Metro LandShare Report First half 05
introduction Through the first half of 05, the Metro multi-unit residential land market saw 00 transactions worth approximately $845 million, which is up from approximately $59 million across the same number of transactions. Interestingly, of the 00 transactions, 4% were zoned high density in 04 versus 6% in 05. Focused high density, Live-work-play developments Continue to grow Coquitlam Centre, Oakridge Mall, Brentwood Mall, and now Lougheed Town Centre are all examples of strategic regional and municipal planned growth areas that allow for high density mixed-use development. The area-focused plans are designed to concentrate residential, office, and retail developments that promote a Live- Work-Play environment, a strategy developed in the Metro 040 plan. The City of Coquitlam, for example, anticipated the development of the Evergreen Line and proactively rezoned the land surrounding Coquitlam Centre mall to allow for high density residential developments, attracting developers such as Bosa, Onni, and Polygon. This development has attracted many young professionals, families, and retirees looking to downsize due to its proximity to the shopping mall, grocers, and the new LRT. Similarily The City of with Oakridge mall and The City of Burnaby with Brentwood mall, have reassessed the land surrounding major corridors and transit hubs to allow for high density mixed-use development. While Oakridge is still in the planning stage, Brentwood is now a large live-work-play community, with what was once empty parking lots and low density sites. Transaction Value (Millions) $,500 $,000 $,500 $,000 $500 $0 $679 $47 $49 $604 $4 $4 Metro Land Sales Activity $6 $5 $485 $90 $7 $68 $9 $5 $80 $44 $75 $47 $8 $686 $578 $578 $54 $579 $4 $9 $840 $8 $5 006 007 008 009 00 0 0 0 04 Mid Year 05 High Density Medium Density Low Density Number of Deals $48 800 700 600 500 400 00 00 00 0 Transaction Volume CAMBIE CORRIDOR PLAN ENTERS INTO PHASE THREE The Cambie Corridor Plan has now reached its final stage focusing on connecting neighbourhoods with low-medium and higher density mixed-usedevelopments. The City will be looking at more opportunities to provide diverse housing options, such as townhomes and rowhomes. As well, the City plans to explore long-term redevelopment sites within the corridor, such as King Edward Mall. and connecting major projects in the corridor with the phase three developments (ie. Oakridge Transit Centre). Looking at the overall program, the City has approved 6 rezoning applications between 0 and March 05, which includes 6,600 new housing units, of which 60 are rental housing. Additionally, the plan has fostered the planning and redevelopment of Langara Gardens and Pearson Dogwood Lands. The Metro LandShare Report is a series of semi-annual reports on the land market in Metro with a special focus on multi-unit residential land. In addition to a comprehensive analysis of residential activity, we will share our insight into the trends that affect the land market in Metro. Source: RealNet Canada Inc. first half 05
table of contents market summaries Downtown West East North Shore 4 Richmond 5 Burnaby/New Westminster 6 Tri-Cities: Coquitlam, Port Coquitlam & Port Moody 7 Surrey 8 first half 05
vancouver downtown Throughout the first half of 05, downtown multi-family residential land sales reached approximately $50,00,000 across 5 transactions; the same period last year saw one transaction worth $,75000. Discussions continue to circle around the rezoning of Canada Post site, which is expected to include market condominium housing and rental housing, in addition to office and retail. Looking forward, we expect to see this trend continue with the rezoning and redevelopment of existing sites in order to expose the highest-and-best use. Earlier this year, Townline homes applied to the City of to rezone 5 Howe reet, the Quality Inn, to permit a 40-storey residential building. This new development is projected to house 89 market condominium units with a density allowance of. FSR. In the meantime, this site is currently being used as temporary housing, managed by the City of, in an effort to control homelessness. A development application has been submitted to the City of to redevelop 77 Davie reet, which is located on the corner of and Davie reet. The preliminary project plan is to redevelop the existing site into a 7-storey mixed use building including, 94 residential units, ground floor retail, and 47 underground parking stalls, with a total floor area of 69,00 SF. The building height is expected to reach 7 feet with