The property assessment for the RidgeView Place apartment building in Langford is being appealed, after the value of the 11-storey building increased despite the fact that it has been vacant since April because of safety issues.
The identity of the person or organization appealing the assessment is confidential, as is the substance of the appeal, Matthew Butterfield, B.C. Assessment’s deputy assessor for Vancouver Island, said Wednesday.
B.C. Assessment does not comment on properties under appeal, he said.
The overall value of the land and buildings at 2770 Claude Rd. slid by 2.6 per cent, to $35.5 million from $36.4 million the previous year.
The land value for the 0.4-hectare site dropped to $2.9 million this year from $4.6 million previously.
But the assessed value of the structure itself climbed to $32.6 million from $31.7 million a year ago, an increase of 2.6 per cent.
RidgeView, previously called Danbrook One, was evacuated in late April of last year because of concerns about the structural integrity of the building.
It was the second time the 90-unit rental building, built in 2018, was emptied. It had previously been evacuated on Dec. 20, 2019, after concerns were raised about engineering work.
Two engineers involved in work on the RidgeView lost their registration with the provincial Engineers and Geoscientists of B.C. and are not allowed to practise engineering in the province.
B.C. Assessment values show an estimate of a property’s market value as of July 1 of last year and its physical condition as of the end of October.
Assessors for the provincial agency take a number of factors into account when estimating the value of a commercial property such as an apartment block, including location, revenue stream, physical condition or redevelopment costs, Butterfield said.
He said lower land values in that part of Langford reflect changes in the area’s Official Community Plan.
Centurion Property Associates Inc. bought the RidgeView property, built by DB Services of Victoria, and said it had made the necessary fixes to the complex after the building was emptied the first time.
Langford re-issued an occupancy permit in April 2022 after an independent engineer’s review, but a year later, the provincial engineering body informed Centurion and the city it had opened an investigation into the engineer responsible for remediation work.
The status and future of the building have not been made public. Centurion could not be immediately reached on Wednesday.
Property owners who have questions about assessed values can contact B.C. Assessment.
Anyone who is unhappy with their assessment can file an appeal and go before an independent review panel between February and March 15 for a determination. If the individual remains concerned, they can go to the property assessment appeal board.
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