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An anchor tenant will occupy the majority of the building's 11,000 square feet of ground floor retail space.
Tent Cities get set up by the homeless and activists where they are most visible for obvious reasons. But supportive housing is not set up by the homeless or activists. The location is chosen by the government and government agency's that should be choosing the location that meets all of society's needs, keeping in mind who is ultimately paying the bills.
That's not the homeless, drug addicted or mentally impaired future residents of the facility, but rather the taxpaying public. And I would argue that based on population density the largest portion of that tax paying public live in the downtown core and on its fringes, not in the heart of Gonzales, north or south Jubilee, or Rock Bay or ....etc.
The problem is that a large majority of the denser core and core fringe area residents are renters not owners and are not as financially invested in the homes they live in. If their neighbourhood changes they can simply move and have not lost tens or hundreds of thousands of dollars by doing so but their landlords will. In the end landlords will choose not to invest in the downtown area anymore and the flight to the burbs will surge again, both for homeowners, landlord investors, and renters. Have a look at all the housing starts on the West Shore in the last 8 months (single and multi family) and the slow down in the core. The stats paint a pretty clear picture.
Will the acquisitions of hotel properties attract the much larger group of homeless from Vancouver to Victoria? How long until other cities communicate Victoria's supportive housing policies? Has city council gone down a very slippery path that tax payers will see no end to tax hikes?
Will the acquisitions of hotel properties attract the much larger group of homeless from Vancouver to Victoria? How long until other cities communicate Victoria's supportive housing policies? Has city council gone down a very slippery path that tax payers will see no end to tax hikes?
Probably not, as BC Housing has also been picking up hotels and development sites in Vancouver. The province bought three Vancouver hotels in June.
A chain of nail and beauty salons known as The Ten Spot is opening at location at the base of the building. 2,165 square feet remain to be leased.
Ten on the 10th 1 Year Anniversary: Real-estate development Q&A with Mike Miller of Abstract Developments
Developer Mike Miller chats about real-estate development in the Capital City.
Downtown Victoria's housing inventory to skyrocket by 1,500-units between 2018 and 2019
Approximately 1,500-units of condominiums and purpose-built rental apartments will receive occupancy status over the next two years.
Abstract Developments celebrates groundbreaking of Black and White condo at Fort and Cook
The six-storey, 75-unit condo development with ground floor retail space will be completed by late-2018.
Buyers flock to pre-sale condos and houses as re-sale market squeezed
Surge in pre-sale home purchases fuelled by record-low re-sale inventory.
Amenity-rich Black and White development on track for mid-April sales launch
Abstract Developments' most ambitious undertaking, a 75-unit mixed-use project at Fort and Cook streets, promises to redefine Victoria's modern architecture.
81 unit mixed-use development approved at 1101 Fort Street
A six-storey condo with ground floor commercial space has been approved at the intersection of Fort and Cook streets.
Larger units trump studios at Fort and Cook condo development
A mixed-use condo and commercial proposal at 1101 Fort Street is dropping studios in favour of larger units and promises a "very exciting" retailer.
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