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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Development

168-Unit Project Proposed for Capstan Village Area of Richmond

Polygon Homes has applied to the City of Richmond for permission to rezone
lands in the City Centre’s Capstan Village area at 3551,3571,3591,3611, and 3631 Sexsmith Road, between Capstan Way and Cambie Road, to allow a new 13-storey high-rise residential development. The combined site totals 89,044 SF (67,000 after road dedication) in size and is comprised of five vacant single family lots.

The site is designated Urban Centre T5 in the City of Richmond’s City Centre Area Plan. The project lies just East of Polygon’s completed three tower project “Avanti”.

Details of the project, entitled “Fiorella” include:

  • 157 condo units;
  • 7 studios, 17 one-bedrooms, 112 two-bedrooms & 32 three-bedrooms;
  • 11 affordable rental units;
  • 779 SF of community amenity space in the form of two rentable-affordable-work studios for professional artists;
  • a total density of 2.62 FAR;
  • a total building height of 133 ft.

The architect for the project is Francl Architecture.

April 12, 2018by 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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