The fate of the Roundhouse project was in Victoria city council’s hands Thursday night as a public hearing on the 10-acre multi-use development project raged into the night.
A long line of speakers jammed phone lines and crowded the municipal chamber to weigh in on what could be a transformational project at the western entrance to Victoria’s downtown.By Thursday morning, the city had received 80 video submissions that were to be played during the debate.
The city, which planned to shut down the proceedings by 11 p.m. Thursday night, has set aside time on Monday night to continue the hearing.
A decision appeared to be unlikely on Thursday night.
The Roundhouse project at 251 Esquimalt Rd., 210 Kimta Rd. and 355 Catherine St. has been more than 15 years in the making.
Over the years, the proposal has evolved and been shaped into nine buildings ranging in height from 10 to 32 storeys, renovated and restored heritage buildings, 70,000 square feet of commercial space, and a public amenity package that the developer values at $74.6 million and comprises items requested by council, including an onsite daycare.
The proposal offers 1,870 residential units, 215 of which would be deemed below-market-cost rentals.
The current Victoria council has generally been in favour of the project, with only minor concerns raised over the last several months about density and specific amenities like childcare as the project moved through the approval process.
Mayor Marianne Alto has been an enthusiastic supporter, saying it is likely to be a transformational project and a remarkable opportunity for not just the city but the region.
Ken Mariash, principal of developer Focus Equities, estimates he will never make a dime on the project due to the delays it has faced over the years. The man behind the development estimates his company’s monthly carrying costs each month range between $1 million and $1.5 million.
He still believes the project will be “wonderful for the city because it’ll change the character of the entry and it’ll look like something important.”
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