New Rental Development in Downtown Victoria
A significant rental development in downtown Victoria is commencing shortly after the Province's announcement of housing targets.
The citified.ca reports that the largest rental development project ever to grace the heart of Victoria is currently in the process of preparing the site where Fountain Tire used to be on Government Street.
This project, known as Spencer Block, comprises almost 280 homes spread across two buildings, each standing five stories tall. It is set to revamp 1.5 acres of currently vacant land located along Herald and Chatham streets, within the 600-blocks of Government Street.
On the ground floor, Spencer Block will feature approximately 19,000 square feet of retail space along its three street-facing sides.
For parking, an underground facility will be available, capable of accommodating 85 vehicles, including spaces for visitors and retailers.
The development partners, Nicola Wealth and Denciti Developments, have plans to deliver the units by the middle to the latter part of 2025.