a total density of.85 FSR. mox ll Gilford S well Cardero Denman Bidwell Nicola Sunset Beach Broughton Cardero Pendrell Davie Burnaby Harwood Beach Burrard Bridge Bidwell Bute Nicola Nelson Comox Thurlow Pacific Blvd Broughton Barclay May & Lorne Brown Park W. Georgia Alberni Jervis Burrard Hornby. Paul s H W. Commissioner Bute Haro Drake Pender Hornby Davie Seymour Thurlow Richards Melville Homer Green Park A Burrard Helmcken Robson Howe Nelson Blvd Yaletown/ Roundhouse Burrard W. Georgia Smithe City Centre Richards Hamilton Mainland Canada Pl Dunsmuir Pender Hastings Seymour Hamilton Canada Place Cordova Homer Cambie Beatty Expo Blvd Waterfront BC Place adium Pacific Blvd E. Commissioner adium/ Chinatown Dunsmuir Viad Rogers Arena Water Abbott Keefer Carrall Georgia Viad Expo Blvd Columbia Quebec Science W Powel Pender SPACE RATIO (FSR). 065 Harwood reet & Thurlow reet Private Investor $4,000,000 7,9 9.00 $54. 50 Robson reet Amacon Development Corp. $,750,000 6,5 5.00 $86. 8 Robson reet Amacon Development Corp. $0,800,000 6,40 5.00 $86 Reliance Properties applied to the City of to develop a -storey secured market rental building with retail on the ground floor. The development is proposed at their site on the corner of Bidwell and Davie reet. The project would include 08 rental units with a total gross floor area of 0,97 SF and total density of 7.4 FSR. rage land SALES RANGE (Price per Buildable Square Foot) Downtown Core N/A N/A $00-$50 Downtown East/ Chinatown N/A $95-$05 $90-$75 In the Fall 04 Land Share Report we discussed a project by Bosa Properties at 500 West Georgia reet. Since then, the project has been updated and the development is slated to include 48 residential floors over an approximate 9,400 gross SF The unique design of the building will look similar to stacked Jenga blocks, created by German architect Ole Scheeren. first half 05
th C.P.R. 4 vancouver west West Inglewood Investment continues along major corridors in West, particularly along Cambie reet, Fulton which experienced over 50 transactions YTD. This growth has been stimulated by the 0 Cambie Corridor Planning Program, which 5th Welch is now in Phase Three. Guiding long term growth, this phase will promote the development of diverse housing stock, including row homes, townhomes, and high-density apartments. st Upper Queens Mathers 5th Levels Southborough Dr Taylor Wy Lions Gate Bridge evens Dr Highway Capilano Edgemont Blvd Fell Larson Harbourside Dr Harbourside Pl Delbrook Lonsdale Quay W th W rd S W Esplanad As seen in the key sales below, land assemblies continue to be trending in the West market. Sites located along major corridors, such as Cambie, garner the highest density, This is a strategy of the City to promote high density projects around transit hubs and along major retail corridors. The City of, along with the support of the Heritage Society, have continued into 05 with public consultation on the First Shaughnessy Heritage Conservation Area public hearings. This program was developed last year, and since a moratorium was placed on demolition for one year in order to protect houses built pre-940 s, discussions were held to decide the Shaughnessy area and development of higher density housing. University of British Columbia Wesbrook Mall NW SW W 4th W 0th Crown Dunbar Point Grey W Broadway W 6th Blenheim Macdonald City Centre Burrard Yaletown/ Roundhouse Cornwall Olympic Village Arbutus 4 reet Davie Denman Pacific W th W rd Oak King Edward W 4st W 49th 5 Cambie Waterfront adium/chinatown Broadway/ City Hall E th A King Edward E rd Oakridge/4st E 4st Langara/ 49th Fraser W 57th W 57th V Kingsw SPACE RATIO (FSR). 500 West 57th nue Onni Development Corp. $8,600,000 5,7.0 $6. 906-966 West 8th nue; 907-96 West 9th nue Wesgroup Properties $46,00,000 0,974 n/a n/a. 488, 4889 & 48 Belmont nue 056 B.C. Ltd. $6,500,000 0,09 River n/a n/a 4. 647-657 West Boulevard, 08-0 West 47th nue, 09- West 48th nue 5. 589, 509, 59, 549 & 589 Cambie reet Cressey Developments $6,00,000,66.5 $8 Pure West Financial Holdings Group Inc. In February 05, Costal Health (VCH) partnered with Onni Group as its development partner for the Pearson Dogwood Lands redevelopment project located at 500 West 57th nue. VCH will retain a.-acre parcel of the 5.4- acre site and plans to develop the site for health care and community uses, which will include a 50-bed residential care home, a YMCA, and a community health care facility. With the remainder of the site, Onni Group will focus their development on mixed residential, commercial and retail, as well as public amenities such as community gardens. YVR Airport $8,96,650 40,50 n/a n/a No. rage land SALES RANGE (Price per Buildable Square Foot) West (Excl. Cambie Corridor) $75-$5 $75-$75 $00-$00 Sea Island Centre Blundell Francis Williams Templeton Cambie Corridor N/A $95-$5 $00-$5 Railway Moncton SEA Robertson eveston Hwy No. Aberdeen Lansdowne Brighouse Richmond Dyke Gilbert W 70th No. Oak Bridge Garden City SE N Kent Bridgeport Cambie Alderbridge Wy No. 4 Bridgeport Shell No. 5 Fraser - Delta Thruway George M River W Knight Bridge WESTHAM Westham Island first half 05 Arthur Dr
