A Vancouver-based developer is bringing some modern updates to a heritage-facade building in downtown Victoria.
The collected properties in the 1300-block of Broad Street, including the heritage Ducks Building, will soon be transformed into a 137-room, six-storey hotel with retail space underneath.
In order to save space in the tight block, CHARD Development will be installing a two-car elevator to access the 36 underground spaces, a first in the downtown area.
While details haven’t been released on what the hotel will be called, CHARD said it has secured a contract with an international hotel chain.
“This lifestyle hotel will be operated by a well‐known and well‐respected international flag chosen specifically for their commitment to procuring locally‐sourced products in all aspect of the hotel operation,” wrote founder David Chard in a recent letter to the city.
READ MORE: University of Victoria scraps student housing plan, opts for hotel instead
The building will incorporate the rehabilitation of the historic Duck’s Building, which was built in 1892, as well as the rubble of a stone wall which was originally part of the Duck’s Carriage Factory.
Other features for the building will include a bee habitat and landscaped roof.
The University of Victoria owns the property and had originally proposed to transform the area into a 59-unit at-market rental property, with priority given to graduate students from UVic. In May, however, UVic announced a change in plans to instead transform the area into a hotel.
| A digital rendering shows what the new development at 1314 Broad St. will look like. (File contributed/CHARD Development) |
“Since the first proposal we’ve heard a lot of things that we could do better,” Peter Kuran, CEO and president of UVic properties told Black Press Media in May. “Among other things, the question came up if we really had to sell the land; were there other options?”
ALSO READ: Longtime downtown Victoria restaurant gets renovicted
By way of a 99-year lease, UVic will continue to see profits from the site.
CHARD suggested the hotel installation will add $5.9 million to the economy, as well as 40 direct jobs. It outlined almost $2 million per year will be generated in taxes, including $900,000 in municipal taxes.
Eight residential tenants are currently at the property and will be given a five-months’ notice of eviction and a minimum four months’ rent compensation, as well as moving and relocation assistance.
Shovels are set to hit the ground in 2021.
Send a Tweet: @NicoleCrescenzi
Like us on Facebook Â
