Posted 10 July 2023 - 01:45 PM
In a meeting with a councillor today, the sentiment is that the newly approved Chard development on Caledonia will spur more residential development north of there.
I think officialdom has tested the industrial space waters for long enough to realize it has failed to launch. If there was really demand for light industrial there, it would have been built, given the low regional vacancy. Dockside Green was also big on the industrial thing, and there’s none there.
Light industrial makes sense where it’s being built now, on the West Shore, close to highways, and on land that isn’t taxed by the CoV. Industrial space in the city centre that is solely vehicle-serviced is a liability due to the traffic congestion and access problems, and it’s more difficult to service the region out of downtown.
Who knows how long Point Hope has left. Their massive expansion effort hasn’t moved forward yet.
-
Victoria Watcher likes this
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.