th 6B vancouver east Inglewood E 9th Both rental and market high density residential projects continue to grow along the Corridor, with most Fulton North projects focused north of th avenue. The Independent, Vya, and a Rental 00 project, The Duke, are just a few of 5th the projects being developed in a newly gentrified area of East. W th The Citizen s Assembly on the Grandview-Woodland Community Plan submitted their final report to the City of during the summer of 05. While this plan is quite comprehensive, some notable features include the recommendation of four-storey residential zoning throughout Commercial Drive, from Grandview Cut to Pender reet, changing the zoning on Commercial Drive and East Cornwall st on the northwest, northeast and southwest corners to retail use on the first floor, and commercial on the second floor with mixed-use on third and fourth floors. Overall, the Citizen s Assembly holds a strong sentiment towards affordability and design, but understands the need for gentle and transitional density. Wesbrook Mall NW SW W 4th W 0th After a rezoning application (706 East 57th nue formally 750 Fraser reet) was approved in September, 04, the City of has now received a development application to construct a six-storey, multiple-dwelling building containing 95 for-profit, affordable rental housing units, with 76 underground parking spaces, and a floor space ratio of.58 (approx. 68,85 SF). Crown Point Grey Dunbar rage land SALES RANGE (Price per Buildable Square Foot) SPACE RATIO (FSR). 56 & 6 Western Hemlock SE W $5,50,000 70th N Kent 5,59 Development Ltd..5 $9. 768, 77, 774, 776 0955 B.C. Ltd. $4,50,000 9,45.5 $0. 77 & 79 East Broadway 8th nue Development Templeton Sea Island Group Centre $4,00,000 8,7.0 $54 YVR Airport 4. 648 East st nue Aura Homes Ltd. $,950,000,066.45 $6 No. Blenheim West River Railway st W Broadway W 6th Macdonald Moncton Upper Queens SEA Mathers Blundell Francis Williams No. 5th Arbutus eveston Hwy Levels Aberdeen Lansdowne Brighouse Richmond Gilbert Southborough Dr Lions Gate Bridge reet Davie Denman Pacific City Centre W rd W 49th Oak evens Dr Burrard Olympic Village Garden City Cambie Bridgeport No. 4 Capilano Welch Yaletown/ Roundhouse Broadway/ City Hall King Edward Oakridge/4st Langara/ 49th Edgemont Blvd Harbourside Dr Harbourside Pl Lonsdale Quay Waterfront adium/chinatown Bridgeport VCC/Clark Broadway E th Commercial E Broadway Renfrew Nanaimo 9th - East $80-$50 $50-$90 $5-$00 Shell Larson E rd E 4st Fraser Delbrook W 57th W 57th No. Taylor Wy Highway W th King Edward W 4st Oak Bridge Cambie Alderbridge Wy Fell No. 5 Chesterfield W Esplanade Fraser - Delta Thruway Clark Dr Knight Knight Bridge Hopcott Tyne Rupert Joyce River Boundary Eton Gilmore Patterson River Vantage Wy Grange Metrotown Imperial Rumble Progress Wy 80th Mt Seymour Pkw Parker Brentwood Town Centre Deer Lake Pkw Burn Nelson Royal Oak Marine Wy Byrne Royal Oak George Massey Tunnel 60th Delta first half 05 W nd Lonsdale Georges W rd E rd E Keith No. 6 Commercial Dr No. 7 No. 8 Nelson No. 9 Dyke on 4 Braemar E Grand Blvd E Esplanade Nanaimo Elliot McGill Dundas Venables st Lynn Valley Earles Brooksbank E Hastings reet Renfrew 49th E Kerr Richmond Annacis Highway Rupert Iron Workers Memorial Bridge 7nd Lillooet Kent S W Riverside Dr Grandview Hwy Blundell TILBURY E Riverside Dr Berkley Old Dollarton Huston 76th Gilmore Willingdon Hyannis Dr Dollarton Hw Spro N
