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
DEVELOPING Slovakia's populist prime minister shot in assassination attempt, shocking Europe before elections
The Slovak defence minister says doctors are fighting for the life of the country's prime minister, who was shot multiple times after a political event Wednesday afternoon.
Transport Canada's UFO 'lead' planned to meet with U.S. intel officials, called info requests a 'wild goose chase'
Canada's transportation department had a UFO 'lead' who tried to 'quell' media interest and planned to meet with U.S. intelligence officials.
'Very expensive lunch': Sask. driver handed a cell phone ticket for using points app in McDonald's drive-thru
A warning from a Saskatoon driver about using your fast-food app while in the drive-thru line — a trip to get some free lunch cost him a lot more than he bargained for.
'The Fly' has become notorious in France after a brazen escape. What's his criminal history?
A prisoner nicknamed “The Fly” has become notorious in France overnight after a daring and bloody escape from a prison convoy in Normandy that left two guards dead.
BREAKING Ontario's 'Crypto King' Aiden Pleterski arrested
Aiden Pleterski, the self-proclaimed 'crypto king' from Whitby, Ont., has been arrested in Durham Region after allegedly running a Ponzi scheme worth more than $40 million.
BREAKING Barge hits a bridge in Texas, damaging the structure and causing an oil spill
A barge slammed into a bridge pillar in Galveston, Texas, on Wednesday, spilling oil into surrounding waters and closing the only road to a smaller and separate island that is home to a university, officials said. There were no immediate reports of injuries.
Person responsible for 1996 drugging of 'Titanic' crew likely not a local: Halifax police
Halifax Regional Police believe a non-resident could be responsible for the infamous drugging of numerous crew members of the 'Titanic' movie with a hallucinogenic in 1996.
Latest updates on the biggest wildfires burning in Canada
Thousands of people in Western Canada remain displaced from their homes as wildfires threaten their communities, triggering evacuation orders and alerts.
OPINION If you think you can’t focus for long, you’re right: Sandee LaMotte
Regaining your focus requires you to be mindful of how you are using technology -- a daunting task if you consider the average American spends at least 10 hours a day on screens.