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

Council to Vote on Credit Suisse Office Tower Proposal November 13

Courtesy of the Vancouver Sun

Credit Suisse is proposing to build the tower, which would be adjacent to and extend over the Vancouver Stock Exchange building at the corner of Pender and Howe streets.

The historic Vancouver Stock Exchange building at the corner of Howe and Pender streets is poised to get a $200-million overhaul as part of a major commercial development proposed by global financial giant Credit Suisse.

City council will vote Nov. 13 on a rezoning application that would more than double the maximum density and allow for the construction of a 30-storey tower on the site, which includes an adjacent property on Pender Street.

The design calls for retail uses at street level topped by 369,000 square feet of new, premium office space.

City staff has recommended council approve the application, reasoning that it will contribute to Vancouver’s job space, economic development, heritage and sustainability objectives.

Read more: http://www.vancouversun.com/business/commercial-real-estate/Proposed+office+tower+would+incorporate+former+Vancouver+Stock/7528003/story.html#ixzz2C3bx3ly8

November 13, 2012by david.taylor@colliers.com
Apartment, Investment

968 Nicola Street, Vancouver Sold

Steve Fame and John Gee of Colliers have sold The Langtry, located at 968 Nicola in the West End of Vancouver. The property is a 6-unit, fully furnished short-term rental property that was sold for $2,114,000, or approx. $350,000 per unit.

November 8, 2012by david.taylor@colliers.com
Investment, Retail

Sold – 2403 Main Street, Vancouver

Ted Mildon, Matt Saunders and Drew Gilbertson are pleased to announce the sale of 2403 Main Street in Vancouver. The property consists of 8,000 square feet of retail on the main floor and 12 apartment units on the second floor. Colliers represented both purchaser and vendor in this transaction.

For more information on this sale please contact Ted Mildon.

November 2, 2012by david.taylor@colliers.com
Development

Vancouver approves transportation strategy aimed at getting more people out of cars

Vancouver approves transportation strategy aimed at getting more people out of cars.

VANCOUVER — A long-term strategy designed to improve the way people and goods move around Vancouver was given approval by council Wednesday.

The Transportation 2040 plan, dubbed “bold and aggressive” by Coun. Raymond Louie, outlines more than 180 transportation and land-use concepts aimed at helping the city achieve its goal of converting two-thirds of all trips taken to cycling, walking and public transit.

From pedestrian “scramble” intersections to rerouting heavy truck traffic away from residential neighbourhoods to more bike lanes and smoother, safer sidewalks, the plan looks to reduce our reliance on vehicle traffic.

Among the more ambitious ideas is a proposal to remove the Georgia and Dunsmuir viaducts to improve neighbourhood connections for both pedestrians and cyclists.

The plan also explores the possibility of using two of eight traffic lanes on Granville Bridge to create a tree-lined pedestrian greenway.

Read more: http://www.vancouversun.com/Vancouver+approves+transportation+strategy+aimed+getting+more+people+cars/7477536/story.html#ixzz2AvBfqQHt

October 31, 2012by david.taylor@colliers.com
Development

4.3 Million Square Feet, 18 to 45-Storey Towers Proposed For Oakridge Centre

Westbank Projects, in partnership with Ivanhoe Cambridge have applied to the City of Vancouver to rezone Oakridge Centre to develop a 45-storey mixed-use development consisting of 1,430,000 SF of retail, 425,000 SF of office space, 45,000 SF of amenity space, and 2,700,000 SF of residential, with a total density of 3.54 FSR. The proposal includes 2,818 units with a maximum height of 412 ft., and 6,694 parking spaces. Henriquez Partners is the Architect for the project.

The proposed rezoning has been in the works since 2007 when the Oakridge Policy Statement was adopted. More recently, Westbank has been brought on and a planning program was developed in 2012 to help guide the rezoning process.

Model View looking East

More information can be found HERE.

 

October 30, 2012by 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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