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

6-Storey Rental Building Planned for Kingsway

Another week, another rental apartment building rezoning application under the City of Vancouver’s Rental 100 program. This one is for a 12,300 SF site (99′ x 122′) located on the North side of Kingsway near Fraser Street. The application to for 855 Kingsway calls for a rezoning from the existing C-2 zoning to CD to permit the development of a six-storey mixed-use building. This is a concurrent rezoning and development permit application.

The proposal includes:

    • 49 secured market rental units;
    • 14 studios, 18 one-bedrooms, 12 two-bedrooms and 5 three-bedroom units
    • 4,043 SF of retail at grade;
    • A total density of 3.30 FSR;
    • A building height of 68.9 ft.; and
    • 25 underground parking spaces.

855 Kingsway855 Kingsway_1 855 Kingsway_2This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is Cornerstone Architecture.

The site had sold in 2015 for $3,668,000, or approximately $91 per buildable SF.

February 28, 2017by david.taylor@colliers.com
Apartment, Development

Infill Apartment Building Planned for Arbutus Corridor

Strand Development has submitted a rezoning application for a 10,881 SF site on West 12th Avenue, next to the Arbutus greenway. The site is currently improved with an older commercial building occupied by Blenheim Import Auto Service. 

The plan for the site calls to rezone from the existing C-7 commercial zoning to permit the development of a 6-storey residential building. The proposal includes:

    • 48 rental apartment units;
    • 3 studios, 20 one-bedrooms, 15 two-bedrooms and 10 three-bedrooms
    • A total density of 3.47 FSR
    • A building height of 63.75 ft.; and
    • 20 underground parking spaces.

2075 West 12th2075 West 12th_2 2075 West 12th_1 The application is being made under the Rental 100 policy.

The architect for this project is Yamamoto Architecture.

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

Plan for West Broadway Denny’s Site Includes 153 Rental Units

A rezoning application has been submitted for the “Denny’s” site at 1296 West Broadway. The site was sold in February 2016 to Jameson Development Corp for $26,250,000. The rezoning for the 18,762 SF site call for a 16-storey mixed-use building with apartments above retail and a small office component. The proposal includes:

    • 153 rental apartment units;
    • 27 studios, 70 one-bedrooms, 41 two-bedrooms & 15 three-bedrooms
    • 30,220 SF of retail space on two levels
    • 4,891 SF of office space
    • A total density of 7.07 FSR;
    • A building height of 159 ft.; and
    • 168 parking spaces

1296-west-broadway_11296-west-broadway_4 1296-west-broadway_2 1296-west-broadway_3 This application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is IBI Group.

The land sale from last year equates to $198 per buildable SF based on the anticipated rezoning.

January 11, 2017by david.taylor@colliers.com
Apartment, Development

Plans Unveiled for 104-Unit Rental Building in Southeast False Creek

Cressey Development Group has filed an application to rezone a 12,169 SF site that they own at the corner of West 1st Avenue and Cook Street, just West of Olympic Village. The site sits directly East of their previously completed project “The James”.

The plan calls to rezone from the M-2 industrial zone to CD to permit the development of a 10-storey rental residential building, including:

  • 104 rental apartment units
  • 51 studio units, 27 one-bedrooms, 20 two-bedrooms and 6 three-bedrooms
  • a total density of 5.03 FSR
  • a building height of 99 feet
  • 50 underground parking spaces

1715-cook_3 1715-cook_2 1715-cook_1

The application is being considered under the Southeast False Creek Official Development Plan and Secured Market Rental Housing (Rental 100) Policy.

Cressey acquired the site in December 2015 for $16,000,000, or $261 per buildable SF based on the expected rezoning.

The architect for the project is Chris Dikeakos Architects.

November 10, 2016by david.taylor@colliers.com
Apartment, Development

101 Rental Apartments Planned for Kingsway Site

Hua Long International Technical Investment has applied to the City of Vancouver to rezone a 27,764 SF, C-2 zoned site at 2153-2199 Kingsway (at the Northwest corner of Gladstone) for a 6-storey rental apartment building.

The proposal includes:

    • 101 market rental apartment units;
    • 45 studio units, 18 1-bedroom units, 31 two-bedrooms & 7 three-bedrooms
    • A total density of 3.37 FSR (93,651 SF);
    • 14,499 SF of ground-floor retail space;
    • A building height of 71.4 ft.;
    • Two floors of underground parking, with access from the lane to the north of the site.

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

The site, which comprises four separate lots, had been assembled over a period between 2010 and 2015.

2153-kingsway2153-kingway_2 2153-kingsway_1The rezoning application can be viewed here.

The architect for the project is IBI Group.

September 28, 2016by 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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