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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Condo, Development

18 Townhouse Units Planned for Oak Street Site

Admiral Operations Ltd. has applied to the City of Vancouver for a development permit for a new townhouse project located on the West side of Oak Street between West 55th Avenue and West 57th Avenue. The site comprises two single family lots, 7239 & 7255 Oak Street.

The proposal calls for two three-storey townhouses and rowhouse buildings. Details include:

  • 18 townhouse units including:
    • 3 one-bedrooms, 5 two-bedrooms & 10 three-bedroom units;
  • Unit sizes ranging from 520 to 1,227 SF;
  • one level of underground parking having vehicular access from the rear lane.

Under the site’s proposed RM-8AN 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 Formwerks.

The site was assembled in 2018 for $7,960,000, or $463 per buildable SF based on the application.

February 6, 2020by david.taylor@colliers.com
Development

Stacked Townhouses Planned for Marpole Site

A development application has been filed for a site at 7549-7575 Oak Street in the Marpole area of Vancouver, just south of West 59th Avenue. The assembly of four single family lots is currently zoned RM-8N.

The proposal is for a stacked townhouse development, including:

    • 31 units (all 2-4 bedroom units);
    • a total density of 1.20 FSR;
    • four buildings having a partial third storey and one building having a two-storey height;
    • maximum building heights of 37.7 ft.; and
    • a total of 32 parking spaces and 39 bicycle spaces on site.

Under the site’s existing RM-8N zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The application describes the design rationale: “Given the site depth almost doubling other Vancouver standard lots, we have introduced stacked townhouses, back-to-back stacked townhouses in combination of courtyard rowhouses typologies to this development. The diversity of the development allows more housing choices and increases the affordability without compromising the livability of the units.”

The architect for the project is Gradual Architecture Inc.

The site was acquired in early 2018 for $14,977,000, or $488 per buildable SF based on the application.

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

15-Unit Townhouse Project Planned for Marpole

A development application has been filed for a new townhouse project in Marpole; one of nearly a dozen that have been brought forward in the new RM-8 zone created in the Marpole Community Plan in 2014. The proposal in question is by Alabaster Homes for a 22,027 SF site at 8107-8123 Shaughnessy Street (one block East of Oak). The site comprises an assembly of four existing single family lots. The proposal includes:

  • 15 courtyard townhouse units (1,426 – 1,712 SF)
  • 3 & 4-bedroom units
  • three 2.5 storey buildings
  • 28 ft. courtyard
  • one level of underground parking

8107 Shaughnessy_1

Existing 4-single family houses

8107 Shaughnessy 8107 Shaughnessy_2The architect for the project is Formwerks Architectural.

Alabaster has other townhouse projects in the works in Marpole, including Osler Residences (currently in pre-sales) and Oak & Park.

January 7, 2016by david.taylor@colliers.com
Development

Townhouse Project Planned for Marpole

A development application has been made to the City of Vancouver to develop a 20,108 SF site at 8492-8570 Osler Street, an assembly of five single-family homes near Oak and 70th Street. This area was rezoned by the Marpole Community Plan in 2014 and this particular block is now in the RM-8 zone, which allows townhouse development up to 1.20 FSR. The plan by Formwerks Architectural for this assembled site includes:

  • a courtyard townhome development with 4 buildings
  • a total of 18 two plus partial storey units
  • 1 level of underground parking accessed of lane
  • A total density of 24,220 SF (1.20 FSR)
  • 30 ft courtyard

8492 Osler_18492 Osler

 

August 25, 2015by david.taylor@colliers.com
Development

Marpole Proposal Turns 4 Single Family Houses into 18 Townhouses

A development proposal in Marpole for a 21,160 SF at West 63rd Avenue and Manitoba is taking advantage of gentle densification now permitted in the Marpole Community Plan.

The proposal by Belford Properties anticipates turning four single family lots, recently rezoned by the City to RM-8 zoning, into 18 townhouse units in two rows of buildings above one level of underground parking. Nine of the units fronting the lane have basement-units that can be locked off for separate suites. The maximum allowable density in the RM-8 zone is 1.20 FSR.

  • The site is 184′ x 115′
  • The gross buildable area is 25,518 SF

7900 Manitoba 7900 Manitoba_1 7900 Manitoba_2

 

April 21, 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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