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.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Oak Bay pandemic project gets 300 submissions

Gage Gallery exhibit shows how people cope during crisis

Peninsula food bank receives $1,000 donation from local retailer

House of Lily Koi raised the money through the annual food bank fundraiser

Garden-sharing map connects Victoria landowners and gardeners

U-Map created by Young Agrarians after COVID-19 created uptick in garden matching requests

Saanich wins award for climate plan cut from 2020 budget

‘It’s truly an exceptional plan,’ says councillor disappointed with lack of funding

QUIZ: A celebration of dogs

These are the dog days of summer. How much do you know about dogs?

Annual music event in Comox Valley celebrates online instead

Vancouver Island MusicFest holds virtual celebration set for July 10

Police ramp up efforts to get impaired drivers off B.C. roads this summer

July is dedicated to the Summer CounterAttack Impaired Driving Campaign

Migrant workers stage multi-city action for full status amid COVID-19 risks

‘COVID-19 has exacerbated an existing crisis’

Okanagan school drops ‘Rebels’ sports team name, citing links with U.S. Civil War

Name and formerly-used images “fly in the face” of the district’s human rights policy, says board chair

PHOTOS: B.C.’s top doc picks up personalized Fluevog shoes, tours mural exhibition

Murals of Gratitude exhibit includes at least one portrait of Henry alongside paintings of health-care workers

In troubled times: Independence Day in a land of confusion

Buffeted by invisible forces and just plain worn out, the United States of America celebrates its 244th birthday

Stop enforcing sex work laws during COVID-19, advocates say

There are provisions in Canada’s prostitution laws that make workers immune from prosecution, but not from arrest

Liberal party finished 2019 having spent $43 million, raised $42 million

All political parties had until midnight June 30 to submit their financial reports for last year

Most Read