238 West Broadway – An eight storey, 61 unit mixed use development was recently approved by the Development Permit Board.  The project will be utilizing a density transfer from a donor site (163 West Hastings Street – the Flack Block) which will give the project a total FSR of 3.25.

1545 West 8th Avenue – An eight storey, 18 unit development with two levels of underground parking was recently approved by the Development Permit Board.  The project, by Kenstone Properties, will be 23 metres in height and will have a 3.0 FSR.

Colliers has released their Q2 2012 retail market report. The retail market in Metro Vancouver has been consistently active with many landlords, retailers and investors experiencing the benefits of a high-priced market.

Highlights from the report:

• The overall vacancy rate for Metro Vancouver increased from 2.7 percent in Q4 2011 to 3.9 percent this quarter
• Accounting for the majority of increased vacancy is Chilliwack moving from 4.3 percent in Q4 2011 to 10.9 percent this quarter, Richmond moving from 1.9 percent in Q4 2011 to 6.2 percent this quarter.
• Deal velocity remained consistent so far this year with many lower priced properties trading hands, while deal volume has slowed
• The federal government increased duty-free limits for cross-border shopping, which went into effect on Jun 1, 2012, putting further pressure on Canadian retailers

Source: Colliers International