People in Victoria will have access to more than 500 new rental homes, retail spaces and a public plaza, as construction begins on a major redevelopment at the corner of Douglas and Caledonia streets.

“This big project is more than just tall buildings. It’s about creating attainable homes, opportunities and spaces where people can connect and thrive,” said Christine Boyle, Minister of Housing and Municipal Affairs. “Through meaningful investments and partnerships, we are helping build a stronger, more inclusive downtown Victoria for everyone who lives and works in, and visits, the community.”

On the site of the former Capital City Centre Hotel at 1961 Douglas St. and 710 Caledonia Ave., the redevelopment will provide a total of 505 rental homes in three concrete highrise towers. A plaza on the southeastern corner will provide a variety of community amenities, such as office spaces, a child care facility and a grocery store.

“This development marks another significant step forward in the city’s priority to increase housing choices for Victoria residents,” said Marianne Alto, mayor of Victoria. “I’m excited construction is underway on a project that invests in the future of our evolving community with 500 new homes and more amenities and services downtown.”

One of the towers will be owned by the Province, through BC Housing, and will include 133 units, with 20% offered at below-market rental rates to help more people find housing that meets their budgets. The remaining homes in the development will be offered at market rates and will be owned and managed by Chard. These homes will contribute to a stronger rental supply and a more vibrant, inclusive downtown community.

“We’re excited to continue providing much-needed housing to Victoria in partnership with BC Housing on this mixed-use project at Douglas and Caledonia,” said Byron Chard, president and CEO, Chard. “This project reflects our shared commitment to expanding housing options and delivering new community amenities to meet the needs of this growing area.”

The entire project is the result of a partnership between BC Housing and Chard to maximize the redevelopment potential of a number of properties owned by the two parties. The 133-unit rental tower in this development is being supported by $73 million in construction financing and a grant of $8 million through BC Housing’s BC Builds program.

“People in Victoria deserve housing that’s secure, attainable and close to the services they rely on,” said Grace Lore, MLA for Victoria-Beacon Hill. “We’re making that happen faster by investing in projects like this Douglas-Caledonia redevelopment that deliver real results for middle-income earners and families.”

These homes are part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has more than 93,600 homes delivered or underway, including nearly 4,000 homes in Victoria.

Learn More:

To learn more about BC Builds, visit: https://www.bcbuildshomes.ca/

To learn how B.C. is working to deliver more homes for people, visit: https://gov.bc.ca/homesforpeople 

A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/projects-partners/Building-BC/homes-for-BC

To learn how BC Housing is helping to build strong, inclusive communities, visit: https://www.bchousing.org/podcast