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Village Green, phase 1 is part of a two-phase redevelopment of multiple properties along the 400-block of Niagara Street between Menzies and Croft streets in Victoria's James Bay neighbourhood.
The first phase of the project will replace 45 rental units currently on the property.
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A redevelopment will bring 92 net new rental units to the corner of Menzies and Niagara streets in James Bay after getting the final go-ahead.
Victoria council on Thursday gave final approval to the 137-unit proposal’s rezoning and development permit.
The final vote on the project was pushed back by about a month so the city and developer, Primex Investments, could prepare a legal agreement giving some tenants the right to return at 20 per cent below market rent. That was secured after concerns were raised about some of the site’s current residents.
https://www.vicnews.com/news/victoria-approves-137-unit-rental-building-bound-for-james-bay/
Primex Investments... [prepared]...a legal agreement giving some tenants the right to return at 20 per cent below market rent
And ensuring that other tenants will pay 20 per cent above market rent. Welcome to socialism.
This is David Schell's photo of the current state of construction (x-posted from another thread)
137 units of modern rental homes now underway in James Bay near Thrifty Foods
Village Green development will deliver rental suites in six-storey build on Menzies at Niagara.
James Bay’s 60-year-old Village Green apartments to make way for 131-unit rental complex
60s-era apartments to be replaced by modern rentals in six-storey, two-phase redevelopment at Niagara and Menzies streets.
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