Construction of a presentation centre at Vic West’s Dockside Green development hints at the possibility of a near-term resurrection of the mega project after a lengthy development hiatus.

 

The 15-acre property bordered by the Bay Street Bridge and Esquimalt, Tyee and Harbour roads, was once touted as the ‘greenest’ development in North America and received accolades from across the world for its environmentally-forward architectural designs, eco-friendly materials and an on-site sewage treatment plant.

 

However, build-out of the 1,500 resident community was halted following the market crash of 2008 which forced then partners VanCity Credit Union and Windmill Developments to postpone the future phases of what was and still remains the largest development undertaking in the City of Victoria.

 

 

Nearly a decade on VanCity sold Dockside Green's undeveloped land to Vancouver-based Bosa Development (not to be confused with Bosa Properties). The deal, first reported on by Citified in the summer of 2017, closed later that year with a transaction value of $50 million.

 

Although several parcels at Dockside Green have seen limited construction activity since the completion of the last phase of condominiums in 2009 – namely a low-rise office building and two three-storey affordable rental apartments – the project’s remaining highrise residential towers, office spaces, public plazas and amenity contributions have remained all but a vision. A planned Merridale Cidery & Distillery, which was initially expected to open by mid-2019, also remains in a holding pattern (albeit under the direction of third party proponents unaffiliated with VanCity or Bosa Development).

 

With Bosa now at the helm, its overtaking of the project has been largely seen as an injection of life into a concept that had lost its way. With decades of experience and solid financial backing, the company is expected to reignite construction activity by 2020 with the first of a series of residential phases that will eventually culminate in 1,200-units of housing.

 

Bosa's ultimate intentions remain to be seen, but for now, the sight of the presentation centre's construction at Harbour and Tyee roads is a welcome sight for adjacent neighbours, Vic West residents, and Victorians at-large. C

Receive Citified's timely real-estate news straight to your inbox. Sign up for our newsletter.