Developer snaps up downtown Victoria property, plans 450 rental items
Chard Improvement has acquired the outdated Pacific Mazda dealership web site at 1050 Yates Avenue. (Brendan Mayer/Information Workers)
Developer snaps up downtown Victoria property, plans 450 rental items
Chard has acquired the outdated Pacific Mazda dealership web site at 1050 Yates St.
A brand new 450-unit rental group improvement in downtown Victoria is within the works as Chard Improvement has acquired the outdated Pacific Mazda dealership web site at 1050 Yates St.
The $45-million deal was finalized in November.
“With zoning already in place, we’re centered on advancing the mission by means of the town course of to begin development in late 2023 to early 2024 and sit up for delivering these much-needed rental houses to a vibrant neighbourhood,” mentioned Byron Chard, Chard Improvement’s president and CEO. “Chard’s intent is to develop 100 per cent rental housing on this web site.”
The event agency intends to function and preserve possession and received’t be rezoning the location any additional.
“Chard views the acquisition of this web site as a possibility to proceed contributing to housing options in downtown Victoria,” Chard mentioned. “We’re excited to have the ability to make that contribution at numerous ranges alongside the housing continuum.
Chard Improvement wrote in a press release that that is an thrilling alternative for them to ship a extremely amenitized rental improvement within the Harris Inexperienced neighbourhood.
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