Site-prep for upcoming downtown office tower begins

By Mike Kozakowski • Published on Monday, June 14, 2010 • Categorized as Business & the Local Economy, Construction & Land Development, Local News, Real-estate

Environmental testing and general clean-up at the site of a proposed downtown office tower have begun.

Last week crews began pumping out a pool of water that had collected in the middle of the property at 726-746 Yates Street in preparation for this morning’s preliminary geotechnical investigative work.

Rezoning for the tower was approved in March and allotted for an increase in density and additional uses. The only step left in the municipal process, says Jennifer Mitchell of Concert Properties, is receiving a development permit.

The 12-storey (47.1 meter), 12,000 sq. meter project will include the preservation of the heritage facade of the “English Sweet Shop Building” at 738-740 Yates Street. The portion of Millie’s Lane which fronts onto Yates Street will also be widened to incorporate landscaping improvements.

Site clean-up and environmental testing have begun at the location of an upcoming downtown office tower. Photo © by VibrantVictoria.ca.

Concert Properties has completed several major construction projects in the City that include the Humboldt Valley’s 16-storey Victoria Marriott Inner Harbour hotel and the 20-storey Astoria and 15-storey Belvedere condominiums. Other projects include a 6-storey condominium at the Selkirk Waterfront development along the Upper Harbour and the 6-storey Chelsea luxury residences in Fairfield.

This tower will be Concert’s first office development in Victoria, although the company owns the adjacent 712 Yates property.

To follow the Concert Properties office tower project on the VibrantVictoria.ca discussion forum, click here. For data and statistics on the project, refer to the VibrantVictoria.ca construction projects list entry here.

Tagged as: Concert Properties, construction, Millie's Lane

Responses to this Headline or Article

The five most recent replies to VibrantVictoria.ca's discussion forum's [Downtown Victoria] Era condo (Concert Proerties tower) 726-746 Yates | 15-storeys | Approved thread, the most relevant thread to the above headline or article:

Nparker

Jan 25, 2012 at 8:36 am

Quote: Forgive me if I'm mistaken, but that's the same website that has been up since it first went up in the third quarter of 2011, is it not?

It sure looked familiar when I watched that video clip.

MarkoJ

Feb 02, 2012 at 6:26 pm

Dear Marko Juras,

Concert is excited to announce the much anticipated Preview Opening of Era! Last September, we delayed the release of Era due to uncertainty regarding the HST. Although the government has not yet provided transitional rules, the interest in Era has been exceptional and as such we’ve chosen not to delay any longer. So, to eliminate any tax uncertainty for your clients, not only will early pricing at Era include federal GST net of the New Housing Rebate, we’ll guarantee that as an owner occupant they will not pay any provincial HST on the price of their new home at Era.*
It's about time.

We will continue to provide you information as we progress to our Preview Opening Event − starting February 18 − just a little over two weeks from today! In the meantime, please view the videos below and see why Era is the perfect place for your clients to invest and live.

Dylan Leblanc

Feb 02, 2012 at 8:34 pm

good to hear something, looking forward to this one.

Sparky

Feb 02, 2012 at 9:53 pm

This is a very good indicator for the supply and demand for this product in Victoria.

MarkoJ

Feb 02, 2012 at 10:16 pm

I've represented a number of young buyers purchasing smaller units (under 250k) at the Promontory. Eventually I bought a unit myself :)

Most banks/investors are now looking for a high number of sales during initial marketing; therefore, developers are being forced to offer very attractive pre-sale prices to make the quota.

The spread between pre-sale prices and equivalent completed product is large right now in my opinion.

This building should do well.

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