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 City Staff Reject Proposal for Stong’s Site

City of Vancouver staff have rejected a rezoning application for a six-storey mixed-use building on the Stong’s Market site.

Brian Jackson, the city’s manager of planning and development, recommended the proponent pull the application in light of opposition based on Dunbar’s community vision, which prescribes a four-storey limit on buildings.

Stongs Dunbar

“I, of course, only recommend to council, so if [the applicant wishes] to pursue, they could still go to council with our negative recommendation and then it would be council that would formally turn them down, but I have recommended that they withdraw their application,” Jackson told the Courier Thursday morning.

Henriquez Partners Architects filed the rezoning application with the city on behalf of the landowner Harwood Group.

The site in question includes properties from 4508 to 4560 on Dunbar Street and 3581 West 30th Avenue — the current locations for Stong’s, McDermott’s Body Shop and two parking lots. The rezoning proposal provided space for the grocery store to move back in after the project was completed.

Read more: http://www.vancourier.com/news/vancouver-city-staff-reject-proposal-for-stong-s-site-1.671185#sthash.SVXFJSfr.dpuf

October 28, 2013by david.taylor@colliers.com
Apartment, Investment

The Wenonah Building at Main & East 11th Sold

The Wenonah Building, a heritage apartment building at East 11th Ave and Main Street has sold for $6,500,000 or $342,000 per unit. The building, built in 1913, also contains some retail on the ground floor. The lot size is 8,480 SF.

2703 Main

 

October 8, 2013by david.taylor@colliers.com
Development

Paragon Reintroduces BC Place Casino/Hotel Proposal

Paragon Development Ltd. has reinvented its proposal for a $535 million redevelopment of the south side of BC Place Stadium as what they are calling an urban resort that plays up entertainment and plays down gambling with the relocation of its Edgwater Casino on False Creek.

Paragon’s last plan, in a lease deal with the BC Pavilion Corporation, was rejected by the City of Vancouver in 2011 over the proposal’s expansion of its gaming floor, but company officials said Tuesday that they’ve listened to their opponents and the new proposal is a straight transfer of Edgewater’s existing operations to the new facility, which fits into the city’s existing rezoning approval.

Paragon, with financing partner Dundee Corp.’s and operating partner 360 Vox, a real estate management company, unveiled the revamped design Tuesday, which calls for two luxury hotels with 550 rooms, a conference centre restaurants and retail space that will be linked in with BC Place.

The overall development will be 675,000 square feet of space and create an additional 2,000 jobs within the complex. Developers are aiming for completion of the project in 2016.

Read more: http://www.vancouversun.com/business/commercial-real-estate/Paragon+Gaming+offers+million+resort/8952619/story.html#ixzz2fqQS3bFw

 

September 24, 2013by david.taylor@colliers.com
Development

Vancouver Community Plans Update

After feedback from the public, Vancouver City Council asked staff to review the public consultation process for each plan area and consider extending the timelines regarding Vancouver’s four Community Plan processes currently underway (Downtown Eastside, Grandview-Woodland, Marpole and the West End).
Here is City staff’s recommendations on each Plan for consideration by  Council next week:
  • That the Downtown Eastside Local Area Plan go to Council on schedule in November 2013, and that the associated zoning and bylaw amendments be considered at that time for referral to Public Hearing in early 2014.
  • That the West End Community Plan go to Council on schedule in November 2013, and that the associated zoning and bylaw amendments be considered at that time for referral to Public Hearing in early 2014.
  • That the Marpole Community Plan, following additional community consultation on the proposed revisions to the draft plan, be deferred for additional consultation and be considered by City Council in the last quarter of 2013 or first quarter of 2014. (Approx. 3-6 month delay)
  • That  Council direct staff to extend the original schedule for the Grandview-Woodland Community Plan in order to create a Citizens’ Assembly to be organized for all areas of the Grandview-Woodlands Plan, including options and challenges related to planning appropriate transit-oriented density along the Broadway Corridor at the south end of the Community. (at least a 6 month delay)
Read more in the Staff report here: http://former.vancouver.ca/ctyclerk/cclerk/20130925/documents/cfsc1.pdf
September 17, 2013by david.taylor@colliers.com
Development

Concert Unveils Plans for SEFC Site

Concert Properties has submitted a rezoning application for their site in Southeast False Creek, directly East of The Village. Concert_SEFC

The proposal includes:

  • a waterfront park, greenway/bikeway paths, an internal street network
  • five residential buildings consisting of one 18-storey building, two 15-storey buildings, one 14-storey building, and one 12-storey building
  • a total density of 624,522 SF including 519,595 SF of market residential in four buildings and 104,927 SF of non-market affordable rental units
September 13, 2013by 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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