details of the proposal include:

  • 61 market rental units;
  • 46 one-bedrooms & 15 two-bedroom units;
  • 2,425 sq ft of ground floor retail space;
  • a total density of 4.54 FSR;
  • a building height of 95 ft.;
  • shared rooftop amenity space;
  • 22 parking stalls on one level of underground parking having vehicular access from the lane.

Under the site’s existing DD-K3 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Development Permit Board.

The architect for the project is Lang Wilson Practice in Architecture Culture.

August 5, 2021by david.taylor@colliers.com
Development, Office, Retail

Reliance Proposes Rehab & Mass Timber Addition at 837 Beatty Street

Reliance Properties has submitted a development application to rehab and expand a building that they own at 837 Beatty Street in Downtown Vancouver.

The plan includes preserving the existing 2-storey heritage warehouse/office building constructed in 1911, and adding three additional floors of office space. The site is zoned DD is 6,992 SF.

A previous proposal for a 26-storey residential tower was not supported by the City due in part to shadowing on Terry Fox Plaza.

Details include:

  • retail uses on the ground floor;
  • office uses on the 2nd to 5th floors;
  • rooftop amenity space;
  • a total building area of 39,000 SF;
  • modern mass timber beams and columns and laminated timber floors;
  • steel elements to provide code compliant lateral resistance;
  • a building height of 90 ft.;
  • a density of 5.50 FSR including a 10% heritage density bonus;
  • loading is located in the lower level having vehicular access from the lane.
Existing Building

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

Reliance acquired the site in 2015 for $9,880,000.

The architect for the project is OMB Architects.

August 23, 2020by david.taylor@colliers.com
Development, Retail

6-Storey Building Planned for Granville & Drake Corner Lot

A development application has been submitted for the Northeast corner of Granville and Drake Streets in Downtown Vancouver. The corner has long been home to 7-Eleven.

The 50 foot (6,000 SF) corner lot was sold in February 2019 for $8,000,000. The zoning is DD.

The plan for redevelopment of the site is a 6-storey, mixed-use building that includes:

  • 29 residential units;
  • 24 one-bedrooms & 5 two-bedrooms;
  • 1,300 SF of retail space;
  • a total density of 3.50 FSR;
  • a building height of 70 ft.;
  • 3 at grade parking spaces having vehicular access from the rear lane.

The application describes the design rationale: “The proposal seeks to develop a single linear corner site to accommodate a stacked 6-storey building comprising of a single level of commercial use on the ground floor and five levels of residential units above. The building will be serviced by a single basement level housing bicycle parking, bulk-storage lockers, and service rooms.

As per the guidelines, there is zero building setback along the Granville and Drake Street sides, and a 15’ building setback along the lane edge. The main commercial space on the ground floor is located on the corner of Granville and Drake, allowing for continuous commercial continuity along Granville and a strong anchoring exposure to the corner of the street intersection. This commercial space is serviced by a Class B loading bay at the lane side, connected via a loading corridor that runs along the firewall edge of the building.


The residential entry is accessed off the quieter Drake Street side, providing clear visual identity away from the commercial corner. The five residential levels above house a total of 29 units consisting of junior one bedroom unit, regular one bedroom units, and larger two bedroom units. Each unit has access to a private balcony and a designated bulk-storage locker in the basement.”

The architect for the project is GBL Architects.

May 15, 2020by david.taylor@colliers.com
Apartment, Development, Office, Retail

Renovation of Vacant Downtown Building to Include Retail, Office & Apartment Uses

A development application has been filed to rehabilitate a vacant commercial building in the Crosstown area of Vancouver. The existing 4-storey commercial building at 41 West Pender was previously used as a warehouse for a nearby department store and has been vacant for several years.

This proposal is to add two storeys of woodframe secured rental residential to the existing building, while maintaining office and retail uses in teh existing building. The
current zoning (DD-C2) allows for 5.0 FSR, with an additional 1.0 FSR permitted if all Residential is Secured Market Rental. The existing lot is 50 x 120.

