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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Development, Rental, Retail

38-Storey, 408 Unit Rental Project Pitched for Joyce Collingwood Site

Sightline Properties has submitted a rezoning application for a site at 4975-4997 Joyce Street in the Joyce Collingwood area of East Vancouver.

The 13,859 SF site is located on the West side of Joyce Street half a block from the Skytrain Station.

The proposal is for a 38-storey rental tower that includes:

  • 408 market rental units with 10% below-market rental;
  • 3,700 SF of ground floor retail space;
  • a total density of 18.89 FSR;
  • A building height of 384 ft. with additional height for rooftop amenity space.

This application is being considered under the Joyce-Collingwood Station Precinct Plan. The application requests consideration of height and density in excess of the existing policy.

The architect for the project is Ciccozzi Architecture.

July 5, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

23-Storey Rental Tower Slated for Kitsilano Broadway Plan Site

A rezoning application has been submitted by Hollybush Holdings for a site in the Kitsilano area of the Broadway Plan at 2180 West 6th Avenue, between Yew and Arbutus Streets. The property is currently improved with a 1968 era walkup apartment building with 31 units.

The site is located in the Kitsilano North (KKNA) subarea of the Broadway Plan.

The proposal is to allow for the development of a 23-storey rental building with a 4-storey podium and includes:

  • 159 rental units w/ 20% below-market rental units;
  • A 37-space childcare facility;
  • 1,800 SF of retail space;
  • A total density of 7.1 FSR; and
  • A building height of 245 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Francl Architecture.

July 5, 2024by david.taylor@colliers.com
Condo, Development

Redevelopment of Shawn Oaks Site to Include Two Condo Towers & Social Housing Lowrise

The formal rezoning proposal is now posted for the 3.2 acre ‘Shawn Oaks’ property at 5505-5585 Oak Street, on the West side of Oak just North of West 41st Avenue in the Oakridge area.

Shawn Oaks is a 1969 era lowrise condo that was acquired in phases between 2016-2021 by Landmark Premiere Properties. The site is identified as a “Unique Site” in the Cambie Corridor Plan, allowing for an ‘enhanced’ rezoning process, and potentially greater height and density than elsewhere in the Plan area. The Cambie Corridor Plan identifies Shawn Oaks for more market and below market housing, targeting 20% of Residential Floor Area for Social Housing if market strata uses are proposed.

The project was originally proposed in February 2022 via a rezoning enquiry, and initial concept plans were introduced to the community at an Open House in June 2023 and now the project is moving into the full application phase.

The current plan includes a 33-storey condo tower, a 31-storey condo tower, and a 6-storey social housing building.

Further details include:

  • Approx. 450 condos;
  • Approx. 180 social housing units;
  • a total density of 4.0 FSR (556,000 SF);
  • a daycare building for 37 children;
  • Approx. 600 parking stalls.

The architect for the project is Acton Ostry.

The preliminary rezoning package can be viewed here: https://www.shapeyourcity.ca/5505-5585-oak-st

June 30, 2024by david.taylor@colliers.com
Apartment, Development, Rental

138 Rental Units Planned for Mount Pleasant/Broadway Plan Site

Fastmark has submitted a rezoning application for a 17,378 SF mid-block site at 469-491 East 10th Avenue in the Mount Pleasant area of East Vancouver, between Guelph Street and St. George Street.

The site is an assembly of three single family lots that has been designated for higher density in the MRTB subarea of the Broadway Plan.

The proposed project is a 17-storey rental tower that includes:

  • 138 rental units;
  • 20% below-market rental units;
  • a total density of 5.50 FSR;
  • tower floorplates averaging 6,500 SF;
  • A building height of 184.4 ft.
  • 32 underground parking stalls.

This application is being considered under the Broadway Plan.

The architect for the project is GBL Architects.

June 28, 2024by david.taylor@colliers.com
Development, Office, Rental, Retail

Three Tower Mixed Use Rezoning Proposal Unveiled for Great Northern Way Site

PCI Group and Low Tide Properties have submitted their formal rezoning application for 455-485 Great Northern Way, located directly West of Emily Carr.

The proposal envisions a 20-storey office building with a 4-storey podium and two 35-storey rental towers. Details include:

  • 548 rental units;
  • 20% below market;
  • 71,000 SF of retail space;
  • 344,000 SF of office space;
  • a total density of 6.41 FSR;
  • A maximum building height of 373 ft.;
  • A publicly accessible open space integrated with the future Emily Carr SkyTrain station;
  • A childcare facility (94 spaces) dedicated turnkey to the City; and
  • 470 vehicle parking spaces and 1,848 bicycle spaces.

This application is being considered under the Broadway Plan.

The architect for the project is Perkins & Will.

The full application package can be viewed here: https://www.shapeyourcity.ca/455-565-great-northern-way-and-1850-thornton-st

June 18, 2024by 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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