I’m not a project costing expert but if they have to seismically upgrade the old building I’m not sure they get enough return here.
If you asked people today where they’d love to live, Douglas, Hillside, Gorge and Government would not be high on many lists. It does not have the appeal of the old Hudson Bay conversion.
Well, given the tight rental market you might see some interest, especially if the rentals are priced competitively. The location is excellent from both a road and transit perspective (you can easily catch a bus to most to the west shore, downtown, or Saanich peninsula from here, and one can quickly drive over the Bay Street Bridge from this location to reach employers in Vic West and Esquimalt), and it's a short walking distance away from the shopping plaza at Hillside/Blanshard that is home to Boston Pizza, Tim Horton's, etc.