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

155-Unit Rental Building Planned for East Van Site

Strand Development has submitted an application to rezone a 44,372 SF triangular site at the corner of Victoria Drive and Stainsbury Avenue for a new rental apartment project.  The site is two former light industrial lots that are zoned MC-1. The proposal includes:

    • A 6-storey rental apartment building
    • A total of 155 market rental apartment units, including six live-work units;
    • 43 studios, 44 one-bedrooms, 41 two-bedrooms and 21 three-bedrooms
    • A floor area of 108,912 SF;
    • A density of 2.46 FSR;
    • A building height of 61 ft;
    • 101 residential parking spaces and one Class B loading space; and
    • 194 Class A and six Class B bicycle parking spaces.

The application also involves the reconfiguration of lots by relocating a lane and consolidating two lots previously separated by a lane.

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

3681-victoria_1 3681-victoria

September 8, 2016by david.taylor@colliers.com
Apartment, Development

Rental Apartments Planned for East Vancouver Site

Decorus Developments has filed a rezoning application for a C-1 zoned strip retail property at the corner of Broadway and Renfrew in East Vancouver. The plan for the site at 2894 East Broadway calls for rezoning from the existing C-1 to allow a new rental apartment buildings that includes:

    • A new 4-storey building
    • Commercial use at ground level;
    • Total of 37 secured market rental units on the 3 upper storeys;
    • A height of 46.4 ft.;
    • A density of 2.65 FSR.

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

2894 East Broadway_12894 East Broadway 2894 East Broadway_2

February 16, 2016by david.taylor@colliers.com
Apartment, Development

92-Unit Rental Building Planned for East Hastings

PCI Group has filed an application to rezone a property they own at 2805 East Hastings Street, most commonly known as a Burger King for many years. The plan for the 24,902 SF, C-2C1 zoned site is to develop a six-storey rental building with retail on the ground floor. The proposal includes:

    • 92 rental apartment units;
    • 18,300 SF of CRU retail on the ground floor;
    • a density of 3.84 FSR
    • a building height of 70.2 ft. ; and
    • 97 underground parking spaces.

This application is being considered under the Rental 100 Program and is possible due to the site’s location on a main arterial street. The site has 204 feet of frontage on Hastings.

2805 E Hastings

The application describes the development as follows:

“Located on the Hastings corridor, the project provides for a ground floor containing small scale retail CRU’s with five storeys of residential use consisting of 92 residential rental units, which include 55 one-bedroom units (average size of 544sf), 32 two-bedroom units
(average size of 742sf) and 5 three-bedroom units (average size of 1,000sf).


The project incorporates one and a half levels of underground parking with access at the northeast corner from the lane. A modest size amenity space is located on the sixth floor with an adjacent landscaped outdoor terrace. The elevators provide access to a roof garden.”
2805 E Hastings_2 2805 E Hastings_3 2850 E Hastings_1
The architect for the project is Burrowes Huggins Architects.


PCI Group acquired the site in August 2015 for $11,100,000. It was listed and sold by Casey Weeks and Steve Fame of Colliers.
October 17, 2015by david.taylor@colliers.com
Apartment, Development, Retail

Redevelopment of Mt. Pleasant Dealership Includes Apartments

A rezoning application has been filed for a 46,563 SF site at 445 Kingsway in the Mount Pleasant area which would allow rezoning from the existing C-2 zoning to allow a 6-storey mixed-use building that includes:

    • 109 secured market rental apartment units;
    • Commercial use (car dealership) at grade;
    • A density of 3.69 FSR;
    • A building height of 75.5 ft.; and
    • 90 residential parking stalls, 209 dealership parking stalls, 4 loading spaces and 156 bike parking spaces.

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

The site is currently improved with Desination Hyundai, a single-storey auto dealership. The renderings appear to show that Destination Honda will be the new tenant. The architect for this proposal is FNDA Architecture.

445 Kingsway445 Kingsway_3 445 Kingsway_1

October 5, 2015by david.taylor@colliers.com
Apartment, Development

Rental Aparment Project Planned For 49th & Main Street

Orr Development has applied to rezone a site at the Southwest corner of 49th and Main Street from C-2 to CD-1. The plan is calls for a rezoning of the site under the Rental 100 program to allow a 6-storey apartment building building that includes:

    • 75 secured market rental units;
    • retail space at grade
    • a building height of 70.2 ft. from grade;
    • a density of 3.60 FSR, and
    • 80 underground parking spaces and 97 bicycle parking spaces

6507 Main6507 Main_1 6507 Main_2

August 20, 2015by 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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