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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, Office, Retail

Mixed-use Development Planned for Cambie & 42nd

Viva Grand Developments has applied to rezone a site that they own at Cambie Street and West 42nd Avenue, across from Oakridge Centre. The plan for the 31,194 SF site at 5812-5888 Cambie Street is to rezone from the existing C-2 to CD under the Cambie Corridor Plan to allow a 10 and 8-storey mixed-use development, including:

  • a total of 117 residential units;
  • 20 studios, 28 one-bedrooms, 50 two-bedrooms & 11 three-bedrooms
  • 8 live work units at the lane;
  • 6 commercial units at grade totaling 14,700 SF;
  • 21,000 SF of office space;
  • a maximum building height of 116 ft.;
  • a total density of 5.22 FSR; and
  • 215 underground vehicle parking spaces and bicycle spaces.

5812-cambie5812-cambie_2 5812-cambie_1Viva Grand had acquired the site, currently occupied by single storey retail, in 2013 for $26,000,000.

The architect for the project is IBI Group.

The full rezoning package can be viewed here: http://rezoning.vancouver.ca/applications/5812-5888cambie/index.htm

January 9, 2017by 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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