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[Downtown Victoria] Capitol Six building | Sold - October 2015

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#1 jonny

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Posted 28 June 2013 - 02:36 PM

It appears as though the Capitol 6 Multiplex on Blanshard Street between View and Yates is on borrowed time, at least in its current configuration as a movie theatre with some retail.
 

An aging Victoria multiplex will likely fade to black following Empire Company Ltd.’s announcement Thursday that it’s getting out of the movie-theatre business to focus on Sobeys, its grocery unit.

Andrew Walker, spokesman for the Nova Scotia-based company that owns Thrifty Foods, said its Empire Capitol 6 multiplex at Yates and Blanshard streets, which opened in 1981, will run “as-is” for now.

Empire is keeping the six-screen Capitol, which is not on the market, until it can “realize the real estate value of that property over time,” he said.
Empire’s four-screen University Heights cinema, at Shelbourne Street and McKenzie Avenue in Saanich, is being sold to Landmark Cinemas.


http://www.timescolo...eights-1.336788

I think it's pretty safe to say that Chard's project at the 819 Yates property will go ahead in the next few years. He has a solid track record in that respect.

That being said, what would you like to see where Capitol 6 is? Would you like the building to remain as is and just be repurposed? Should it be torn down and replaced? Would a high rise be out of the question if 17 and 12 storey buildings are put up at 819 Yates (as was the original Emaar proposal)?

I'm not sure, other than I think the existing building looks dated, ugly and unwelcoming. I would welcome something more aesthically pleasing in this spot, but I'm not sure it is a good place for a high rise.

 



#2 Hotel Mike

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Posted 28 June 2013 - 02:42 PM

I think it should be class A office. There are lots of condos coming on stream in downtown Victoria, and this might give them a place to work.
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#3 HB

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Posted 28 June 2013 - 03:22 PM

Seriously ? Office? Your joking right?
There are hundreds of Vacant office spaces in the city the last thing needed is another office building.Every street of in the city has vacant offices. the CIBC building is a great example the thing is nearly empty.

There are so many OFFICE FOR LEASE signs hanging in this city that you could build an office complex with the sign boards.

That building they tore down to build that one was about 70 years old when it was razed.
This current one is only about 30 years old.
Thinks its waste when people starting thinking of tearing stuff down when it hasnt lived its usefull life.
When they built this building the Famous Charlies Eatery in there was pretty good.


The lot should be used to build a swimming pool and bowling alley.
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#4 Mike K.

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Posted 29 June 2013 - 07:04 AM

Office vacancies are normal and the office market is in a very good place right now. If that wasn't the case we wouldn't be seeing a relative boom in office construction.

As for the Cap 6, this gives Chard the opportunity to consolidate the lots and do something on a massive scale.

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#5 sdwright.vic

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Posted 29 June 2013 - 07:49 AM

How about of all things... a NICE movie theatre downtown (with office/ residential above?) A entertainment and multi-use building!
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#6 Holden West

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Posted 29 June 2013 - 07:54 AM

I really hope the market will continue to support real theatres. As long as there are teenagers and first dates, I think they will always be around in one form or another. It's probably been mentioned before here but the ideal situation would be putting one or more screens underground at this site.

And today I learned that the Empire that owns Sobey's/Thrifty Foods is the same Empire that bought this theatre. I never made that connection.
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#7 MarkoJ

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Posted 29 June 2013 - 08:01 AM

Office vacancies are normal and the office market is in a very good place right now. If that wasn't the case we wouldn't be seeing a relative boom in office construction.

As for the Cap 6, this gives Chard the opportunity to consolidate the lots and do something on a massive scale.


That would be awesome!

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#8 Mike K.

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Posted 29 June 2013 - 09:08 AM

Vancouver's Brava towers come to mind. The podium includes either a move theater or a performing arts venue, or both, and could act as inspiration should Chard acquire the Cap 6 property.

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#9 MarkoJ

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Posted 29 June 2013 - 09:43 AM

Vancouver's Brava towers come to mind. The podium includes either a move theater or a performing arts venue, or both, and could act as inspiration should Chard acquire the Cap 6 property.


If Chard was to acquire Capital 6 this would likely be the biggest one phase project ever in Victoria? I am assuming it would probably be done in one phase if there was a podium and two towers?

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#10 UDeMan

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Posted 29 June 2013 - 10:16 AM

This might be the perfect place for a multi-use residential/office building including a relocated YMCA. I know they wanted to move as they have redevelopment limitations on their current location.