th north shore At mid-year 05, the North Shore had experienced multi-unit residential land transactions with a total volume of $.8 million. Seven of the transactions were recorded as high density projects. Comparatively, at mid-year 04, the North Shore only saw 7 transactions with a volume of $8. million; only two projects were high density. Polygon Homes has applied to rezone the Mountain Court complex for a new multi-phase strata and rental project in four five-storey buildings. The current building is an older apartment complex built in 968 on a 4. acre site. The project proposes a 75-unit market rental building and 68-unit strata building for phase one, and 80 units through two buildings in phase two. The project will have a total of units over 5,87 SF at.8 FSR. Earlier this year, the City of North Council approved the development application from FDG Property Management for 6-65 East Keith road, permitting a 9 unit residential development, of which 4 units will be rental and the remainder stratified. SPACE RATIO (FSR). 4 & 89 East 7th reet Polygon Group $4,640,00 79,77.8 $76. 44 arlight Way Polygon Group $6,80,000,09 n/a n/a. 467 Mountain Highway Wanson Development Ltd. $4,800,000 8,600.5 $74 The City of North has received a development application to rezone and consolidate properties located at 6-68 East rd Road for the development of a six-storey, 40 unit market rental development. The OCP allows for a floor space ratio of.6 with a density bonus of.0. Polygon Development has submitted a development permit to construct a mixeduse project at 9- West Esplanade and 0 Carrie Cates Court. The development includes a two-storey commercial podium fronting West Esplanade and a 5-storey residential building above a -storey commercial podium, facing Carrie SEA Cates Court. The application is currently on hold. first half 05 Wesbrook Mall NW SW W 4th W 0th Crown Point Grey Dunbar Blenheim West River st W Broadway W 6th Macdonald Upper Queens Mathers Inglewood Fulton 5th Cornwall Arbutus Levels Southborough Dr Lions Gate Bridge reet Taylor Wy Davie Denman Pacific W rd Burrard Inlet North rage land SALES RANGE (Price per Buildable 49th Square E Foot) W 49th Oak North $0-$90 $00-$40 $90-$60 W 70th SE N Kent Bridgeport E rd E 4st W 57th W 57th evens Dr Highway W th King Edward W 4st Oak Bridge Cambie Capilano Edgemont Blvd 5th W th Welch Harbourside Dr Harbourside Pl Lonsdale Quay Cambie Alderbridge Wy Fell Larson Fraser Delbrook Chesterfield W Esplanade Clark Dr E th Knight Knight Bridge Lonsdale Georges W rd E rd E Keith Commercial Dr Braemar Tyne River Boundary Eton Grange Imperial Rumble 4 Mt P D Ma n E 9th E Grand Blvd E Esplanade Nanaimo Elliot McGill Dundas Venables st Lynn Valley Earles Brooksbank E Hastings reet Renfrew Kerr E Broadway Richmond Annacis Highway Rupert Iron Workers Memorial Bridge Lillooet Kent S W Riverside Dr Grandview Hwy E Riverside Dr Berkley Old Dollarton Gilmore Willingdon Hyann
6B richmond Wesbrook Mall SW W 4th Oakridge/4st Looking at the first-half of 04 compared to the first-half of 05, multi-unit residential land sales E 4st saw a slight Langara/ drop in transactions from 9 to 7, respectively. Volume has also declined from approximately $7 million in the 49th first half of 04 to $9 million in the first half of 05. W 0th Crown Point Grey Dunbar W Broadway W 6th Blenheim Macdonald Cornwall Arbutus reet W th Olympic Village King Edward W rd W 4st W 49th Oak Cambie Roundhouse Broadway/ City Hall King Edward VCC/Clark Broadway E th E rd Fraser W 57th W 57th Clark Knight Commercia Commercial E Bro Renfre Nanaimo st Nanaimo Earles 49th A MYIE Group applied for a development permit in early 05 for the construction of Richmond s International Trade Centre. Located at 845 Bridgeport Road, the 7,50 square foot site is slated to hold retail, hotel, restaurant, and office. With a total density of.0 FSR (4,000 SF.), the project is anticipated to have three towers: 9 storeys, storeys (office), and 4 storeys (hotel), with a common fivestorey podium that includes retail. The office component will be stratified, which is largely due to the success of Aberdeen Square. Richmond City Council is in the process of terminating all (9) Land Use Contracts (LUC) that include single-family properties within the City of Richmond. Several of the LUC s also include multi-family, commercial, industrial, and institutional properties; a public hearing is expected to commence late 05. This movement is designed to open up the potential of these sites and allow the landlord to achieve the highest and best use. YVR Airport No. River Railway Sea Island Centre Templeton SEA Blundell 4 Francis Williams Aberdeen Lansdowne Brighouse Richmond Gilbert W 70th No. Oak Bridge Garden City SE N Kent Bridgeport Cambie Alderbridge Wy No. 4 Bridgeport C.N.R. No. 5 Fraser - Delta Thruway Knight Bridge No. 6 Elliot Richmond Annacis No. 7 eveston Hwy PURCHASER PRICE SIZE (SF) SPACE RATIO (FAR). 7400, 740, 7440 Railway nue $4,500,000,59 0.60 $0. 985 & 989 eveston Highway & 09 Southgate Road $,050,000 7,094 n/a n/a. 9 & 9 No. Road $,85,000 4,74 0.6 $90 Moncton 4. 9040, 9060, 9080 No. Road $,50,000 9,95 n/a n/a Robertson No. Dyke WESTHAM Westham Island Shell George Massey Tunnel River W 60t Lad Polygon has applied to rezone 7.8 acres of a are site located at 0440 and 0460 No. road from School and Institutional Use to Town Housing, which would permit a unit townhouse development. The preliminary density plans for this site are at a density of 0.7 FSR or 47,496 SF That City of Richmond notes that the density has a maximum FSR of over 0.75x. The remaining 5 acres will be transferred to the City and School and Institutional Use will be maintained. rage land SALES RANGE (Price per Buildable Square Foot) Deltaport Wy 7B Richmond $50 $70 $85 Arthur Dr 5nd 5rd 4B 8th 56th 6th 64th 6 Causeway th 6th Point Roberts Boundary Bay first half 05 st 5
