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

7-Storey Residential Building Planned for Kits

A development permit application has been submitted for a 50′ x 120′ site at the Northwest corner of West 11th Avenue and Maple Street in Kits; across from Lord Tennyson Elementary School. The plan for the C-7 zoned site calls for retention of the two-storey heritage building on the lane redevelopment of the existing retail building into a 7-storey residential building. Details include:

  • 8 units in total
  • 3 townhouse units and 5-units in floors 3-7 (one suite per floor, all 3-bedrooms)
  • Total density of 2.44 FSR (18,316 SF)
  • 2 levels of underground parking
Existing site

Existing site

2001 West 11th_1The architect for the project is Ankenman Marchand Architects.

The site had been listed for sale with CBRE in 2015 for $4,988,000, and sold in September 2015 for $4,950,000; equivalent to $270 per buildable SF.

February 16, 2016by 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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