A first proposal for the much anticipated University Heights redevelopment has been submitted to Saanich by owners Wesbild Developments.
The proposal includes 350 rental units that would sit above about 185,000 square-feet of retail space. The new building would sit between McKenzie Avenue and Home Depot, as the latter would remain.
While there are many details in the bid, Wesbild spokesperson Jennifer Derbyshire says itB次元官网网址檚 far to early to say anything is certain.
B次元官网网址淲e donB次元官网网址檛 have a first round of feedback from Saanich [planning] yet, and we havenB次元官网网址檛 gone through the feedback from the Gordon Head ResidentsB次元官网网址� Association, we only met with them on Friday,B次元官网网址� Derbyshire said.
The mixed use rental building is in response to what theyB次元官网网址檝e heard from stakeholders and residents in the area.
At this stage the developerB次元官网网址檚 No. 1 goal is to be in line with the Shelbourne Valley Action Plan, based on the amount of community work that went into that, Derbyshire added.
Built in 1988, University Heights is comprised of 205,500 square-feet of leaseable space, with RBC, CIBC, Thrifty Foods Liquor, Save-On-Foods, Landmark Cinemas, V.I. Fitness, restaurants and independent shops. Wesbild bought it for a reported $52 million in 2015 and the 500,000 square-foot land and buildings are currently valued at $53 million by B.C. Assessment.
The new layout would redesign the use of space at University Heights, adding an additional pair of buildings to the lot. Low rise residential would sit above the main commercial building at tiered levels of six and eight storeys.
For now, the consultation process will continue. What will happen with the existing tenants is unknown, as a leasing manager will work with each tenant on a case by case basis as Wesbild nears the redevelopment, Derbyshire said.
B次元官网网址淲eB次元官网网址檙e still years away from anything but weB次元官网网址檙e excited that the community is ready for [University Heights] to be replaced.B次元官网网址�
