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Office space and office building development in Greater Victoria/south Vancouver Island


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#421 Ismo07

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Posted 24 February 2023 - 09:34 AM

With the province announcing WFH as a strategy moving forward for worker retention and recruiting, downtown Victoria is going to have a plethora of un-leased spaces in the coming years. What do we think will happen with these buildings? Conversions into residential units? Demolition of older office buildings?

 

 

Province owns a lot too, recently sold a building to be built into residential....



#422 Mike K.

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Posted 24 February 2023 - 09:56 AM

Oh they did? Which building was that?

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#423 Ismo07

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Posted 24 February 2023 - 09:57 AM

Oh they did? Which building was that?

 

Blanshard and Fairfield...  Was in Reliant?


Edited by Ismo07, 24 February 2023 - 09:57 AM.

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#424 Mike K.

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Posted 24 February 2023 - 10:03 AM

Oh yeah! The old Electric building.

It will be converted to a hotel, with what the developer hopes will be approvals for a residential tower above.

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#425 Ismo07

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Posted 24 February 2023 - 10:35 AM

OOps


Edited by Ismo07, 24 February 2023 - 10:36 AM.


#426 AllseeingEye

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Posted 22 March 2023 - 03:04 PM

No surprise for those of us working on the HIBC/MSP/Pharmacare contract, which will be taken over by Pacific Blue Cross ~ in the June timeframe, our current employer has officially advised staff that the Yates St HO will be given up as soon as a new tenant or tenants can presumably be found.

 

That building as configured currently offers up just under 70,000 s/f over six floors with a capacity of 600 workers. Those of us who will continue working the HIBC contract will move - officially - to the old West Corp Gateway building on Keating X Rd although they have indicated its quite likely the majority of us can continue WFH if we wish. In the meantime Maximus will look for another obviously smaller location more suitable for a reduced headcount, ideally before fiscal year end in the fall.

 

Not surprising and I would expect more similar moves going forward by other large employers - the question of course will any of them be core government ministries or public agencies?



#427 Mike K.

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Posted 22 March 2023 - 04:03 PM

Wow, ASE, so the space will be made available for sub-lease as of June?

Where will PBC be situated to do the work formerly done by Maximus? And presumably, several hundred Maximus workers will be let go?

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#428 AllseeingEye

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Posted 22 March 2023 - 06:13 PM

Wow, ASE, so the space will be made available for sub-lease as of June?

Where will PBC be situated to do the work formerly done by Maximus? And presumably, several hundred Maximus workers will be let go?

 

No as mentioned above they want to move into a new space_ideally_by or before fiscal year end so they have several months to do so - but there is no drop dead deadline or pressure to do so, its simply a smart business move since they're paying for space currently mostly unoccupied. Remember Maximus Canada is part of a huge Virginia-based entity operating on five continents in nearly a dozen countries so pockets are deep.

 

The move will happen whenever they find suitable space, *ideally* by October - but there is no driving imperative to do its merely the happiest outcome given the current reality.

 

PBC is Burnaby-based and will remain so. Purely IMO - and let me stress I am speaking for no one beyond myself - at a guess considering Maximus' service level performance on this contract over almost 18 years has been exceptional I think the optics for an NDP government of having a US-based corporation managing MSP and Pharmacare was much less palatable than having a BC-based firm do the job. Again this is 100% my opinion and based on no hard information whatsoever. Obviously I was not part of the original bid team so am not privy as to the exact reasons why the BCG opted for PBCS.

 

I don't believe the number of displaced staff will be large; those Maximus people like me working on the current HIBC contract will continue to do so only under the PBCS umbrella. We move laterally exchanging one corporate banner for another is all. Current union policies, procedures remain in force and a new collective agreement was actually signed just last year so all is good on that front. Maximus Canada has many other contracts in place besides HIBC, including with other BC provincial bodies besides the MoH, so the remaining staff in general should be fine with a few exceptions here and there.

 

I do know of those IT folks who will not transition to PBCS many have already been offered positions with another large and very well known entity that also performs a lot of contracted systems and support work for various BCG ministries and related orgs, and so for the most part those folks should be ok.

 

Maximus also has a new national (Canada) managing director with some outstanding experienced executive talent and they will presumably continue to source out new opportunities wherever they present themselves including with other provinces and with the federal government in particular. Contracts already exist in both cases and have done so for several years now so they are relatively diversified in that regard.

