Acquired: The Iconic Times Colonist Building in Victoria, British Columbia
A true off-market acquisition, with significant future development potential. A phased-in refurbishment, build out and development for this iconic site in British Columbia's capital city where residential market vacancy is estimated at below 1%. The contemplated refurbishment, and entitlement of existing land and building in conjunction with the Community Plan. Development of 210 residential units and 270,000 SF of residential real estate. Final resulting Property Value after development estimated at $120M.