Esquimalt never boomed in 2003-2008, and never lost in 2009-2012. So they came out unscathed without giant pits and bungled projects (think Colwood), but where they’ve really felt the pain is with many projects receiving approvals and never proceeding even in this market. That’s all changing now with Westbay Quay, Verde Green, the new liquor store, the Red Barn Market, English Inn, Town Centre*, etc.
*My understanding is that the Town Centre development is delayed due to BC Justice Institute pulling out as the anchored office tenant, and the lack of construction workers. But it is going ahead.
That's probably a bit of an exaggeration at this time, but if Esquimalt sticks with nondescript, 6-storey and under wood-frame residential projects it certainly will never get worldly recognition. The entire length of Esquimalt Road from the CoV border to Admirals Road is prime for significantly more density, even if it does mean those silly garden medians have to be removed.
I look forward to the day when someone proposes redeveloping the "stuck in the 1960's Esquimalt Plaza". Now that will be a signal that E-town's time as come.
I was kidding