th 6B burnaby/new westminster Burnaby continues to be one of the most sought after markets for investment, which is a sentiment carried forward Queens Mathers Inglewood E 9th from our last two reports. Through Fulton the first half of 05, Burnaby experienced 4 transactions totaling a volume North amount of approximately $6 million dollars, 5th up from 8 sales at $70.7 million the year prior. With ambitious plans W th Welch set out by the City of Burnaby earlier this year, future growth is expected in the Woodlands Neighbourhood and Harbourside Harbourside Pl Dr Lonsdale Quay Port Moody Lougheed Town Centre areas. Over the past year, the City of Burnaby planning department City Centre has been working on adium/chinatown Yaletown/ the redevelopment of the Lougheed Town Centre site, which includes Roundhouse Lougheed Mall Cornwall University of Olympic Village (owned by Shape Properties). The focus of this plan is similar to the Brentwood plan VCC/Clark British Columbia Broadway/ and is undoubtedly triggered by the arrival of the Evergreen City line Hall in 06 and E th Burnaby s efforts to induce high density projects around major transit hubs. The plan King includes. million square feet of residential (5.0 FSR) delivered Edward through towers up to 60-storeys in height. The plan also includes a potential of 4.9 million square E rd feet, or 6.0 FSR, of commercial space, five public arenas including a park, and CAC s Oakridge/4st E 4st that will include the replacement of Cameron Recreation Centre and Cameron Langara/ 49th Library. Another large initiative set out by the City of Burnaby is the redevelopment of the SE Woodlands neighbourhood, which was put forward by Concord W 70th Pacific. N Kent The 6-acre area is set to be divided into six areas, which will include a diverse set of housing VANCOUVER INTERNATIONAL stock ranging from 5 to 55 storey residential high-rises, Templeton AIRPORT mid-rise 4-storey buildings, Sea Island Centre YVR Airport Bridgeport and low-rise units. The project also proposes a. acre park that Bridgeport could include a SEA new elementary school. Brighouse. 4750 Concord Pacific/Sears Richmond Canada (Joint Venture) 680 Cassie nue and 6, 66, WESTHAM 677 McKay nue: Rize Alliance has requested this site be rezoned from RM Multiple Family Residential to CD Comprehensive Development, which will allow the development of two residential apartment buildings at 4 -storeys and 6-storeys, respectively. There will also be 4B a townhouse component and a commercial office-retail component. Residential Deltaport Wy FSR is calculated at 5.0 and the commercial at. FSR. rage land SALES RANGE (Price per Buildable Square Foot) SPACE RATIO (FSR) 9nd SQUARE 88th FOOT (BSF) $00,000,000 90,0 n/a n/a TILBURY. 680 Silver nue Belford Properties $8,78,000 8,95 6.4 $74. 4675 Imperial reet Gur Mehar Holdings Ltd. $6,58,000 69,404.0 $ 4. Wesbrook Mall NW SW 505 Imperial reet & 679, 6789 Marlborough nue *based on proposed density first half 05 W 4th W 0th Crown Point Grey Dunbar No. Blenheim River West Railway st W Broadway W 6th Macdonald Moncton Blundell Francis Williams Robertson Upper No. 5th Arbutus eveston Hwy Dyke Levels Gilbert Aberdeen Lansdowne Westham Island BC FERRIES TERMINAL TSAWWASSEN Southborough Dr Lions Gate Bridge reet Davie Denman Pacific W rd W 49th Oak Burrard Waterfront W 57th W 57th No. Taylor Wy evens Dr Highway W th King Edward W 4st Oak Bridge Garden City Amacon Development Corp. Causeway Cambie Cambie No. 4 7B Capilano Alderbridge Wy Edgemont Blvd Shell Fell No. 5 Fraser Delbrook Larson W Esplanade Fraser - Delta Thruway 5nd st Broadway George Massey Tunnel Arthur Dr 6th 5rd th Chesterfield River W Clark Dr Knight Knight Bridge Lonsdale Georges W rd E rd 8th 56th Point Roberts E Keith No. 6 Commercial Dr 6th Braemar Commercial E Broadway Renfrew 7A E Grand Blvd E Esplanade Nanaimo Elliot Boundary Bay No. 7 C.N.R. Fraser River 9 $,700,000 9,708 4.88* $88 McGill Dundas st 0 Nanaimo 64th Lynn