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

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
Apartment, Development

77 Rental Units Proposed for Kerrisdale Site

Sightline Properties has submitted a development application to the City of Vancouver for a 2-lot land assembly at the Southwest corner of West 41st Avenue and Maple Street in Kerrisdale.

The 17,750 SF site was rezoned under the Secured Rental Policy to RR-3B in February. This designation allows 6-storey buildings with ground floor commercial uses.

The plan for the project includes:

  • 77 market rental units;
    • 20 studios, 30 one-bedrooms, 24 two-bedrooms & 3 three-bedrooms;
  • 6,280 SF of retail space;
  • A total density of 3.43 FSR;
  • A proposed height of 72 ft.;
  • Two levels of underground parking, providing a total of 44 parking spaces having vehicular access from the lane.

Under the site’s proposed RR-3B 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 Yamamoto Architecture.

May 18, 2023by david.taylor@colliers.com
Apartment, Development

Revised Proposal for West End Tower Site Includes Rental & Social Housing Units

Strand Development has submitted a new rezoning application for a site they own at the corner of Burnaby and Thurlow Street in the West End.

The 17,286 SF site at 1068-1080 Burnaby Street was originally envisioned as a 30-storey luxury condo & social housing project at 9.01 FSR, and was approved for rezoning in 2018, though the zoning was never enacted.

More recent planning policy adopted by the City in 2022 allows for more flexibility in the delivery of rental housing in this subarea.

The new application is for a 34-storey residential building and includes:

  • 287 market rental units;
  • 10% residential floor area for social housing (approximately 24 units);
  • 6,600 SF floorplates;
  • A total density of 12.25 FSR;
  • A building height of 295 ft; and
  • 125 vehicle parking spaces and 515 bicycle parking spaces.

This application is being considered under the Criteria for 100% Secured Rental and Below-Market Housing as an Alternative to Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan.

The architect for the project is BOP Architects.

May 5, 2023by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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