Details include:

  • 5,872 SF of retail uses on ground floor;
  • 18,515 SF of office use on levels 2-4;
  • 9,511 SF of residential uses on 5 & 6;
  • 16 market rental units (all studios);
  • an amenity roof patio;
  • a building height of 97 feet;
  • a total density of 5.65 FSR (including Transferable Heritage Density); 
  • two parking stalls accessed from the lane.

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The application describes the building program: “The existing building is a hybrid of concrete, concrete block, steel frame with solid wood joists with concrete topping. The facade is cast in place concrete, front and back, with composite masonry block firewalls. This solid building has good potential for renovation which is not only sustainable but can allow for its occupation in shorter timelines than full demolition and rebuild. The Structural Engineers were consulted from the outset and have provided the parameters of what is and what is not possible with existing structure.

For the proposal to be feasible the renovation hinges on retaining the bulk of the primary structure and adapting the fabric to meet the new use and codes with new shared stair and elevator core. The two levels of residential need to be constructed of light wood frame.”

The architect for the project is Metric Architecture.

April 10, 2019by david.taylor@colliers.com
Condo, Development, Office, Retail

47-Storey Proposed for Burrard and Davie

A rezoning application has been submitted by Prima Properties for 1157 Burrard Street, a former gas station site at the Northwest corner of Burrard and Davie Streets that has been used as a community garden for several years.

The 21,605 SF site was designated for rezoning in 2014 under the West End Community Plan. It is currently zoned DD (Downtown District) and C-5 (Commercial).

The plan for the site is a 47-storey mixed-use tower that includes:

  •  236 condo units;
  • 50 hotel units or 50 more residential units; 
    • 65 studios, 111 one bedrooms & 110 two-bedrooms;
  • building height of 480 ft.;
  • a total density of 13.99 FSR;
  • 25,000 SF of commercial space, including;
    • 17,000 SF of office space;
  • a 37-space public childcare facility
  • 265 vehicle parking stalls and 400 bicycle spaces.

The application describes the design rationale: “The project proposes a new benchmark for site and city-specific architectural creativity and excellence through several distinctive measures. The west façade is proposed as a dynamic ever-changing mosaic responding to solar movement. In the morning when no direct sun falls on the elevation, the façade forms a sleek glass envelope animated by balconies. As the sun comes around to the south and west, exterior vertical solar control blinds start to animate the façade, with the sun exposure lowering them sequentially. As the sun rotates further to the west, the
blinds gradually form a veil, a pixilated abstraction of the Westcoast landscape ground to sea to sky. As afternoon turns to evening, the blinds retract once again to reveal the glowing glass envelope by night, as lights illuminate from the inside. The blinds have both an aesthetic and a sustainable design role, reducing solar heat gain and glare from low angle west sun. The concept is inspired by the Electra, the former BC Hydro building on Burrard Street. Electra makes explicit reference to the Westcoast landscape in its design and ornamentation, a major innovation at the time the tower was built.

In addition to the dynamic nature of the west façade–visible from both Burrard Street and Davie Village– the building is shaped like a flatiron as you approach the Downtown along Burrard Street. Consequently, the building is exceptionally slender compared to other towers. The balconies along the leading edge further animate this impression, by faceting towards the west as the tower rises. This shape forms an invitation towards Davie Village
and the West End as the tower addresses ceremonial Burrard Street. At grade, the corner plaza provides a public destination, welcoming visitors to Davie Village. The building canopy gathers rainwater and directs it to a small symbolic wetland at the corner, providing a pleasant place to gather and evoking the Westcoast landscape concept of the building. The project elevators offer outlook to Burrard Street in the podium and at the rooftop, providing spectacular views out for building users. At the rooftop a viewing platform forms part of the Residential Amenity with vistas to the fireworks of English Bay.”

This application is being considered under the West End Community Plan and the Rezoning Policy for the West End.

The architect for the project is Merrick Architecture.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/1157burrard/index.htm

March 18, 2019by david.taylor@colliers.com
Page 1 of 212»

Thinking of selling?

I track every commercial sale in Metro Vancouver. If you're wondering what your property is worth, I can give you an informed view.

Get an Opinion of Value

David Taylor · Colliers · 604-761-7044

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


David Taylor Personal Real Estate Corporation

Colliers International

DT

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.

© 2019 Copyright  |  All Rights Reserved