Valley Brooksbank E Hastings reet Venables Earles Renfrew 9th 49th E 60th 7 Kerr Hopcott South Fraser Perimeter Road Tyne Rupert Joyce River Boundary Eton Gilmore Patterson Metrotown Imperial Rumble 9 River Vantage Wy 7nd Progress Wy Edmonds $90-$0 $80-$0 $70-$90 BOUNDARY BAY Brentwood $90-$00 $75-$90 $75-$00 6th No. 8 Richmond Annacis Highway Rupert 7nd Iron Workers Memorial Bridge Lillooet Grandview Hwy Kent S Blundell Ladner Trunk Road W Riverside Dr Nelson Berkley AIRPORT E Riverside Dr Old Dollarton Huston 76th Gilmore Grange 80th Willingdon Delta Mt Seymour Pkwy Parker Brentwood Town Centre Deer Lake Pkwy Royal Oak Holdom Curtis Sperling/ Burnaby Lake Burnaby 4 No. 9 Hyannis Dr Dollarton Hwy Nelson Royal Oak Marine Wy Byrne Holdom Sprott Gilley North Fraser Wy Mt Seymour Sperling Edmonds Deep Cove Derwent Metrotown $0-$5 $90-$0 $90-$40 Lougheed/ Burquitlam $00-$0 $65-$80 $60-$80 New Westminster $90 $0-$80 $40-$70 7A Gerald Lougheed Highway Trans Canada Highway Queensborough Bridg Cliveden e nd Alex Fraser Bridge Wy 9A 6th Annacis Highway 40th Lake City Way Winston Nordel Wy Gaglardi Wy ewardson Wy ANNACIS Barnet Highway Simon Fraser University 0th Production Way/ University Lougheed Town Centre 8th 6th Queens th New Westminster Columbia 80th 7nd Kitson Pkwy Bedwell Bay 84th North Sapperton Columbia Scott 0th Braid Scott Clarke Patullo Bridge Burquitlam Como Lake 58th Bayview 4th 96th ation Blue Mountain 6th Newton 8th Scott April Port Moody Centre. Johns Port Moody Centre Gatensbury Gateway Sunnyside Surrey Central 00th King George 8th 56th nd 84th 76th United Blvd Cres cent 4th 0th Ioco A White Rock 40th 6 East Linton Heritage Mountain Blvd In Austin Coquitlam Hartley King George Highway Grosvenor 64th 6 Colebrook 40th 40th Brunett 08th Av 04th A 00th A Fraser Highway nd 44th 8t North Bluff R
th d 6B Mariner Wy tri-cities With the raised Evergreen Line tracks scaling down major corridors and stations beginning to take shape, the residents of Port Moody and Coquitlam are anticipating new developments around the LRT. With only 8 mulit-unit residential land sales to-date accounting for approximately $8 million, only one transaction occurred with high E 9th density near a future Evergreen Line stations: 570 Emerson reet, Coquitlam - purchased by Bosa Properties. West Earlier this year, Imperial Oil sold its -acre property, Ioco Lands, to a local developer. 50 acres of the undeveloped land resides in Anmore, with the remaining 8 acres in Port Moody. The McGill developer is set to have an open house Eton Burrard Waterfront with the residents and interested parties during the month of July to discuss City Centre adium/chinatown future plans and contribute to the design and master planning Parker process. Olympic Village st The Northwest Burke Mountain VCC/Clark Vision plan is currently in phase one of the phase Brentwood Gilmore Town Centre Holdom Broadway/ three process. As at March 05, Broadway Commercial City Hall the City E of Broadway Coquitlam completed an Opportunities E th Renfrew Rupert Sperling/ Burnaby Lake and Constraints Report to outline the potential with the Canada lands. Wy One major output King outlined that there would be a potential of approximately 0 to 44 Sprott hectares, or Edward ncouver Nanaimo 5 to 56 acres of land available for future 9th neighbourhoods in the designated E rd Deer Lake Pkwy Joyce area. This background research will be carried forward to phase two, where the Oakridge/4st E 4st City will address future land uses, access, and servicing concepts. Burnaby Railway st dway Macdonald cton Sea Island Centre Upper Queens Mathers SEA Inglewood Fulton Blundell Francis Williams No. 5th Cornwall Arbutus eveston Hwy Levels Yaletown/ Roundhouse Langara/ 49th N Kent Templeton Bridgeport 08th SPACE RATIO (FSR) 08th Surrey Central. 06 Brunette nue, Coquitlam Private Investor $4,80,000 6,65 n/a n/a Aberdeen. 570 Emerson reet, Coquitlam Bosa Properties $8,74,700 46,78.5 $75 Lansdowne. 757 & 76 Edgar nue, Coquitlam Brighouse Harbourside Dr Harbourside Pl Lonsdale Quay North Patterson Metrotown Imperial Royal Oak Edmonds Mapleland Edgar Development 9nd $,70,000 5,79 n/a n/a 4. 