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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Apartment, Development, Retail

Redevelopment of Dunbar Theatre Site to Include 45 Rental Units

A development application has been submitted to the City of Vancouver for the Dunbar Theatre site at 4555 Dunbar Street, at the corner of West 30th Avenue.

The proposal calls for the redevelopment of the 19,700 SF corner site with a new 5-storey, mixed-use building containing retail use on the first level and residential on levels 2 through 5.

The proposal includes the following:

  • 45 rental units;
    • 2 studios, 24 one bedrooms, 13 two-bedrooms & 6 three bedrooms;
  • 6,702 SF of theatre space;
  • 4,944 SF of retail space including a coffee shop and restaurant;
  • a total density of 2.89 FSR;
  • a building height of 68 ft.
  • Two levels of underground parking having vehicular access from the lane.

The proposal includes heritage designation of the retained exterior and structure of the Dunbar Theatre, originally constructed in 1935 and expanded and altered in 1964. The plan includes retaining the historic façade, theatre lobby, and select interior elements of the auditorium that are reinstated or replicated to match the original.

Under the site’s existing C-2 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 Giant Union Design Architecture & Planning Ltd.

The site was assembled between 2017 & 2018 for a combined $30,180,000 or $558 per buildable SF based on the application.

August 1, 2023by david.taylor@colliers.com
Development, Land

SOLD: Westside Vancouver Land Assembly

I am pleased to announce the successful completion of sale of a 1-acre, 6-lot land assembly at 1026-1108 West 41st Avenue in Vancouver.

July 25, 2023by david.taylor@colliers.com
Apartment, Development, Retail

Rezoning Plan Unveiled for PCI’s Broadway & Arbutus Project

The detailed rezoning application for 2096 West Broadway & 2560-2576 Arbutus Street, on the East side of Arbutus, has been submitted by PCI Group in partnership with Translink to the City of Vancouver. The site sits directly across Broadway from the Arbutus station currently under construction.

The project was first announced in May of this year. is to allow for the development of a 30-storey mixed use building. The zoning would change from C-3A and C-8 and includes:

  • 260 market rental units, 20% at below market rates;
  • 7,600 SF of retail space;
  • 7,100 SF of space for the Ohel Ya’akov Community Kollel;
  • A secondary Broadway Subway station entrance for Arbutus Station;
  • A total density of 11.40 FSR’
  • A building height of 298 ft.; and
  • 191 vehicle parking spaces and 489 bicycle parking spaces.

This application is being considered under the Broadway Plan.

The architect for the project is MCM.

July 6, 2023by david.taylor@colliers.com
Apartment, Development

344-Unit, Two Tower Rental Project Planned for Oakridge Site

Rize Alliance Properties and Minto Group have submitted their rezoning application for a 6-lot land assembly at 5350-5430 Heather Street in the Oakridge area of Vancouver.

The plan calls for the development of two 18-storey buildings over 4-storey podiums and includes:

  • 344 market rental units;
  • 20% of the floor area secured for below market rental units (approximately 69 units);
  • A total density of 6.28 FSR;
  • A building height of 175.0 ft.; and
  • 226 vehicle parking spaces and 642 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Dialog.

The site was acquired in January of this year for $47,300,000, or $178 per buildable SF based on the rezoning application.

June 13, 2023by david.taylor@colliers.com
Development, Land

FOR SALE: Broadway Area High Density Residential Development Site

We are pleased to introduce this high-rise development site located at West 13th and Willow Street in Vancouver.

Please click here or contact us for further details.

June 6, 2023by 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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