A $100 million 20-acre progression plan for what has been the Allandale District in Colwood is being jointly developed through Omicron Development Inc. and Lotus Capital Corp. Vancouver.
Around 353,000 feet of buildings are being considered Thursday, Peter Laughlin, Omicron’s director of progression on Vancouver Island.
The proposal covers 4 progression plots. Omicron and Lotus will own two and Omicron will be for the progression of the other two.
Applications for the zoning of employment centers were filed on two of the plots to attract business, load facilities and create local jobs, which would help solve local transportation problems, Laughlin said. The West Bank is known for its peak hours of low traffic.
“One of the things we were looking for, and we knew it far beyond: there was a need for commercial land. The island is growing. We have an incredibly strong economy here. The economy wants support. So we’ve been looking for commercial land for some time,” Laughlin said.
Allandale is on both sides of Veterans Memorial Parkway and along Allandale Road.
Colwood Mayor Rob Martin said the network had called for smoother commercial development.
These uses will expand the tax base, he said, adding that as a dormitory community, Colwood relied on residential taxpayers to cover the maximum of the municipality’s bills.
Having tax gains from uses is “huge for us,” Martin said.
Colwood is passionate about adding new, well-paying jobs, done through other people living in the community, Martin said.
“To some extent, it’s also starting to deal with transportation issues. One of our answers to this challenge is that we want to start creating more jobs here on the West Bank.”
It welcomes the projects that will rebuild the abandoned industrial areas existing in Colwood, as in this case.
Half the land is in an old gravel pit and the rest on a rocky cliff, Laughlin said.
Rocks were thrown off the cliff to create flat spaces for development. More than 200,000 cubic meters of blown rock have been moved to embankments in the old gravel well, making the entire domain usable, Laughlin said. “A lot that was seven-eight-nine meters below the point of the road is now at the point of the road and is usable. This is a smart example of the development of abandoned industrial zones.”
Ridley Bros. own the 4 plots, Laughlin said.
Zoning programs were introduced for two lots, one west of The Parkway (lot B) and one east (lot C) and north of Allandale Road, to pave the way for mixed-use employment centers. Nominations are expected to be on the city’s calendar on August 24.
Omicron and Lotus Capital will own the south and maximum lot west, Lot A, as Lot C, north of Allandale and east of the boardwalk.
Lot A already allows a variety of commercial uses. Colliers International conducts a market study on the use of lot C.
Lot B, west of the boardwalk, will be owned by local company Sherringham Holdings Ltd.
“The existing plan is about 100,000 feet of progression on this site,” Laughlin said. Of this amount, approximately 60,000 feet will be built as mini-storage, of which 40,000 will be used for retail.
“The innovation Sherringham brings to the mini storage market is that it’s a multi-story mini storage,” Laughlin said.
Plans come with a four-story building, served through commercial elevators.
The fourth plot, Lot 3, east of the boardwalk and south of Allandale, will be developed on behalf of Carson Auto Group for a new Ford dealership, Laughlin said.