Developers behind plans for a large mixed-used community on the Roundhouse lands have donated a $15-million site in Vic West to the Greater Victoria Housing Society, which plans to build an 18-storey tower with 180 rental units of affordable housing.
“It’s very significant and it’s a perfect spot for families and individuals on a bus stop, transportation corridors into downtown, across from a major park and close to two other properties the society operates,” said Munro. Munro said the society hopes to get the project before Victoria council before the Oct. 15 civic elections and to a public hearing before the end of the year. That way, detailed designs of the building can get underway, with a plan to start construction in 2024, with occupancy by 2027.
The estimated capital cost for the development is $72 million, with construction costs estimated at $52 million.
They must have made some serious cash to do that!
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