Update: Gordon Nelson has now acquired a third property, 941 View Street. Additional information available here.
930 Fort Street, a paved surface parking lot to the east of View Towers has been purchased by Gordon Nelson Group, a prominent rental apartment owner in Vancouver and Victoria. The Vancouver based investor concurrently purchased 937 View Street, a larger sized parking lot on the north side of 930 Fort St.
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Gordon Nelson is now pursuing to branch out into new lines of business by developing strata condominiums that will held and operated as rentals. Developers Dan Robbins and Fraser McColl have submitted a rezoning application to the city of Victoria for a 62 unit strata condominium tower with commercial retail uses at street level. The developer is seeking a CD zone from the existing CA-42 Harris Green Commercial District.
|Civic Address||Lot Size (sqft)||Zone Code||Zone Description||OCP||Transaction History||Registered Owner|
|930 FORT ST Victoria||9020||CA-42||Harris Green Commercial District||Urban Place Designation: Urban Core Residential||$653,964 Nov 2016||1092874 B.C. LTD.|
|937 VIEW ST Victoria||16917||R-48||Harris Green District||Urban Place Designation: Urban Core Residential||$3,371,035 Nov 2016||1092871 B.C. LTD.|
Total land acquisition: $4,024,999
Aggregate Site Size: 25,938 sqft
Price/sqft land: $155
The application being discussed in this post is solely for 930 Fort Street, and has been submitted by Sakura Project Management. Separate plans have been submitted for 937 View Street.
62 Unit Condo Tower at 930 Fort
Proposed FSR: 5.41
Buildable Sqft: 48,798
Price/buildable if granted approval: $13.40
The main level will have two commercial retail units (CRU’s) with a respective size of 671 square feet and 789 square feet. The building will also feature an LED light strip on the exterior adding some colour to the vibrant upper Fort Street.
The limited 32 parking stalls (0.5/unit) will be split among 3 levels.
P2 – 5 parking stalls, P1 – 14 parking stalls, Main – 13 parking stalls
Current zoning requires a parking ratio of 1/residential unit and 1 stall for every 400 sqft of retail space. If city council were to uphold the CA-42 parking requirements, approximately 66 parking stalls would be required for this size of development. However, the developer is asking for parking relaxations, among other relaxations, in proposed CD zone due to the central downtown location, future bikeway system along Fort Street, frequent transit service, and implementation of car-share and 88 secure bicycle parking spaces.
|Unit Type||Avg. size (sqft)||# Units||% of total|
|3 bedroom (penthouse)||1366||2||0.04|
The Harris Green Neighbourhood is Victoria’s smallest neighbourhood in size and population but has seen the 2nd highest growth rate at 44% as well as being the second most dense within the city. The neighbourhood is currently experiencing a building boom with projects such at The Legato, 989 Johnson, 1088 Johnson, 1075 Pandora, The Wade, Black & White, and The Jukebox.
Dan Robbins and Fraser McColl’s application is currently being reviewed by city staff who will provide feedback. It likely major revisions will be made to satisfy the impacts of this proposed 12 storey building before going to Committee of the Whole.