945 & 95 Charland nue, Coquitlam Blundell Redbrick Properties $,00,000 6,509.85 $75 84th Richmond Gilbert Southborough Dr Lions Gate Bridge reet Davie Denman Pacific W rd W 49th Oak W 57th W 57th W 70th No. Taylor Wy evens Dr Highway W th King Edward W 4st Oak Bridge Garden City Cambie No. 4 Capilano 5th Welch Cambie Alderbridge Wy Edgemont Blvd Bridgeport Shell Fell No. 5 Fraser Delbrook Larson W th W Esplanade SE Fraser - Delta Thruway Chesterfield Clark Dr Knight Knight Bridge Lonsdale Georges W rd E rd E Keith No. 6 Commercial Dr Braemar E Grand Blvd E Esplanade Nanaimo Elliot No. 7 Lynn Valley Brooksbank Dundas E Hastings reet Venables Earles Renfrew 49th E Kerr No. 8 Richmond Annacis Highway Rupert Hopcott Tyne River Boundary River Vantage Wy 7nd Iron Workers Memorial Bridge Lillooet Grandview Hwy Kent S TILBURY W Riverside Dr Nelson Rumble Progress Wy E Riverside Dr Berkley Old Dollarton Huston 76th Gilmore Grange 80th Willingdon No. 9 Hyannis Dr Mt Seymour Pkwy Dollarton Hwy Nelson Royal Oak Marine Wy Byrne Holdom Curtis Gilley North Fraser Wy Mt Seymour Sperling Deep Cove Derwent Gerald Lougheed Highway Trans Canada Highway Queensborough Bridg Cliveden e nd Alex Fraser Bridge Wy 6th Annacis Highway Lake City Way Winston Nordel Wy Gaglardi Wy ewardson Wy ANNACIS Barnet Highway Simon Fraser University 0th Production Way/ University Lougheed Town Centre 8th 6th Queens th New Westminster Bedwell Bay Columbia 84th 80th 7nd North Sapperton Columbia Scott 0th Braid Scott Port Moody Clarke Patullo Bridge Burquitlam Como Lake Blue Mountain 96th 88th 6th Newton 4 Scott April C.P.R. Port Moody Centre. Johns Port Moody Centre Gateway Sunnyside 00th King George 8th Gatensbury nd 76th 64th United Blvd Ioco East Linton Heritage Mountain Blvd Austin Inlet Centre Coquitlam Hartley King George Highway Grosvenor 40th Brunette 04th 00th Fraser Highway 44th Landsdowne Dr Port Mann Bridge 48th 76th 7nd 68th Panorama Dr Coquitlam Central 5nd Johnson 7 Lincoln Coquitlam Central Surrey Lafarge Lake - Douglas Port Coquitlam 56th Pinetree Wy Shaughnessy Mary Hill Bypass Port Coquitlam S Fraser Perimeter th 0th 60th Woodland Pipeline Shaughnessy Pitt River DOUGLAS 96th 88th 80th Broadway 04th 68th Coast Meridian Prairie Woolridge Cedar Dr Burns Lougheed Highway 76th Pacific Highway Pitt Meadows 9nd Harvie 84th 7nd Fraser BARNSTON Robertson George Massey Tunnel 60th Delta Mosaic nue Developments Ltd. submitted an application review for an OCP Dyke ESTHAM amendment, rezoning and development permit on May 6, 05 for the site located at 55 Victoria. The proposal is for 67 RT- townhouse and RT- quadruplex River W units with an average density of 0.70 FSR. Westham Island Arthur Dr 64th 6th 4B 7nd Ladner Trunk Road 40th Kitson Pkwy rage land SALES RANGE (Price per Buildable Square Foot) 58th ation 56th Coquitlam $9-$4 $0-$65 $60-$80 Colebrook Port Coquitlam $0-$40 $0-50 N/A Port Moody N/A $55-$70 $5-$80 40th 48th 60th 40th 64th Pacific Highway 60th 56th 40th 7B first half 05 Deltaport Wy 5rd 5nd 56th th 8th 6th B Bayview 4th 8th Cres cent 4th 0th White Rock 40th nd 8th North Bluff 5nd 0th 60th 68th 0th 84th 88th 7 6th nd
6B D Mariner Wy rey roadway ve Blenheim ancouver ver Railway Macdonald oncton surrey The City of Surrey continues to push forward on the development and production of an LRT system, regardless of the Sprott Winston Nanaimo Austin 9th recent rejection of the transit plebiscite. According to Mayor Linda Hepner, the City Coquitlam E rd Deer Lake Pkwy plans to build the 7-kilometre Joyce E 4st network by relying on public-private partnerships, Burnaby along with provincial and federal funding. The construction of this Patterson 49th E Metrotown LRT system is essential in supporting the Imperial project Royal growth of Surrey s downtown, which is anticipated to increase from Oak DOUGLAS Rumble 0 dwelling units per SE Marine acre Dr to approximately 00 by 040* Edmonds 6th SEA Bridgeport The 5. acre site at 955 King George Boulevard is slated to develop a $50-million, Cambie three-building development focused on senior housing. The site is expected to house two six-storey Alderbridge Wy wood frame buildings for independent living, and one -storey concrete mixed-use building with medical offices and assisted-living. Recent rumors indicate that the project may be required to scale-back due to environmental concerns with Class-A creeks running through the property. This Blundell development is another addition to Surrey s Innovation Boulevard. Richmond Blundell Francis Williams Robertson No. Cornwall Development & Rezoning 6th Permits SPACE RATIO (FSR). 