#11 Mike K.

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Posted 29 June 2013 - 12:02 PM

If Chard was to acquire Capital 6 this would likely be the biggest one phase project ever in Victoria?

Good question. I suppose that also depends on Chard moving forward in one swoop or just building a tower with a large podium followed by another tower(s) at some point in the future.

All this of course if that is what ends up happening. The acquisition of Cap 6 is just speculation but the recent news certainly gives one some food for thought.

This might be the perfect place for a multi-use residential/office building including a relocated YMCA. I know they wanted to move as they have redevelopment limitations on their current location.


It would be, and one has to wonder whether bringing on a partner to assist with the office component (i.e. Jawl or Tri-Eagle) wouldn't be out of the question. As far as I know Chard has mostly stuck to residential developments.

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#12 amor de cosmos

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Posted 29 June 2013 - 01:09 PM

As for the Cap 6, this gives Chard the opportunity to consolidate the lots and do something on a massive scale.


That would be awesome!


Vancouver's Brava towers come to mind. The podium includes either a move theater or a performing arts venue, or both, and could act as inspiration should Chard acquire the Cap 6 property.


what about that cathedral across the street?

#13 Mike K.

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Posted 29 June 2013 - 02:31 PM

What are your thoughts in that regard?

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#14 gumgum

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Posted 29 June 2013 - 05:37 PM

I think he might be saying that there will be a further height restrictions because of the proximity of the cathedral.

#15 Holden West

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Posted 29 June 2013 - 06:05 PM

^Yeah, there's an off-limits circle around spires and other heritage towers. 100 metres or something like that. Remember Centro, the cancelled project across from City Hall--they oriented the tower such that it missed the imaginary circle by a few inches. So with the Capitol 6 site, the height would have to be piled on the Yates side. Now I thought Chard's plan for the parking lot site would be two phased but I don't know if that refers only to both phases in the parking lot or if he means the theatre would be phase 2.
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#16 MarkoJ

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Posted 29 June 2013 - 06:29 PM

It would be, and one has to wonder whether bringing on a partner to assist with the office component (i.e. Jawl or Tri-Eagle) wouldn't be out of the question. As far as I know Chard has mostly stuck to residential developments.


There is a new partner at Chard (Gordon Wylie) that seems to have a pretty decent resume -> http://www.charddeve...com/ourteam.php#

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#17 Mike K.

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Posted 29 June 2013 - 06:31 PM

Holy smokes, so it looks like the Chard team is now equipped to handle a formidable retail and office project alongside residential.

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#18 amor de cosmos

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Posted 29 June 2013 - 07:27 PM

What are your thoughts in that regard?


whether or not there's that height restriction it's still the right thing to do to leave that cathedral some breathing room. since blanshard is also a busy, visually-competitive downtown street, at very least the corner of view/blanshard would have to be on a smaller scale, it shouldn't have a smaller impact. examples:


link


other

if the y is interested in moving that building would be a good place for it, with retail at street level & offices on other levels. assuming movie theatres will survive they could go underground. the only two places I can imagine highrises, height restriction or not, is on the view st side (not on the corner), and the corner of blanshard & yates across from atrium.

#19 G-Man

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Posted 29 June 2013 - 07:50 PM

^ They could not afford it. I think that if something goes there they will have to be making some money on the project as the lot will not be cheap. Also I disagree that height somehow impacts the church. There are numerous examples globally of a church steeple with taller buildings around them and they still stand on their own.

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#20 VicHockeyFan

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Posted 29 June 2013 - 07:59 PM

There is a new partner at Chard (Gordon Wylie) that seems to have a pretty decent resume -> http://www.charddeve...com/ourteam.php#


In December 2012, I joined Dave Chard and his skilled team at Chard Development Ltd.

Dave Chard's reputation and experience, as well as the quality of this firm's work, was the primary attraction.

After over 12 years at Ivanhoe Cambridge I was tasked with progressive positions that allowed me to develop a very significant and diverse project pipeline. In this role, we created and executed plans for IC's local assets. With two of my projects being near completion and Oakridge being brought to fruition, I felt it was a good time for a new more entrepreneurial challenge.

My goal in joining Chard is leverage my corporate pension fund experience, commercial and mixed use knowledge and established relationships to diversify Chard's Development Portfolio by adding mixed use and commercial projects.

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