Reliance Properties, along with other landowners, are forging a vision for the area around Capital Iron and Rock Bay. It’s now branded as the Industry, Arts and Innovation District.
In the throes of the pandemic in 2020, Victoria’s then-mayor Lisa Helps had grand hopes for a gritty, industrial piece of downtown Victoria. The area encompasses about 10 square blocks roughly delineated by Government, Store, Herald and Pembroke streets.
Helps’s Victoria 3.0 economic action plan stalled, but did not die. “The area really needs revitalization,” says Victoria Councillor Dave Thompson. “We’re really stoked about the idea of creating a bigger space, with a lot of potential, downtown.”
In May, the city required that one of the leading developers of the area, Reliance Properties, lower the height of the proposed 20-storey towers to 15 or even 12 floors, Thompson says. While not a fan of long, squat blocks, he’s enthusiastic about what’s possible on Reliance’s 6.7 acres.
“We got additional density in exchange for lower buildings,” says Reliance Properties President Jon Stovell. With direction from city staff and council, Stovell says his company will move forward with its own interpretation to reach its vision. “It’s a mash-up, to take all these different land uses and combine them,” he says. Currently, 93,000 square feet of working space exist, where about 70 people are employed. If built to Reliance specs, there will be 10 times the area and 2,100 full-time jobs, he says.
Land uses include light industrial, marine, commercial, residential, live/work, high-tech and cultural. Housing types would include market rentals, affordable rentals, strata and artist live-work spaces, totalling 500 or more units. The Art Gallery of Greater Victoria is looking to open a new space on donated land and Finest at Sea anticipates setting up shop shoreside.
“Arts and creativity are a huge part of our real-estate portfolio,” Stovell says. “We find synergies between development and arts.”
The pledge to add a connection to the Harbour Pathway, affordable housing, heritage building protection, improved public spaces, a plaza and a welcoming streetscape are all improvements that Thompson says will widen opportunities — be they cultural, entertainment or commercial.
As well the Songhees Development Corporation’s Matullia Holdings LP, 7.5 acres of nearby industrially zoned Rock Bay property, will be the site of Rifflandia 2024.
Thompson isn’t sure what the Songhees have planned for their property, but adds the city is waiting for their proposals.
