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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

61 Infill Rental Apartments Planned for West End Property

Starlight has applied to the City of Vancouver for permission to develop two infill rental buildings on an existing apartment property they own at 1755 Haro Street in the West End.

The 138-unit, 19-storey concrete highrise known as Peter Manor, was originally built in 1970, and acquired by Starlight in 2018 as part of a four property portfolio sale for $247 Million.

The infill proposal for the property includes a new 6-storey apartment building fronting Haro Street, and a 3-storey townhouse building fronting the lane.

Details include:

  • 61 market rental units;
    • 28 one-bedrooms, 24-two-bedrooms & 9 three-bedrooms;
  • A building height of 61 ft.;
  • New density of 1.69 FSR.

Under the site’s existing RM-5A zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is BHA Architecture.

August 17, 2023by david.taylor@colliers.com
Development

21-Unit Building Planned for West End Parking Lot

A development application has been filed for a 66 ft. lot located in the West End; one of the last remaining surface parking lots in the West End. The site at 1021 Burnaby Street is located directly behind Celebrities Nightclub on Davie Street and serves as pay parking.

The plan for the RM-5A zoned, 8,646 SF site is a new 5-storey building that includes:

  • 21 market residential units (rental or condo not specified);
  • 12 junior one bedrooms, 4 one-bedrooms and five two-bedrooms;
  • a total density of 1.65 FSR;
  • a total building height of 50 ft.;
  • 20 underground parking spaces on one level underground.

 

The site is located in an area of the West End Plan that allows rezoning for towers potentially as high as 30-storeys; however, a site frontage of at least 130 feet is required. This particular site would also face additional restrictions including tower separation and shadowing onto Davie Street.

The architect for the project is Francl Architecture.

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

32-Storey Tower Planned for West End Site

A partnership between Strand Development and Intracorp has submitted an application to rezone a site located at 1055 Harwood Street, between Thurlow and Burrard in the West End area of Downtown Vancouver.

The proposal is for a 32-storey residential building with:

  • 82 market residential units;
  • 68 two-bedrooms, 8 three-bedrooms and 6 four-bedrooms;
  • 44 social housing units;
  • a density of 10.35 FSR;
  • four levels of underground parking with 156 vehicle parking stalls;
  • 158 bicycle parking spaces; and
  • a building height of 300 ft.

1055 Harwood_51055 Harwood_4 1055 Harwood_2 1055 Harwood_3The RM-5A zoned site was redesignated under the West End Community Plan, adopted in 2014. Currently occupied by a lowrise coop, the site was acquired in August 2016 for $40.5 Million.

The application describes the design rationale:

“The overall form for the proposed building is one that is familiar to the West End. The tower, as proposed, is a 32-storey tower interlocked with a very small 6,300 square foot, seven storey (60’) base, thereafter tapering into a slender 5,500 square foot floorplate for the remainder of the building’s tower element.
 
The building has been designed as a “tower in the park” with the use of concrete and brick to create an articulated base transitioning into a slender tower with a simple concrete frame featuring expansive windows, spandrel glass and spacious balconies that are predominately inset into the building’s facade.”
 
The architect for the project is NSDA Architects.
May 15, 2017by david.taylor@colliers.com
Apartment, Development

Laneway Infill Apartments Planned for West End Property

A development application has been filed for a new laneway infill apartment building on a 66′ lot in the West End. 1176 Burnaby Street, owned by Lantern Properties, has an existing 11-storey, 41-unit apartment building known as Newport Apartments.

The laneway apartment application is for the rear of the property, currently a surface parking area. Details include:

  • 9 rental apartments
  • building height of 47 ft
  • Total area of 6,852 SF
  • 7 underground parking stalls accessed off the lane

The site is zoned RM-5A and the West End Community Plan, adopted in 2014, amended the RM zones to allow infill apartments on laneways where there is sufficient room for them.

1176-burnaby

 

1176-burnaby_21176-burnaby_1

September 7, 2016by david.taylor@colliers.com

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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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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