Source: REBGV Stats

By ChangingCity

The mystery was that as far as we knew there wasn’t either a rezoning or development application submitted, although the building was being marketed. The design by Musson Cattell Mackey initially was for a 9-storey building with 77,000 sq ft of space (right).

Now there’s a development application, it’s a 10 storey building, and the design has evolved into something that looks really much more interesting. Our image shows the view down Seymour, looking north. There are angled glazed sections in the Seymour facade that don’t show up well from this angle, but which add an extra level of variation on what is really a very efficient block floorplate.

The Urban Design panel are due to see it in April 2014, and given a positive response it’s scheduled for the Development Permit Board in June.

 …read more

Source: Changing City

Concerns are emerging that a building boom of office towers in downtown Vancouver is creating far too much supply.

Only half the 2.18 million square feet of new office space in seven towers under construction downtown — a boom enabled by new zoning bylaws in 2009 — has been preleased, executives at the Vancouver Real Estate Forum said Thursday.

“I am not seeing a lot of office demand right now, and that is concerning to me,” Bart Corbett, senior vice-president of Cushman & Wakefield, said in an interview.

Corbett and other executives discussed office space development and economic trends at a panel discussion titled “The Vancouver Hangover?”

A common theme was that Vancouver’s commercial real estate market is slowing. The panel was asked how eager landlords are to offer inducements to would-be tenants, and which sectors among high-tech startups, resource industry offices, or “slow and steady” traditional businesses, are preferred.

Read more: http://www.theprovince.com/business/real+estate+executives+gather+discuss+Vancouver+housing+trends/9530873/story.html

As we ring in the New year, an analysis of the REBGV’s Housing Price Index for apartment/condo’s on Vancouver Westside, including Downtown, shows that pricing has been flat for over two years now.

Resales values have likely been suppressed amid a large amount of new inventory coming to market; particularly in areas like Southeast False Creek and Cambie Corridor.

Bentall Kennedy has submitted a rezoning application for the site it owns at 1090 West Pender Street, currently an 11-storey office building.

Bentall acquired the property from West Pender Property Group in 2011 for $19,500,000 as part of a transaction that included a trade of 50% interest in 1050 West Pender Street.

The plan calls for a new 31-storey office building with:

• 564,000 SF of office space with retail and service uses on the lower two levels;
• 486 underground parking spaces;
• a total density of 18.0 FSR
• a total height of 403 ft. (about the same height as Bentall 3)

Link to the full rezoning application: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/1090wpender/index.htm