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Parking lot pitched for Blanshard and Fisgard streets

A two-storey building described by owner Tri-Eagle Development Corporation as at its life's end will soon be razed to make way for a surface parking. The move comes amid skyrocketing demand for parking stalls in downtown Victoria.  Google/Citified.ca

Parking lot pitched for Blanshard and Fisgard streets
MIKE KOZAKOWSKI, CITIFIED.CA
A commercial building at the intersection of Blanshard and Fisgard streets will be razed to make way for a surface parking lot prior to a redevelopment of the property, Citified has learned.
 
Tri-Eagle Development Corporation has applied to the City of Victoria to secure a temporary use permit for 1620 Blanshard Street in order to demolish an existing two-storey building and replace it with 62 parking spaces.
 
“The building is at its life’s end and with the demand for parking in downtown Victoria as high as it is, we’re pursuing a temporary use permit ahead of a future redevelopment of the site,” said Travis Lee, Tri-Eagle’s president.
 
The parcel overlooking one of downtown Victoria’s busiest intersections received approvals in 2007 for a 15-storey, 145,000 square foot office tower dubbed Gateway Green.
 
Due to a softened office market following the project’s approvals, Gateway Green never moved beyond the conceptual stage.
 
Lee does confirm, however, that he anticipates demand for the tower to materialize within several years at which point the upcoming surface parking lot will make way for construction.
 
Tri-Eagle is one of Victoria’s most active development firms with multiple buildings having completed in recent years and several now underway, including the Radius rental complex under construction adjacent to the Royal Oak Shopping Centre in Saanich and 986 Heywood, a sold-out condominium project overlooking Victoria's Beacon Hill Park along Heywood Avenue.
 
Downtown Victoria's parking woes have come about through development efforts of multiple residential and commercial buildings former surface lots. Approximately 1,500 stalls have disappeared from the city centre with no significant re-supply planned by the City of Victoria or private interests. C
  
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