955 King George Boulevard Westone Properties Ltd. $,500,000,069 4.6 $ 6th. 776, 7766, 7788 56th reet Private Investor $,000,000 9,040 n/a $,, per acre. Arbutus eveston Hwy Dyke WESTHAM Gilbert Lio reet Westham Island Davie Denman Pacific W rd W 49th Oak Burrard Waterfront adium/chinatown Lonsdale Quay W 57th W 57th W 70th No. W th King Edward W 4st Oak Bridge Garden City Broadway E th George Massey Tunnel 74, Deltaport 7 Wy 6nd nue & 609, 60, 640 King George Boulevard Causeway Cambie No. 4 7B N Kent st Shell No. 5 Fraser Fraser - Delta Thruway 5nd River W Arthur Dr 5rd th de Clark Dr Knight Knight Bridge 56th Point Roberts No. 6 4B 8th rd Commercial Dr 6th E Esplanade Delta 858 King George: Developer Dawson Sawyer has proposed a 77 unit apartment building and 64 townhomes. The project is situated on a 9.54 acre site was rezoned from RA to CD (based on RM-45 and RM-0) with a combined FSR of. 6nd nue and King George Boulevard: King George ation 64th Ltd. has proposed 8 townhomes on a 5.70 acre site. The site was rezoned from RA to RM-0 with a proposed density of 0.89 FSR. Nanaimo Elliot Boundary Bay No. 7 McGill Dundas st 64th Bro Av E Hastings reet Venables 60th Renfrew E Broadway Earles Kerr Richmond Annacis Highway No. 8 in Hwy Rupert Hopcott Tyne River Boundary Eton River Vantage Wy 7nd Iron Workers Memorial Bridge Grandview Hwy Kent S TILBURY 7nd Ladner Trunk Road Nelson Old Dollarton W Riverside Dr Huston 76th Gilmore Progress Wy Grange 80th Willingdon No. 9 Dollarton Hwy Parker Nelson Royal Oak Marine Wy Byrne Holdom Curtis Gilley North Fraser Wy Sperling Derwent Gerald Lougheed Highway Trans Canada Highway Queensborough Bridg Cliveden e nd Alex Fraser Bridge Wy Annacis Highway 40th 6th ewardson Wy ANNACIS Barnet Highway Nordel Wy 9 Simon Fraser University Gaglardi Wy 0th 8th 6th Queens th New Westminster B.N.R. nd Private Investor $0,50,000 48,04 0.88 $47 rage land SALES RANGE (Price per Buildable Square Foot or as Specified) City Centre $0-$40 $5-$40 $0-$40 Newton Cloverdale Columbia 80th 7nd Kitson Pkwy 84th South Surrey North Columbia Scott 0th Scott Port Moody Clarke Patullo Bridge 9nd 88th 58th Bayview 4th 96th ation Como Lake Blue Mountain Newton 8th Gatensbury Scott April Gateway Surrey Central 00th King George 8th 64th 56th nd 84th 76th Cres cent 4th 0th Ioco. Johns United Blvd A Linton White Rock 40th 40th $,00,000 -$,800,000 per acre,00,000 -$,00,000 per acre $,800,000 - $,00,000 per acre st Hartley King George Highway 40th Colebrook Heritage Mountain Blvd Grosvenor Brunette 08th 04th 00th Fraser Highway 44th 8th North Bluff Landsdowne Dr Port Mann Bridge 48th 76th 7nd 68th 48th Panorama Dr 5nd 5nd Johnson Port Coquitlam Surrey SOUTHERN RAILWAY 0th S Fraser Perimeter 56th Pinetree Wy Shaughnessy Mary Hill Bypass th 0th 60th 40th Buena Vista 60th 8th 60th Woodland Pipeline Shaughnessy 96th 88th 80th 64th 08th 04th $5-$5 N/A $5-$5 N/A $5-$40 $65-$80 Pitt River Broadway 68th 68th Coast Meridian Prairie 7nd Woolridge Cedar Dr Pacific Highway 76th 76th Pacific Highway Burns Lougheed Highway Pitt Meadows 9nd 0th Harvie 84th 84th 6th Campbell River Fr BARNSTO ISLA 7nd 60th 56th 40th nd A 88th 0 Boundary first half 05 8
50 offices in 67 countries on 6 continents United ates: 40 Canada: Latin America: 4 Asia Pacific: EMEA: 08 $. billion in annual revenue.7 billion square feet under management Market Contact: Curtis Scott Manager, Market Intelligence + 604 66 667 curtis.scott@colliers.com Kirk Kuester Executive Managing Director Brokerage + 604 66 084 Kirk.kuester@colliers.com contributors: John Boer* Hart Buck Robert Down Morgan Dyer* eve Fame* Simon Lim* Kelvin Luk Marshall McLeod* George McLachrie Sam Nakhleh* Colliers International 00 reet, 9th Floor, BC Canada + 604 68 4 Oliver Omi Scott Peters Casey Pollard* Jas Sandhu Matt Saunders Sheldon Scott* Dylan Sohi David Taylor Cecilia Tse* Casey Weeks* 6,00 professionals and staff About Colliers International Group Inc. Colliers International Group Inc. is a global leader in commercial real estate services, with more than 6,00 professionals operating out of 50 offices in 67 countries. Colliers International delivers a full range of services to real estate occupiers, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. In 04 the firm handled $97 billion in total transaction value for 84,600 leases and sales. Colliers manages more than.7 billion square feet of commercial properties. Colliers International Group Inc. generates more than US$. billion in annual revenues. With significant insider ownership and an experienced management team, Colliers International has a long-term track record of creating value and superior returns for shareholders previously under the ownership of FirstService, and as of June 05, continuously as an independently owned company. The common shares of Colliers International Group Inc. trade on the NASDAQ under the symbol CIGI and on the Toronto ock Exchange under the symbol CIG. collierscanada.com Copyright 05 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report. *Personal Real Estate Corporation