[Colwood] Royal Roads Place | 105m | 29-storeys | Canceled

Some information on the project updated as of today:

COLWOOD - 1945 Sooke Road (Mixed-Use Dev) - Condominium - Retail - Royal Roads Place

OWNER :- Leston Holdings - c/o Architect

ARCHITECT :- de Hoog & Kierulf Architects - 205-5325 Cordova Bay Rd, Victoria V8Y 2L3 250-658-3367 Fax 658-3397

ARCHITECT :- Davidson Yuen Simpson Arch - 200-1014 Homer St, Vancouver V6B 2W9 604-669-7710 Fax 669-662

STRUCTURAL ENG. :- Read Jones Christoffersen - 220 645 Tyee Rd, Victoria V9A 6X5 250-386-7794 Fax 381-7900

PROJECT :- 29 storey condominium tower - 163 residential units with retail on ground level - 2 levels of u/g parking - 4 storey
granite base - glass and exposed concrete exterior above

STAGE :- Working Drawings - 50% complete

NOTE :- Site is next to Royal Roads University - adjacent to Colwood Creek and backing onto the Galloping Goose Trail

BUDGET.APPROX :- $90 m

^ With that budget, it's well over $500,000 per unit.

yes, it's all high end units. Same as the Michelle place proposal.

That happens to be the same budget as The Falls, actually (up from $63 mil).

I think the biggest question here is: is there really a market for high end luxury condos over $500K in Colwood???

That is perhaps half the question. The other half is are these real applications or are they people just trying to increase the value of empty land?

Any updates on this project? I haven't heard anything in the media lately.

Most likely dead in the water until a new buyer comes along who is actually interested in developing a tower.

There are development firms serious about building highrises out there but they'll most likely scoop up the properties that have these 29-storey and 40-storey rezonings. Whether or not they build that high is another question.

I see. Well that explains the silence around this 'project.' Thanks Derf!

Most likely dead in the water until a new buyer comes along who is actually interested in developing a tower.

There are development firms serious about building highrises out there but they'll most likely scoop up the properties that have these 29-storey and 40-storey rezonings. Whether or not they build that high is another question.

Are you crazy? Wrong location. All the big 24 + storey projects are happening downtown now, ever since the City got bullied!

Mayor Lowe still owes me $20 in lunch money dues. And Councillor Holland hasn't paid her protection fee this month, either.

Some trees are being removed as we speak. Anyone know what the update is on Royal Roads Place highrise?

Colwood tower will go ahead
Father's death won't affect project, son says
Times Colonist
May 26, 2009 6:51 AM

Royal Roads Place, the planned tallest tower in Colwood, will go ahead despite the recent death of the head of the family company, his son said yesterday.

Leslie Mitton, who had lived in Central Saanich for several years, died at home on May 15 at age 64. He had led Leston Holdings, which won approval in 2006 for a 29-storey condominium building at 1945 Sooke Rd.

"We would like to see it developed, so as soon as the market picks up slightly, we can take it on," son David Mitton, said from the company's Edmonton office.

Leslie Mitton had been ill with cancer for a number of years and was unable to see the project through to development, his son said. "The project meant so much to him. He wanted to leave something special behind."

At the time of municipal approval, the condo market was strong, David Mitton said. If built at that time, "I think we would have been quite successful."

Two buildings on the property were taken down, but no further work has been done on the site, he said.

Original plans call for 123 units, averaging about 1,200 square feet, Mitton said.

"Today, I think you would see some of those sizes reduced perhaps, to make it more affordable."

Greater Victoria's housing market was red hot in 2006. Buyers snapped up condos as fast as developers could build them.

But it cooled last year as global economic conditions suffered.

In recent months, home sales have been climbing again in the capital region and average prices have dropped.

Development costs for the tower would likely be about $100 million, up from the $90 million estimated in 2006, Mitton said.

The overall design would remain the same, with a four-storey granite base and an exterior of mainly glass and exposed concrete on the floors above the granite.

http://www.timescolo...1028/story.html

I'll buy a drink for the guy who can build the westshore's first highrise

Wow, I was sure surprised when I saw this tower in the paper again today. It was like a ghost from the past.

Should this thread be moved out of the completed/cancelled forum now?

Wow, I was sure surprised when I saw this tower in the paper again today. It was like a ghost from the past.

My sentiments exactly. I was also surprised why the building never went ahead and death isn't at the top of that list of reasons. I always figured there simply wasn't the interest in it. The WestComms still have yet to prove themselves in the skyscraper arena because so far it's been nothing but plans, drawings, meetings and hot air.

So they are planning to build 123 units at a cost of $100,000,000. That averages $813,000 per unit. Does that include a profit for the developer or is that extra?

this will never happen nor will any other highrise on the westshore, prepare for 4 story woodframes and single family subdivisions