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, Land

FOR SALE: East Vancouver Rental Development Site

Pleased to offer this full city block rental development site on Renfrew Street in East Vancouver.

The 26,000 SF site is eligible for rezoning under the Secured Rental Policy, potentially allowing a 6-storey rental development up to 3.40 FSR. Located in the community of Hastings-Sunrise and a short drive to both Downtown Vancouver and Burnaby, the site spans an entire block along Renfrew Street between East Georgia and Adanac Street.

It is a fantastic location for rental apartments and the site has already been assembled.

Click here for the brochure.

Please contact me for further information including price guidance.

April 3, 2022by david.taylor@colliers.com
Condo, Land

SOLD: 5916-5998 Cambie Street

I am pleased to share the news of successful completion of the sale of 5916-5998 Cambie Street, Vancouver, B.C. The Purchaser is a partnership between Coromandel Properties and Peterson Group.

This 31,692-SF full city block is located at the corner of Cambie Street and West 43rd Avenue, directly across from the transformative Oakridge Vancouver project, and just two blocks south of Oakridge/41st Canada Line Station.

The site has an approved rezoning application for a 29-storey, 168-unit condo tower and a 15-storey, 270-room hotel.

Please contact me for further information regarding this sale.

April 3, 2022by david.taylor@colliers.com
Land, Market Research

Draft Broadway Plan Released

The City of Vancouver has released a Draft of the much anticipated Broadway Plan that now includes details on land use designations, density, built form and public benefits.

This is the most detailed iteration of a planning process which launched three years ago.

The full draft plan can be viewed on the City’s website, here.

The Broadway Plan is broken down into three main geographic neighbourhoods:

  • Kitsilano
  • Fairview
  • Mount Pleasant

Here is a summary of the overall draft plan as well as detail for proposed zoning within each neighbourhood.

The Overall Draft Land Use Map

Kitsilano

Fairview

Mount Pleasant

March 1, 2022by david.taylor@colliers.com
Apartment, Development

15-Storey Infill Rental Building Pitched for Kerrisdale

A rezoning application has been submitted by Larco for a new infill apartment building next to an existing building they own at 5455 Balsam Street, known as Fontainebleu Apartments, at the Northwest corner of Balsam and West 39th Avenue in Kerrisdale.

The proposal is to allow for the addition of a 15-storey infill residential building on the 57,599 SF site, while retaining the existing 14-storey, 88-unit building.

The proposal for the infill component includes:

  • 145 market rental units;
    • 57 studios, 35 one-bedrooms & 53 two-bedrooms;
  • 15th floor amenity space;
  • A total new density of 1.88 FSR (total density of 3.63 FSR)
  • A building height of 130 ft.;
  • 58 underground vehicle parking spaces and 278 bicycle parking spaces

The application is being considered under the Secured Rental Policy.

The building massing and setbacks are based on the RM-3 zoning.

The architect for the project is Rositch Hemphill Architects.

The property was sold in 2020 for $70,000,000 by Colliers.

December 15, 2021by david.taylor@colliers.com
Development, Office

5-Storey Industrial & Office Building Planned for East 1st & Clark

A development application has been submitted for the full city block site at the Southwest corner of East 1st Avenue and Clark Drive in East Vancouver.

The proposed project is a speculative mixed use industrial and office project preliminarily called “1st & Clark”. The 5-storey building will be a horseshoe shape and include units for smaller downtown wholesale and light industrial users.

Details of the project include:

  • wholesale uses on the main to second floor;
  • general offices on the third to fifth floors;
  • 197,948 SF of gross floor area;
  • a total density of 3.0 FSR;
  • a building height of 72 ft.; and
  • 220 underground parking spaces on one underground level.

Under the site’s existing I-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 TKA+D Architecture + Design Inc. 

October 13, 2020by 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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