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

Vancouver Council Approves Oakridge Centre Rezoning

The hotly debated Oakridge Centre redevelopment rezoning was passed by city council Friday after three days of public hearings.

All Vision Vancouver councillors voted in favour of of the proposal. NPA councillors George Affleck and Elizabeth Ball and Green Party Coun. Adriane Carr voted against it.

The project will include 11 residential towers between 19 and 44-storeys in height and bring massive change to the landscape of one of Vancouver’s most central neighbourhoods.

Continued from public hearings on Monday and Tuesday, Friday’s session rounded out the bulk of the 138 speakers who appeared during the three days to voice their opinions to mayor and council. Although there was a mix of speakers in favour and opposed throughout the ongoing public hearings, a majority of speakers Friday afternoon mounted a last ditch defence against the project.

Resident Carey Murphy said the deviation from the 2007 policy for the area is too significant and said that what the proposal does to the owners of the Terraces residential complex at Oakridge Centre is “just shameful.”

Marine Gardens resident Charlene Gunn spoke on numerous issues related to the increase in density, such as the need for more schools and police and fire services.

“Oakridge and Marpole aren’t just pieces of land with investment potential, they are communities,” said Gunn.

Read more: http://www.vancourier.com/news/vancouver-council-approves-oakridge-centre-rezoning-1.899724

March 17, 2014by david.taylor@colliers.com
Development

CONSTRUCTION UPDATE: Trump Tower

"The Trump International Hotel & Tower Vancouver" 2014.03.05 by vancityhotshots
“The Trump International Hotel & Tower Vancouver” 2014.03.05, a photo by vancityhotshots on Flickr.
March 9, 2014by david.taylor@colliers.com
Market Research

MARKET POLL: Which neighbourhood has the most upside value?

Curious to hear your thoughts. Which area that is currently undergoing (or has recently undergone) planning changes, has the most upside value? That is, where would you be most likely to buy a piece of land or an investment property given future growth trends in the City?

[poll id=”4″]

March 1, 2014by david.taylor@colliers.com
Apartment, Investment

SOLD: 1075 Nelson Street, Vancouver

I am pleased to have acted on behalf of both parties in the sale of this 23-unit apartment property in the West End, located at 1075 Nelson Street. The purchase price was $9,000,000.

Picture 014

March 1, 2014by david.taylor@colliers.com
Market Research, Office

Office Market Slowdown is Prevailing Theme at Real Estate Forum

Concerns are emerging that a building boom of office towers in downtown Vancouver is creating far too much supply.

Only half the 2.18 million square feet of new office space in seven towers under construction downtown — a boom enabled by new zoning bylaws in 2009 — has been preleased, executives at the Vancouver Real Estate Forum said Thursday.

“I am not seeing a lot of office demand right now, and that is concerning to me,” Bart Corbett, senior vice-president of Cushman & Wakefield, said in an interview.

Corbett and other executives discussed office space development and economic trends at a panel discussion titled “The Vancouver Hangover?”

A common theme was that Vancouver’s commercial real estate market is slowing. The panel was asked how eager landlords are to offer inducements to would-be tenants, and which sectors among high-tech startups, resource industry offices, or “slow and steady” traditional businesses, are preferred.

Read more: http://www.theprovince.com/business/real+estate+executives+gather+discuss+Vancouver+housing+trends/9530873/story.html

February 21, 2014by 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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