Major redevelopment pitched for Victoria's waterfront around the Capital Iron building
Some could call the seven acres of land around the Capital Iron building under-utilized waterfront and a bit of a dead zone.
“It’s seven acres of primarily parking,” said Jon Stovell, Reliance Properties chief executive.
Reliance Properties owns the land spanning from the waterfront, through the Capital Iron building and up to Government Street, and is looking to redevelop it.
“It’s interesting, it’s part of the city’s vision called the Arts and Innovation District,” said Stovell.
The estimated $600-million project is ambitious, combining different building uses together to create a dynamic district.
“Fishing, infrastructure, arts and culture, a new art gallery, residential, rental, arts, live-work,” said Stovell.
A rendering of the proposed redevelopment from Reliance PropertiesThe Art Gallery of Greater Victoria has more than 23,000 art objects in its collection and has long outgrown its current location in Victoria’s Rockland neighbourhood.
“Contemporary art has changed a lot,” said Nancy Noble, director and CEO of the Greater Victoria Art Gallery. “It is no longer a small painting on a wall.”
The gallery says it will be making the move downtown if the project goes ahead and has signed a letter of understanding with the developer, Reliance Properties.
“The big thing is that we get to purpose build a gallery where we can showcase our collection,” said Noble.
“We’re going to be able to give the art gallery, with the cooperation of the city, a piece of land and then they are going to use their own resources to build their own gallery,” said Stovell.
That new gallery is being imagined as five to six floors of space, far more than its current location.
“(The district is) going to be a place where marine activities happen,” said Bob Fraumeni, owner of Finest at Sea.
Finest at Sea’s current operation is based in Victoria’s James Bay. It runs nearly a dozen commercial fishing vessels, a processing plant as well as a fish shop and eatery.
The operation wants to relocate to the waterfront behind the Capital Iron building.
“Hopefully a considerable amount of seafood gets brought across the docks, from sea to table as I say,” said Fraumeni.
The heritage buildings on the property won’t change much with, their current tenants remaining in place.
Under its current configuration, the seven acres of land house about 93,000 square feet of structures, employing roughly 70 people.
If the project is built out, there will be almost 900,000 square feet of structures, employing up to 1,800 people, according to Reliance Properties. It will also include 500 residential units.
“There will be good vibrancy,” said Stovell.
Reliance Properties will be submitting its master plan to Victoria council on April 18. If all goes well, the next step will be a public hearing.
If the project gets the go ahead, shovels could hit the ground within the next two years.
CTVNews.ca Top Stories
Board orders deportation for trucker in horrific Humboldt Broncos crash
The truck driver who caused the horrific bus crash involving the Humboldt Broncos junior hockey team has been ordered to be deported.
Community mourns victims of fatal boat crash near Kingston, Ont.
The three people killed in last weekend's tragic collision between a speedboat and a fishing boat north of Kingston are being remembered Friday.
A woman took her dog to a shelter to be euthanized. A year later, the dog is up for adoption again
Exhausted and short on options after consulting two veterinary clinics, Kristie Pereira made the gut-wrenching decision last year to take her desperately ill puppy to a Maryland shelter to be euthanized.
Group tied to Islamic State plotted fatal Ontario restaurant shooting: Crown
A gunman who is accused of killing a young Ontario man and shooting four of his family members at their small Mississauga restaurant in 2021 was allegedly part of a trio who had pledged allegiance to the listed terrorist group Islamic State, a Crown attorney said in an opening statement in the Brampton murder trial this week.
'A really bad car crash': Why health experts are raising concerns over surging syphilis cases
A sexually transmitted infection (STI) that was once thought to be a thing of the past is now a public health priority for North American doctors.
Purolator truck drivers from Guelph, Ont. save man walking in Hwy. 407 lanes
A pair of Purolator transport truck drivers from Guelph, Ont. are being hailed as heroes for their efforts in helping a person in crisis.
Trudeau responds to American senators calling on Canada to increase defence spending
Stopping short of offering the assurance U.S. senators are seeking, Prime Minister Justin Trudeau said his government is aware there's more work to do in order to see Canada meet NATO's defence spending target.
Toddler dies after being struck by recycling truck in Barrie, Ont. neighbourhood
A toddler has died after being struck by a recycling truck in a Barrie, Ont. neighbourhood on Thursday afternoon.
Milk sold in Canadian grocery stores tested for avian influenza; results released
As avian flu spreads south of the border, Canadian officials are now testing samples of milk sold in grocery stores across the country.