JUNE 2024 CAPITAL REGION COMMERCIAL REAL ESTATE REPORT

July 2, 2024

A rendering of Vista Point’s The Ridge, a condominium nearing completion off Bear Mountain Parkway on South Skirt Mountain in Langford. The luxury offering promises sweeping views of the Capital Region, and beyond. © Seacliff Properties / Keycorp Development

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By Mike Kozakowski of Citified.ca

ESQUIMALT
Vancouver-based Intracorp Projects has submitted a rezoning application to the Township of Esquimalt, that if approved and built, would yield the second-tallest building in the municipality. Intracorp’s 21-storey proposal near CFB Esquimalt’s fire hall is seeking a massing significantly taller than the township’s present-day built environment, and well above proposals already approved for the western end of Esquimalt Road, albeit at a shorter height than the recently approved Carlton Club redevelopment at 26 storeys on Esquimalt Road at Head Street. Read more here

LANGFORD
A mountainside condominium, perhaps the most uniquely situated of any projects in the Capital Region, is nearing completion along Bear Mountain Parkway in Langford. The Ridge at Vista Point, from developers Seacliff Properties and Keycorp Development, has reached its six-storey height along the 1800-block of Selenite Place on the southern slope of South Skirt Mountain offering literally unimpeded, expansive views of the Capital Region, the Salish Sea, and Washington State’s Olympic Mountain Range from its one-through-three-bed residences (ranging from 739 to 1,536 square feet plus outdoor living space). Read more here

New-build townhomes in Langford’s ‘lake district’ are on-track for summer occupancy as award-winning Abstract Developments begins selling Willow + Glen, the company’s highly anticipated first-ever West Shore project that is setting a new standard for Victoria’s suburban townhome market. Situated near the intersection of Jacklin Road and Sooke Road, Abstract is delivering a collection of nature-inspired three and four-bedroom residences featuring timeless exterior design, professionally curated interiors, and family-friendly amenities all in walking distance to some of the West Shore’s best natural landmarks and parkland. Read more here

OAK BAY
There’s a first time for everything. Thanks to new Provincial regulations and changing attitudes towards infill housing even in Victoria’s most established traditional neighbourhoods, one Uplands home could turn into several. The property owner could have the opportunity to secure a historic subdivision of a 1.15-acre residential property at 3275 Upper Terrace in Oak Bay, which stretches through to Midland Road. Subdivisions in the Uplands are so rare that no modern records of a successful application exist, according to planning staff. Read more here

VICTORIA

A long-vacant downtown Victoria property and an adjacent surface parking lot, formerly approved for a 15-storey office tower nearly 20 years ago, could be redeveloped into a highrise residential block with ground floor commercial space. Developers Tri Eagle Development Corporation and Jawl Residential alongside architectural firm Cascadia Architects have filed a rezoning and development permit application with the City for 1620 Blanshard Street and 741 Fisgard Street, two contiguous parcels overlooking the Blanshard and Fisgard streets intersection immediately south of the recently completed multi-phased, high density Hudson District, currently home to Victoria’s two tallest buildings. Cascadia’s architectural plans depict a heavily glass-clad tower rising 22 storeys, with over 150 suites in studio through two-bedroom layouts. Nearly 5,000 square feet of ground floor commercial space is planned, while underground parking will accommodate just over 100 vehicles. Read more here

Plans to modernize and expand the Glenlyon Norfolk secondary school campus (GNS) in Victoria’s Gonzalez neighbourhood have taken a major step forward. The school’s administration has filed a formal application with the City of Victoria for a rezoning or official community plan amendment for 728-733 Laurentian Place, 724-830 Maddison Street, and 731-781 Richmond Avenue, with a campus redevelopment vision “to create a dynamic environment where academic pursuits are balanced with activities that nurture well-being, foster community connections and inspire learning across a diverse breadth of subjects from technology and athletics to sciences, arts and culture,” the application package states. Glenlyon Norfolk’s plans for its Pemberton Woods Campus Renewal include on-campus housing, modern academic buildings and sports facilities, and most critically, a reconfiguration of campus structures to front Richmond Avenue, where currently a soccer pitch/field is located, and a field relocation to Maddison Street. Read more here

Aryze Developments has completed demolition of an aged apartment building at 822 Catherine Street between Bella and Langford streets in Victoria’s Vic West neighbourhood, and is readying to start construction on a three-storey rental block. The 27-unit building, designed by Winnipeg-based 5468796 Architecture, will be comprised of studio, one, two and three-bedroom units, along with a ground floor retail space fronting Catherine Street. 10% of the homes, developer Luke Mari tells Citified, will be rented at 30% below market value. Read more here

Mike Kozakowski is with Citified Media and can be reached at mailto:mike@citifiedmedia.com

Copyright (C) 2023 by Citified Media Inc. Content under license to Business Examiner.

 

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