There is some feeling out there with regards to a downturn in new construction; however, you may want to rethink that position if you are holding this position. The city of Colwood about 15 minutes from Victoria has given approval for a billion dollar development. For further information please read the article below from Tartan Publications.
Victoria, British Columbia - The City of Colwood has given fourth and final reading of a bylaw which will permit City Centre Colwood, the $1-billion development on 13 acres on the West Shore of Vancouver Island, to proceed. The project when completed will include over 3.5 million square feet of commercial, residential and amenity space and will give the region a new city centre."City Centre Colwood will be a contemporary work and live place on a scale never before achieved in the Greater Victoria area," said developer Les Bjola of Turner Lane Development Corporation. "It will have a significant impact on economic growth in the region, attracting new companies and residents from across our country and others. We plan to achieve the highest standards in social, economic and environmental sustainability in this progressive new community."
When completed, the development will include new office and residential buildings, a shopping, dining and entertainment district, and substantial underground parking. The on-site work/live population will have easy access to public transportation, pedestrian ways and major highways.
"Our goal is to create a modern, urban centre which will meet the needs of the community and the growing interest in the West Shore - something of which we can all be proud," said Les Bjola. "We already know people want the type of lifestyle Island-living provides, and attracting new companies will bring the employment opportunities which will allow people to live, work and play here."
The development will include a mix of low and high-rise buildings, which will be built in phases with construction expected to start early next year.
"We are experiencing a great deal of interest in this project from British Columbia and beyond," said Adam Gant, CEO of League Assets, the company managing the financing for the development. "The vision for this project is spectacular and investors are recognizing long-term benefit of doing something different in this community."
Over the past 18 months, Bjola and his project team have undertaken an intensive public consultation process to gather input from community members and stakeholders that included surveys, open houses and public meetings. The culmination of this process was the final approval of the bylaw by the City of Colwood council last night.
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CheersBill
Bill EthierB.Sc - REALTOR®
Properties in Victoria Professionals- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.
