Mixed-use project at Blanshard and Yates streets will offer ground-floor commercial space and three levels of underground parking
The final curtain will soon be drawn at the Capitol 6 theatre in downtown Victoria after the city gave Jawl Properties the green light to go ahead with plans for a 10-storey office tower at the corner of Blanshard and Yates streets.
“We’re certainly pleased to see the feedback from council and of course it’s always nice to get a unanimous endorsement. We’re very excited about the project design that’s been proposed for the Capitol 6 theatre site and we look forward to bringing it to fruition in due course,” Jawl Properties’ Robert Jawl said in an interview.Jawl noted there are leases in place with tenants in the existing building and they still have to go through the development of detailed designs and working drawings.
“And it’s good that people still want to do that and there are these buildings like this to show us that.” Tristan Spark, vice-president at Colliers International Victoria, said the company’s most recent office report noted Victoria’s overall office vacancy rate increased to 5.9 per cent from 5.7, but it should be seen as steady.
Coun. Jeremy Loveday said while sympathetic to those living in Yellow next door about how close the two buildings will be, he felt Jawl had approached the site thoughtfully.
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