Unanimous Approval of Brightside's Proposed Redevelopment

Brightside Community Homes Article Hero

Colliers International Consulting is pleased to announce the unanimous approval from Vancouver City Council at a Public Hearing of the proposed redevelopment of the Brightside Community Homes Foundation's Edward Byers House on East 12th. Brightside has 64 years of experience owning and operating 26 income-based, rent-controlled properties in Vancouver.  

 

PROJECT HIGHLIGHTS

The redevelopment is the result of a portfolio analysis Colliers Consulting conducted for the non profit group in 2017. The $47 Million dollar Passive House project went to council for a vote on rezoning on July 21st. To get to this milestone Colliers Consulting conducted project feasibility, hired a design team and managed the Letter of Enquiry process with the City of Vancouver.

 

RESULTS

In October of 2019 Vancouver's vacancy rate was at 1%, and the City's Q3 performance target of 2,000 units was not achieved. The 157 unit project will increase the unit count of the current Brightside Asset by 175% and allowing the project to provide much needed additional rental stock to the area. This represents the first of two purpose built rental re-developments Colliers Consulting is managing on behalf of the client.


For More Information, Please Contact:

Gordon Easton

Managing Director, Vancouver Consulting

Vancouver

My career has focused on Urban Planning and development of a wide range of property types. Work has included feasibility studies, consultant selection and coordination, managing the civic approval process and implementation of construction projects.  Working for a variety of client types, my focus is on assiting clients achieve their real estate goals while finding a balance between communiity and private goals. I am a creative problem solver and approach real estate challanges in different ways.

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Justen Harcourt

Vice President, Consulting

Vancouver

In 2006, Justen joined Colliers as an Analyst with the Unique Properties Brokerage Group.  Over the course of two years with Unique Properties he was involved in the underwriting over $200 million worth of transactions ranging from Marinas and Ski Hills to Islands and Timber Portfolios.

In 2007, Justen joined Colliers Consulting as a Planning Consultant.  He currently specializes in providing Advisory, Valuation and Strategic Planning services on behalf of Institutional Clients, Developers as well as Government.

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