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The developer knew exactly what was in the leases even before they bought the property. They are just playing hardball and trying to extort concessions from home depot or from Saanich. After all French villas and private jets are expensive,
What exactly is the problem? I can't think of a time where the HD parking lot was full and this proposal doesn't really eat into any parking spaces used by Home Depot customers. The development brings more customers into Home Depot's back yard. What's not to like?
I'm certain this project can be managed with minimal disruption to HD shoppers. Five million in compensation seems excessive, akin to extortion. It's foolish for HD to sabotage the entire dying mall since every other tenant is making a big sacrifice.
Perhaps they're concerned with how this could restrict the potential for Home Depot to expand in the future? They're asking for a 10,000 sq ft expansion as well as the $$.
And...the municipality knew nothing of the 'issue' until it (the issue) reared its ugly head.
My guess is muni will be squeezed and likely was planned exactly as it is playing out at the get-go.
Hard for Saanich to turn down the affordable housing the project promises on a minor issue such as it is between the tenant and developer. A concession can fix this all up nice and tidy-like.
I'd advise muni suck it up and get their pound-of-flesh down-the-road when that developer
comes back for another development.
Saanich's J.J. Morgan Restaurant to close after decades in business as University Heights redev nears
A staple of Victoria's dining industry on Cedar Hill Road at McKenzie Avenue will close April 30th.
A large-scale mixed-use modernization of a Saanich shopping plaza on McKenzie Avenue at Shelbourne Street is on the back burner.
Over 350 residences and some 180,000 square feet of commercial space are planned to modernize the aging Saanich shopping complex.
Over 350 residences and nearly 200,000 square feet of commercial space will transform a significant portion of the Saanich mall.