Victoria’s Capital Iron land sold to Vancouver developer

The purchase to be complete in August

The Capital Iron and surrounding land, which covers two prominent downtown blocks with heritage significance in Victoria is being sold to Reliance Properties, a privately owned Vancouver company.

Located on Victoria’s Upper Harbour, the total 6.7 acres are mostly undeveloped with only 93,000 square feet of built commercial and retail space, including three registered heritage buildings. Capital Iron, the popular namesake tenant, occupies about half of the built space and has roots dating back 80 years.

READ ALSO: Mayors of Victoria and German city of Dortmund meet to talk innovation

Earlier this month, Victoria council marked the north end of downtown as a future Innovation District — an area to have diverse uses and be a hub of technological innovation.

READ ALSO: Latest Victoria economic plan features new conference centre, downtown tech transformations

“We look forward to collaborating with the current users, like Capital Iron retail store, and the community to create a master plan that incorporates the site’s heritage into a vibrant waterfront with high-value jobs, institutions, homes, and public amenities,” said Jon Stovell, president and CEO of Reliance Properties. “The Capital Iron lands have more than 400 feet of water frontage, making it a unique, attractive, and exciting location.”

The purchase is expected to be complete in August.



kendra.crighton@blackpress.ca

Follow us on Instagram
Like us on Facebook and follow us on Twitter.

Comments are closed

Just Posted

Vancouver Iland pig hogs the limelight by crashing Saturday night party

Central Saanich oinker reunited with owner thanks to missing animal help group

Canadian Ferry Association cautions against politicizing BC Ferry operations

Reasonable safety, not politicized safety way to go, Canadian Ferry Association says

Beloved Parksville volunteer awarded key to the city

July 6 (her 90th birthday) proclaimed as ‘Joan Lemoine Day’

EDITORIAL: Weather playing guessing games

Remember those near zero precipitation totals of July 2017 and ‘18?

Feds announce $8.3M to deal with ‘ghost’ fishing gear in B.C. waters

Ghost gear accounts for up to 70 per cent of all macro-plastics in the ocean by weight

The pandemic is widening Canada’s workplace gender gap

Gender pay gap is incentivizing fathers to work while mothers watch children, a new B.C. study has found

Cowichan School District wins top trades training award

“The welding program provided an amazing head start on my career”

Victoria Classic Boat Festival cancelled due to safety concerns

Organizers say Inner Harbour doesn’t provide enough space for physical distancing

Renowned Greater Victoria hockey player back to help with female youth teams

Micah Zandee-Hart has played for the senior national team since 2016

Virtual film industry career fair offers chance to talk with the experts

Experts in 11 different departments, three film union representative will be in attendance

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

RCMP recovers more than $30,000 in stolen property from Saanich storage unit

Items linked to several thefts across Greater Victoria

Canadians with disabilities disproportionately hit by COVID-19 pandemic

More than four out of 10 British Columbians aged 70 and up have various disabilities

Most Read