Fresh off of the restoration of the historic Victoria Press Building, Merchant House Capital has initiated the first steps in its next project, right next door. realestate realestatenews developments Victoria
Fresh off of the restoration of the historic Victoria Press Building, Victoria-based developerAhead of submitting a rezoning application, Merchant House has filed its pre-application with the City, proposing a 12-storey rental building with 160 units, which the developer says will add much needed rental housing to an area that multiple studies have identified as in need of it.
Merchant House cites several reasons for this. The first is the subject site’s aforementioned access to transit, pointing out that the building would have access to 20 transit routes via six bus stops within a three-minute walking radius, even before the upcomingAll Ages and Abilities Cycling Network
, the developers are considering the option of providing transit passes to tenants in order to support a “car-free lifestyle,” and research the developers point to indicates that vehicle ownership among renters is 1.5 times lower compared to condominium owners. The developers also point to five other multi-family projects across Canada that included no off-street parking as precedent that it’s a viable option.
Alluding to the concept of the “15-minute city,” Merchant House says that “multi-modal transportation choices are achieved by the location of the residences, and augmented by ample bike end-of-trip facilities, car-share programs, on-site business and workspace, as well as social and cultural amenities.”The Victoria Press Building.
Merchant House says the apartment building is “the final step in realizing a comprehensive vision.” That vision began with the renovation of the
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