$2B Vic West housing development moving forward
Eight hectares of unused industrial land in Victoria’s Vic West neighbourhood is ready to be transformed into 1,900 units of housing.
The $2 billion project, being dubbed the Roundhouse at Bayview Place, is being touted as one of the biggest development projects in Victoria’s history.
The development has been stalled for years – but late last week, on May 4 – Victoria city council pushed the project on to the next phase.
The massive build will include purpose-built rentals, hotels and condo towers. It will also have commercial retail space and public amenities, like a market, in the historic railway buildings.
One of the towers will be for supportive housing, and $15-million worth of land will be given to a not-for-profit.
"That housing provider will work with BC Housing and the CMHC [Canada Mortgage and Housing Corporation] to build a tower of affordable units operated by a not-for-profit," explained Victoria councillor Matt Dell.
Dell is in full support of moving the project forward.
"This is a massive opportunity for the City of Victoria," he said. "It’s basically a 20-acre site, with one of the most important industrial lands."
The sheer scope of the project is garnering attention.
"In terms of scale from 1 to 10, it's a full on 10," said Mike Kozakowski, founder of real estate website Citified.
"It’s hard to argue that it can get any bigger than this on the island."
The project has been stalled for years amid delays in land use approvals from successive city councils.
Council is expected to vote again on the project in a couple of months to send it to public hearing.
The Bayview Place developers hope shovels will be in the ground in a year.
CTVNews.ca Top Stories
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Five areas Canada's foreign interference commissioner says needs more investigation
Commissioner Marie-Josee Hogue released her interim report examining foreign election interference on Friday. Here are five elements of the issue that Hogue says she needs to further probe before she can make conclusions or recommendations.
Police officer hit by driver of fleeing vehicle in Toronto
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
Why your airfare may be getting more expensive
Skyrocketing airfare prices are linked to heightened competition and rising food and fuel, according to the CAA.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
New weight-loss drug Wegovy not a 'magic bullet,' doctor warns
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Manitoba man sentenced to house arrest for keeping fishing tournament funds meant for Children's Hospital Foundation
A Manitoba man who pleaded guilty to keeping the funds raised from an ice-fishing fundraiser for the Children's Hospital Foundation of Manitoba has been handed a sentence of 18 months house arrest.
Funeral today for broadcasting legend and voice of 'Hockey Night in Canada' Bob Cole
A funeral is being held today for hockey broadcasting legend Bob Cole in his hometown of St. John's, N.L.