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.
  • About
  • Listings & Sales
  • Metro Vancouver Commercial Real Estate Market Data
  • Subscribe
Apartment, Development, Rental

First Application Under New TOA Rezoning Policy Seeks 6-Storey Rental In Place of Approved Townhouses

Sightline Properties has submitted the first rezoning application under the City of Vancouver’s TOA Rezoning Policy, adopted by City Council in June 2024 following the Provincial TOA legislation.

The 50,013 SF site at 520-590 West 29th Avenue is a full city block land assembly between Cambie and Ash Street. The site was previously approved in 2022 as a 46-unit townhouse project under the RM-8A zoning under the Cambie Corridor Plan.

As the site is located 500 metres from the King Edward Canada Line Station and under the TOA Rezoning Policy, will allow up to 3.0 FSR (80% market rental, 20% below market rental).

The proposal envisions two 6-storey woodframe rental buildings, with townhouses on the lane. It includes:

  • 230 rental units (20% below-market);
  • a total density of 3.0 FSR;
  • A building height of 69 ft.;
  • an 1,800 SF gym on the parkade level with natural light from clerestory windows;
  • a single level of underground parking.

The massing and project setbacks are based off of the City’s existing RR-2C District Schedule.

The application is being considered under the Transit-Oriented Areas Rezoning Policy.

The architect for the project is Yamamoto Architecture.

October 22, 2024by david.taylor@colliers.com
Development

Strand Revises West 2nd Project to Include Rental Units

Strand has submitted a new rezoning application for their site at 360 West 2nd Avenue, which was previously approved for rezoning in 2021 for a 7-storey for lease industrial and office project, branded ‘Three Sixty‘.

Previously approved "Three Sixty", 7-storey commercial project
Previously approved 7-storey office/industrial project.

Office market conditions and the subsequent adoption of the Broadway Plan have led to design changes incorporating extra height, density and residential rental units, and removal of most of the proposed office space.

The new proposal anticipates a 19-storey mixed-use building that includes:

  • 203 rental units;
  • 33,319 SF of industrial space;
  • 16,424 SF of office space;
  • a total density of 11.81 FSR;
  • A building height of 211 ft.

This application is being considered under the Broadway Plan. The application requires Official Development Plan (ODP) and Regional Growth Strategy (RGS) amendments.

The architect for the project is Yamamoto Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/302-360-w-2-ave

October 4, 2024by 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, Retail

77-Unit Rental Building Eyed for Prominent East Broadway Site

Third Space has submitted a rezoning application for a site at 1926-1978 East Broadway, at the corner of Victoria Street in East Vancouver. The triangular site includes two single family lots and a former gas station lot that was decommissioned in the early 2000’s and has been used as a community garden in recent years.

The 20,600 SF site is currently zoned C-1 but is located within the Grandview Woodland Community Plan which allows for rezoning up to 6-storeys.

The proposal for the site includes:

  • 77 rental units (26 units at below-market rates);
  • 6,300 SF of ground floor retail space;
  • A total density of 3.0 FSR;
  • A building height of 73 ft.; and
  • 88 vehicle parking spaces and 150 bicycle parking spaces.

The application is being considered under the Grandview-Woodland Community Plan.

The architect for the project is Yamamoto Architecture.

May 2, 2023by david.taylor@colliers.com
Apartment, Development

Rental Building Proposed for West 4th Site

Orr Moniz has submitted a development application for an 11,000 SF site at 2906-2912 West 4th Avenue, between Bayswater and Macdonald in the Kitsilano area of Vancouver for a new 6-storey rental apartment building.

The site is zoned C-2 which based on changes approved in 2021, now allow for 6-storey rental buildings.

Details include:

  • 54 market rental units;
    • 35 studios & 19 two-bedroom units;
  • 3,900 SF of ground floor retail space;
  • a total density of 3.50 FSR;
  • A proposed height of 70.3 ft.;
  • Two levels of underground parking, providing a total of 61 parking spaces having vehicular access from the lane.

Under the site’s existing C-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 Yamamoto Architecture.

December 16, 2022by david.taylor@colliers.com
Page 1 of 212»

Search the Site

Categories

  • Apartment
  • Condo
  • Development
  • For Sale
  • Hotel
  • Investment
  • Land
  • Market Research
  • Office
  • Rental
  • Retail
  • SOLD


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.

© 2019 Copyright  |  All Rights Reserved