The City of Colwood adopted a new Official Community Plan (OCP) in 2018, which created Mixed-Use Employment, a new land use designation in several areas of Colwood, the largest of which are the Allandale Lands. The site is roughly the same size as the newly completed Belmont Market in Langford.
This is an essential development for industrial real estate on south Vancouver Island. The lack of industrial zoned land coupled with the reality that existing industrial properties are operating at capacity means there has been a years long backlog of pent up demand for industrial product.
Omicron Development Inc. (Omicron), and their partner, Lotus Capital Corp. (Lotus Capital) will bring forward a new rezoning application this year for the 20-acre mixed-use development for the Allandale property, and have named it Allandale District.
Omicron is one of the largest integrated development, design and construction firms in Western Canada. Current Vancouver Island projects include the Marriott Hotel in Nanaimo, The James at Harbour Towers in James Bay, and the mixed-use Eagle Creek Village development in View Royal.
Lotus Capital is a real estate investment, asset and development management firm headquartered in Vancouver. Lotus Capital is an active, value-add investor in industrial, multi-residential and office real estate assets, as well as in venture capital opportunities, across Canada.
The Lot 3 on the SE corner will begin construction in 2020 for a new automotive dealership development. The 5.88 acre property recently transacted in August 2019 for $9,000,000 or $35/sqft to purchaser Victoria Ford Alliance (Suburban-Glenoak-Jaguar-Mitsubishi)
The next phases will be Lot B and Lot C and is anticipated to bring a mix of light industrial, commercial, institutional, and even live/work buildings. This will bring both employment, housing, and new business to the region. The Developer is hosting an Open House on February 26, 2020 at the Juan de Fuca Rec Centre (Lower Park Clubhouse) in Colwood. View the public engagement document here.
No formal application has been submitted. We will post updates as they become available.
The city is planning to move forward with public realm improvements worth $3.3M. Approvals are anticipated shortly for road improvements including a traffic light at Veterans Memorial Pwy and Allandale Rd – sidewalks, bike lanes, lighting and a central landscaped median on Veterans Memorial Pwy from Sooke Rd through to south extent of developing lands south of Allandale Rd, Allandale Rd (east and west portions) and Wildcat Trail.