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

Condo/Social Housing Project Slated for Broadway & Fraser Site

Wall Financial has submitted their rezoning application for 670 East Broadway, at the Southwest corner of Broadway and Fraser in East Vancouver. It is one of the first applications in the Broadway Plan seeking a mix of condo and social housing instead of rental and below-market rental.

The 20,200 SF site is located in the Mount Pleasant Centre – Area F (MCEF) of the Broadway Plan.

The proposal is to allow for the development of a 17-storey building with a 6-storey podium over 4 levels of underground parking and includes:

  • 137 residential units;
    • 24 social housing units
    • 113 condo units
  • 3,800 SF of retail space on the ground floor;
  • a total density of 6.0 FSR;
  • A building height of 180 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Bingham Hill.

The site was acquired in 2022 for $21,100,000 or $173 per buildable SF.

June 17, 2024by david.taylor@colliers.com
Apartment, Development, Rental

Rental Tower Planned for Mount Pleasant Site

The latest Broadway Plan rezoning application is a site on East 16th in Mount Pleasant, between Quebec and Ontario Streets. The site is one of many tower sites in the Broadway Plan owned by Five Mile Holdings.

The 132′ x 122′ (16,154 SF) site is located mid-block and is designated in the Broadway Plan under the Mount Pleasant South Apartment Area – Area ‘B’ [MSAB] subarea.

The proposal is to allow for the development of a 17-storey rental tower and includes:

  • 145 rental units;
  • 20% below-market rental units;
  • 4,900 SF of retail space on the ground floor;
  • a total density of 6.80 FSR; and
  • A building height of 184 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Studio One Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/45-e-16-ave

June 13, 2024by david.taylor@colliers.com
Apartment, Development, Rental

17-Rental Tower Proposed for Broadway Plan Site

A rezoning application has been submitted under the Broadway Plan for a 12,498 SF (100′ x 125′) site at 1171 West 12th Avenue, between Spruce Street and Alder Street in the Fairview neighbourhood.

The proposal is for a 17-storey rental tower that includes:

  • 111 rental units;
  • 20% below market units;
  • 55 studio units, 6 one-bedrooms, 39 two-bedrooms & 11 three-bedrooms;
  • a total density of 6.50 FSR;
  • A building height of 186 ft.
  • 58 underground parking stalls.

This application is being considered under the Broadway Plan.

The architect for the project is Stuart Howard.

June 13, 2024by david.taylor@colliers.com
Apartment, Development, Rental, Retail

Two Tower, 446-Unit Rental Project Slated for City Centre Motel Site on Main

Nicola Wealth Real Estate has submitted their rezoning application for the former City Centre Motel site at 2111 Main Street, on the West side of Main between East 5th and East 6th Avenues in Mount Pleasant.

Nicola acquired the 35,000 SF site in late 2020 and it has operated at an artists lodge since. The original motel, which occupies a full city block, was built in the early 1960s.

The site is located in Mount Pleasant Centre (MCE) subarea of the Broadway Plan.

The proposal is for two rental towers at 24-storeys and 22-storeys, and includes:

  • 446 rental units;
  • 22% studios, 38% one-bedrooms, 31% two-bedrooms & 10% three-bedrooms;
  • 20% of units below market;
  • 5,000 SF of arts & cultural space;
  • 14,710 SF of retail;
  • a total density of 9.93 FSR;
  • 197 below-grade parking stalls;
  • 1065 class A bicycle stalls;
  • 40% family housing (2 to 3-bedroom units)
  • A building height of 231 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Musson Cattell Mackey Partnership.

The full application can be viewed here: https://www.shapeyourcity.ca/2111-main-st

June 10, 2024by david.taylor@colliers.com
Development

Amica & Marcon Submit Plans for Latest Seniors Project on Westside

Amica and Marcon have submitted a rezoning application for their latest Westside seniors project.

The site is located at 1110-1160 West King Edward Avenue between Oak and Granville, comprising an assembly of five single family lots.

The proposal is for a 6-storey seniors building and includes:

  • 169 care facility units;
  • A total density of 3.10 FSR; and
  • A building height of 92 ft.

“This full-service facility provides on-site management, housekeeping services, main and private dining, concierge services, life enrichment programming, 24-hour emergency support care, and fully licensed long term care including the provision of palliative support.”

The application is being considered under the Interim Rezoning Policy for Social Housing, Seniors Housing, and Institutional, Cultural and Recreational Uses in Former Community Visions Areas.

The architect for the project is SHIFT Architecture.

June 8, 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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