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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Condo, Development

29-Storey Condo Building Planned for Hornby & Davie Site

Reliance Properties has submitted their formal rezoning application for 902 Davie Street, a site at the Southwest corner of Hornby and Davie in Downtown Vancouver.

The 15,000 SF site was initially envisioned for rezoning as far back as 2015. The site is encumbered by view cones which have resulted in a sculpted design.

The proposal is to allow for the development of a 29-storey mixed-use building and includes:

  • 179 condo units;
    • 22 studios, 67 one-bedrooms, 73 two-bedrooms & 17 three-bedrooms;
  • 4,716 SF of retail space;
  • 36,708 SF of office space;
  • a total density of 12.91 FSR;
  • A building height of 348 ft.; and
  • 219 vehicle parking spaces and 437 bicycle spaces.

This application is being considered under the Downtown Official Development Plan and the Potential “Benefit Capacity” in Downtown Policy.

The architect for the project is Neil M. Denari Architects and Bingham + Hill.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/904-920-davie-st

January 18, 2024by david.taylor@colliers.com
Development, Office, Retail

578-Room Hotel Planned for Pender & Richards Site

Marcon has submitted a rezoning application for a site at the Southwest corner of Pender and Richards Streets in Downtown Vancouver.

The site consists of three parcels, a 6-storey parkade at the corner, a 2-storey retail/office building, mid-block on West Pender street, and the Lumbermen’s Building, an 8-storey office and heritage building, to be retained in the new development.

The proposal is to allow for the development of a 32-storey hotel that includes:

  • 578 hotel rooms;
  • 20,000 SF of retail and restaurant space;
  • 44,132 sq. ft. of office space;
  • A total density of 22.81 FSR;
  • A building height of 318 ft.; and
  • 146 vehicle parking spaces and 91 bicycle parking spaces.

The application is being considered under the Downtown Official Development Plan) and Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architect for the project is Henriquez Partners.

March 3, 2023by david.taylor@colliers.com
Development, Office, Retail

7-Storey Office Building Planned for Seymour Street Site

A development application has been submitted by Bene Group for a 7,500 SF site in Downtown Vancouver at 852-872 Seymour Street. The development proposal is for a 7-storey office building with heritage retention and commercial at the ground level.

Details include:

  • 41,240 SF of office space;
  • A building height of 70 ft.;
  • Total density of 5.5 FSR (including 10% Heritage Preservation Bonus)
  • Three levels of underground parking with 34 stalls.

The proposal entails preservation and restoration of the existing 1926 heritage building on site. The site area is 62.5 x 120 ft.

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The subject property sold in 2020 for $15,000,000, or $364 per buildable SF based on the application.

The architect for the project is Arno Matis Architecture.

July 11, 2022by david.taylor@colliers.com
Apartment, Development, Retail

128-Unit Rental Building Proposed for Downtown Site

A rezoning application has been submitted by Pacific Reach Properties for a site they own at 314-328 West Hastings Street in Downtown Vancouver.

The site is currently comprised of three older lowrise commercial buildings.

The proposal is to allow for the development of a 12-storey mixed-use, rental apartment building that includes:

  • 128 market rental units;
    • 87 studios, 5 one-bedrooms, 15 two-bedrooms & 21 three-bedrooms;
  • 4,300 SF of retail space at grade;
  • A total density of 8.16 FSR;
  • A building height of 105 ft.;
  • 8 vehicle parking spaces and 279 bicycle parking spaces.

The application is being considered under the Downtown Eastside Plan and the Rezoning Policy for the Downtown Eastside.

The architect for the project is Pacific Atelier Architecture.

June 1, 2022by david.taylor@colliers.com
Development, Investment, Office

815 Hornby Sells in $93 Million Deal

815 Hornby Street, a 6-storey office building at Hornby and Robson, has sold to Reliance Properties for $93,000,000. The 62,000 sq ft. B-class office building sits on a prime 18,660 sq ft. site that can be redeveloped to a greater density for a commercial or mixed-use highrise in the future.

The property was not publicly offered for sale, but offers were entertained from multiple buyers.

The building had been owned by the same family since 1990.

June 4, 2021by david.taylor@colliers.com
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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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