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Former League Assets property eyed for rental housing

Artist's rendering of a three building, 33-unit rental housing proposal at Quadra-Hillside's Quadra Villa residential community.  Eric Barker Architect

Former League Assets property eyed for rental housing
MIKE KOZAKOWSKI, CITIFIED.CA
Development plans have been revised for an expansion of the Quadra Villa residential community in Victoria’s Quadra-Hillside neighbourhood.
 
Envisioned for a surface parking lot between the 2800-blocks of Quadra and Fifth streets and a small residential property along Fifth Street, is a trio of three-storey, one and two-bedroom rental apartments totalling 33-units.
 
The buildings will be situated south of Quadra Villa’s existing two-storey complex consisting of 64-units.
 
A proposal from earlier in the year sought approvals for a two building project totalling 24 one and two-bedroom units.
 
Updated plans now include a new 12-unit, one and two-bedroom woodframe apartment fronting onto Fifth Street, a nine-unit counterpart consisting of one-bedroom layouts immediately to its north, and a 12-unit, one and two-bedroom building to the west near Quadra Street. Homes will range between 400 and 700 square feet.
 
Surface parking capacity adjacent to the proposed buildings will also increase to 64-stalls from the initially planned 55-stalls. Four additional surface parking stalls will be situated along Topaz Avenue north of Quadra Villa’s existing buildings while 12 new stalls will front onto Fifth Street to the east.
 
Pending successful approvals, construction could begin next year.
 
Quadra Villa underwent a $2-million renovation between 2011 and 2013 by former owner League Assets Corp. The now-bankrupt development and investment firm – known mostly for its plans to build Capital City Centre at Colwood Corners on the Westshore – initially planned to transform the property’s surface parking lot into four lowrise condos. Despite receiving approvals to proceed to a public hearing, the project stalled following League Assets' financial unraveling. C

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