 

When you think about it the business model is a nice space to play in by partnering up with all levels of government in whatever local or national or international market they exist: federal, state, provincial, county, territorial etc. With pressure on governments 'everywhere' to deliver services competently and professionally bearing in mind extraordinary costs and other intangibles like finding and hiring staff, Maximus will continue to do very well IMO. Its an extremely well run and managed org and I have immensely enjoyed my time working with and for them. 



#429 Mike K.

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Posted 22 March 2023 - 06:30 PM

Exceptional reading, as always, ASE, thank you.

How many staffers will be moving on to CS, in your opinion? What I’m trying to understand here is the impact on downtown. A 70,000 sq ft office vacating downtown Victoria is major news. I wonder who will want to lease that much space. The province, maybe?

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#430 Nparker

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Posted 22 March 2023 - 06:50 PM

...I wonder who will want to lease that much space. The province, maybe?

For what reason would the Province want/need that space? As of April 1, 2023, aren't they basically allowing anyone to work for any government ministry/department regardless of where they reside in BC? Unless there is a major policy shift in regards to government staffing, the days of the Province requiring additional space in downtown Victoria appear to be over.

Which makes me wonder, who are the projected tenants for Jawl Properties’ 10-storey Capitol VI project?



#431 AllseeingEye

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Posted 22 March 2023 - 07:09 PM

Exceptional reading, as always, ASE, thank you.

How many staffers will be moving on to CS, in your opinion? What I’m trying to understand here is the impact on downtown. A 70,000 sq ft office vacating downtown Victoria is major news. I wonder who will want to lease that much space. The province, maybe?

 

Sorry Mike..."CS"? Do you mean PBCS (Pacific Blue Cross Systems?

 

Purely at a guess perhaps 125-150 warm bodies but that is a guess; offhand I'm not sure how many folks we have in Maximus' Operational Support Services business unit, the one responsible for supporting MSP and Pharma, but that number feels about right. We certainly did maximize all the available space on all floors so having that number of folks move will impact the small businesses in that part of the d/t no question. Especially the restaurant and small cafe sector. On a personal note I will especially miss Soupa Time cafe in St Andrew's square and Honey Bun on lower Yates :)

 

No idea about who ultimately ends up at Yates St but with government under pressure from the union and existing employees generally to remain WFH if it is some incarnation of 'government' I'm thinking it'll be possibly a combination of a smaller BCG or even federal agency and maybe a private sector firm.

 

The most likely option for the latter would be a tech firm - but as we all know that sector is hurting so no idea really. There are six floors configured as office/meeting space so it could well be a mix of several smaller government agencies or businesses. No idea really but it will be interesting to see who does claim the space.



#432 Nparker

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Posted 22 March 2023 - 07:16 PM

Sorry Mike..."CS"? Do you mean PBCS (Pacific Blue Cross Systems?..

I am guessing "CS" = Central Saanich.



#433 Mike K.

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Posted 22 March 2023 - 07:28 PM

Yes, Central Saanich.

But effectively, Maximus is leaving the 700-block of Yates with about 600-700 workers, from what I gather?

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#434 AllseeingEye

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Posted 22 March 2023 - 07:42 PM

/\ Definitely not 700 and I would be surprised if head count was even 600; again from the "what feels about right" chapter and verse I would say ~ 500/+ is closer to the mark. Either way a large enough number to sting at a time when downtown desperately needs good news. Of course they also need a competent city council as well but that is a different conversation.


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#435 Mike K.

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Posted 22 March 2023 - 07:44 PM

10-4, thanks ASE.
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#436 spanky123

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Posted 23 March 2023 - 08:17 AM

Is PBCS picking up all of those workers?



#437 AllseeingEye

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Posted 23 March 2023 - 08:58 AM

Just the ones working the HIBC/MoH contract, otherwise the remainder stay with Maximus to work on other non-HIBC contracted work both provincially and federally.



#438 spanky123

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Posted 23 March 2023 - 10:06 AM


Edited by spanky123, 23 March 2023 - 10:07 AM.


#439 todd

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Posted 24 March 2023 - 08:48 AM

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https://www.timescol...saanich-6751743

#440 AllseeingEye

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Posted 24 March 2023 - 09:14 AM

Once again the media overstates its case and blows things out of proportion: in fact there are not "!!!!HUNDREDS!!!!" of workers stampeding out to CS as speculated by the TC. "Hundreds" sounds dire and apocalyptic and I suppose draws eyeballs and clicks to the story which presumably is the real intent.

 

In fact the total is closer to perhaps 100 to *maybe* 125 warm bodies, tops. It may well end up being less than either figure. 


Edited by AllseeingEye, 24 March 2023 - 09:14 AM.

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