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

358-Unit Development Proposed for Port Moody Site

Centra Development Ltd. has submitted a rezoning application to the City of Port Moody for the property located at 50 Electronic Avenue, a 146,000 SF vacant former industrial property located between Murray Street and the Skytrain and CPR line.

The site is designated in the OCP as Mixed Use – Moody Centre, which allows up to 6-storeys in height.

The application proposes a mixed-use development comprising:

  • 358 condo units;
  • 116 one-bedrooms and 242 two-bedrooms;
  • 18,212 SF of commercial space;
  • a total density of 2.62 FAR;
  • 598 underground parking spaces on one level.

The architect for the project is Ciccozzi Architecture.

June 14, 2018by david.taylor@colliers.com
Apartment, Development

229-unit Rental Development Planned for Port Moody Site

PC Urban has applied to the City of Port Moody to redevelop a former mobile home park property sold by our team in 2017. The site, at 3370 Dewdney Trunk Road (on the Coquitlam border) is located within the Inlet Centre Station Transit Oriented Development Area and is designated in the OCP for up to 4-storeys. The site is just a few minutes walk to Inlet Centre Station.

 

The application is for rezoning and an OCP amendment to allow for a new 6-storey rental project. Details include:

  • 229 rental units;
  • 86 one-bedrooms, 138 two-bedrooms and 5 three-bedrooms;
  • a total density of 2.78 FAR;
  • 205 underground parking spaces.

 

The architect for the project is NSDA Architects.

June 14, 2018by david.taylor@colliers.com
Development

City of Port Moody Lands to be Rezoned for Towers in Advance of Sale

The future sale and redevelopment of Port Moody’s former Fire Hall and current Works Yard sites has reached a new milestone. The proposed OCP amendment and rezoning goes to City Council next week after achieving support of the City’s community planning advisory committee.

The future redevelopment of the two City-owned properties has been in the works for some time. The City’s plan is to rezone the lands for high density mixed-use before selling them to developers and moving the works yard to a site on Barnet Highway. 

The properties are located along Murray Street at the corner of Ioco Road, and have a combined site area of approximately 4.7 acres. The sites are located South of the well-established Suterbrook Village, and just West of Newport Village. Inlet Centre Skytrain Station is located just one block South.

The application proposes a change to the existing OCP land use designation of Public and Institutional and Parks and Open Space to Mixed Use – Inlet Centre. The lots will be legally subdivided potentially paving the way for the sites to be sold separately.

Details for the potential new development(s) under the proposed rezoning includes:

  • building heights up to 34-storeys;
  • potentially 3 to 4 towers and 1 to 3 lowrise buildings;
  • uses including:
    • multifamily
    • seniors housing
    • civic uses (library, plaza)
    • park
    • retail and office
    • child care
  • a maximum buildable area of 940,000 SF;
  • a maximum of 610,000 SF for market residential;
  • potential for 186,000 SF more market residential in exchange for amenities and/or non-market housing;
  • a multi-use pathway.

The City estimates that the RFP for sale would be released to the development community in April and that a potential sale (or sales) would be completed later this year. Work could begin on the Fire Hall site as early as next year, with the Works Yard site starting in 2020/2021.

The site is being rezoned and sold at a time of unprecedented development activity in Port Moody with several large scale developments in the pipeline at various stages of development, including: the Flavelle Mill site, Westport Village (Andres Wines) site, Onni’s latest tower “The Grande” at Suterbrook, a proposal by Berezan Group for three towers, and a pending sale of a multi-tower site in the Coronation Park neighbourhood.

Further detail on the City owned sites can be viewed on the City’s websites: http://www.portmoody.ca/index.aspx?page=1422

February 9, 2018by david.taylor@colliers.com
Development

142-Unit Rental Project Planned for Port Moody

Woodbridge Properties has submitted their formal application to develop a rental apartment project on a site at 3131-3137 St. Johns Street, on the South side of the street between Moray Street and James Road. The site is located 600 metres from Inlet Centre Station. The application, first introduced to the public last summer, requires an OCP amendment, rezoning and development permit, and will now go forward for council’s consideration.

Plans call for a new 6-storey building that includes:

  • 142 rental apartment units;
  • 6 studios, 59 one-bedrooms, 72 two-bedrooms and 5 three-bedrooms;
  • A total density of 3.20 FAR;
  • 180 underground parking spaces;
  • A total building height of 60.4 ft;
  • An on-site children’s amenity space.

 

January 19, 2018by david.taylor@colliers.com
Development

SOLD: 2.1 Acre Port Moody Development Site

We are pleased to announce the sale of 1865-1895 Charles Street, a 2.1 acre medium density residential development site located just West of Port Moody’s town centre area.

Please contact us for further information.

December 21, 2017by david.taylor@colliers.com
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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.

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