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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Apartment, Development

Rental Building Proposed for West 4th Thrift Store Site

A rezoning application has been submitted for the Southwest corner of West 4th & Cypress in Kitsilano, currently improved with the Salvation Army Thrift Store and a detached house.

The 10,496 SF site is currently zoned C-2B. The plan for the site is a new 5-storey mixed-use building that includes:

    • 32 market rental units;
    • 1 studio unit, 7 one-bedrooms, 18 two-bedrooms & 6 three-bedrooms;
    • 4,205 SF of retail space on the ground floor;
    • a total density of 3.13 FSR;
    • a building height of 62 ft.; and
    • 2 levels of underground parking.

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is Rositch Hemphill Architects.

February 20, 2018by david.taylor@colliers.com
Apartment, Development, Retail

6-Storey Rental Building Planned for Hastings Heights

A rezoning application has been submitted for a new rental apartment building on a 66′ lot on the South side of East Hastings Street in the Hastings Heights area of Vancouver. The site totals 6,762 SF and is currently zoned C-2C1.

The plan for the site at 3532 East Hastings Street is to rezone under Rental 100 for a 6-storey building, consisting of:

    • 34 secured market rental units;
    • 2,021 SF of retail space at grade;
    • a total density of 4.08 FSR;
    • a building height of 67 ft.; and
    • 1 level of underground car parking with 24 stalls.

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is Gair Williamson Architects.

The property last sold in June 2016 for $3,100,000 or $83 per buildable SF based on the rezoning application.

January 25, 2018by david.taylor@colliers.com
Apartment, Development, Retail

40-Unit Rental Building Planned for Kingsway

Conwest Group has submitted an application to rezone a 10,676 SF mid-block site at 3070 Kingsway from C-2 to CD-1 to allow a 6-storey mixed-use building with a 3-storey townhouse development at the lane, consisting of:

  • 40 secured market rental units;
  • 3,080 SF of retail at grade;
  • A total density of 3.27 FSR;
  • A height of approximately 60 ft.; and
  • 24 parking spaces.

The site is located on the South side of Kingsway between Rupert and Kerr Street, just south of the Joyce Collingwood neighbourhood. It is currently improved with a nondescript retail building.

The application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is GBL Architects.

The site was acquired in October 2015 for $3,750,000 or $106 per buildable SF based on the application.

December 20, 2017by david.taylor@colliers.com
Apartment, Development, Retail

Apartment Building Planned on Small East Van Lot

Rejoyce Investment Corp. has submitted a rezoning application to rezone a single 38 x 112 ft. commercial lot at 4459 Rupert Street, between East 28th and East 29th Avenue. The building is to be called “The Monad on Rupert Street”, modeled after a similar 5-unit building constructed in Kits in 2010. 

The existing zoning of the 4,270 SF site is C-1 (Commercial), and the plan is to redevelop  site with  a 4-storey mixed-use building. This is a concurrent rezoning and development permit application.

The proposal includes:

    • 14 rental apartment units;
    • Four studios, 5 one-bedrooms & 5 two-bedrooms;
    • 2,424 SF of retail space;
    • A total density of 2.40 FSR;
    • A building height of 49 ft.; and
    • 9 parking spaces and 30 bicycle parking spaces.

4459 Rupert 4459 Rupert_2 4459 Rupert_12nd Floor Plan

2nd Floor Plan

This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

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

July 4, 2017by david.taylor@colliers.com
Apartment, Development, Retail

Rental 100 Project Planned for Main & 51st Corner

SKA Property Inc. has submitted a rezoning application under Rental 100  for a 7,712 SF site at the corner of Main and 51st Avenue in the Punjabi Market neighbourhood. The site is currently home to an older 3-storey building that is vacant.

The plan for the site at 6679 Main Street is to rezone from the existing C-2 zoning to allow a 6-storey mixed use building with commercial space at grade, including:

  • 28 rental apartment units;
  • 2 studios, 13 one bedrooms, 9 two bedrooms and 4 three-bedrooms;
  • 3,071 SF of ground floor retail space;
  • a total density of 3.62 FSR;
  • a building height of 70 ft.; and
  • 28 vehicle parking spaces.

6679 Main 6679 Main_16679 Main_36679 Main_2The application notes that the developer’s team are East Indian and intend on using the ground floor for their family business: a vegetarian grocery store.

The application is being considered under the Secured Market Rental Housing (R100) Policy.

The architect for the project is F. Adab Architects Inc.

May 24, 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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