The 12.5-acre Colwood Corners development site was purchased by Onni in 2014 following the bankruptcy of League Assets Corporation. The Victoria-based developer had secured approvals for an ambitious mixed-use community — dubbed Capital City Centre — that included a cluster of condo towers rising to 29-storeys, an office building and a large retail component. Construction of Capital City Centre’s first phase had begun in the fall of 2012 only to stall by the following summer.

The first component of the project will be comprised of eight buildings ranging in height between one and five-floors with a combined total of 152,000 square feet of commercial space. Some 250 rental apartments will be spread among three mixed-use buildings rising to five-storeys. Future phases will include additional residential buildings along Jerome Road and Belmont Road bringing the project's density total to approximatly 500-units.