The new owner of the Royal Bay property is gearing up for a fresh look at how to develop the 419-acre waterfront site in Colwood.
B.C. Investment Management Corp. purchased the property, once a massive gravel operation, from Lehigh Heidelberg Ltd., earlier this year.
GWL Realty Advisors, on behalf of the provincial agency, issued a request for qualifications for master planning and design services to map out the long-term development of the land. Responses must be submitted by Jan. 14.
Royal Bay is one of the largest contiguous tracts of undeveloped residential land in Greater Victoria.
Colwood council voted in favour of a mixed-used development plan in 1998 that allows for up to 2,800 homes, schools, commercial uses, parks, a village centre and community facilities, to be rolled out in phases. The mixed-use concept remains.
“The predominant land uses will include single-family and multi-family homes with some supportive, village-oriented retail and commercial uses, as well as recreational features such as waterfront parks and trails,” the RFQ states. “The task is to bring new ideas and vision to improve and evolve a previously created master plan.”
Gwen-Ann Chittenden, manager of corporate initiatives at B.C. Investment Management Corp., said Thursday the previous master plan was completed “some years ago.”
She said the new advisers will “provide fresh input and new ideas on how to further enhance the value of this community.
“Considering other opportunities, such as the marina, will form part of the process. However, we have not considered any specifics or had discussions with any party,” she said.
The corporation is one of Canada's largest institutional fund managers, handling $91 billion on behalf of 475,000 public employees.
A high school is slated to be completed at Royal Bay by 2015 and will be one of two new schools on the WestShore to replace Belmont Secondary. The other is at Glen Lake.
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