UVic Properties, Chard Development propose new project for Broad Street

UVic Properties is partnering with Chard Development Ltd. on a new proposal for UVic’s Broad Street properties that would contribute to the vibrancy of downtown while providing ongoing revenue to support the university’s overall educational mission.

UVic Properties would retain ownership of the land under a long-term lease agreement with Chard, which is proposing a hotel development that incorporates the heritage of the historic Duck’s Building as a central feature. The proposal follows an earlier proposal in 2017 for condominiums and rental housing which was reevaluated and altered as a result of community feedback.

“Since the last proposal, we have talked with various groups and individuals and worked with Chard Development to consider a suitable and financially beneficial plan that also respects the legacy of Michael Williams,” said Peter Kuran, CEO and president of UVic Properties, a separate legal entity that manages the university’s non-academic properties.

The properties in the 1300-block of Broad Street are part of the late Michael Williams’ bequest to UVic to provide the university with ongoing financial returns to support academic programming, student services and supports. Williams was widely respected as a businessman, heritage conservationist and developer, as well as a supporter of cultural and community organizations.

The properties comprise:

• 1306 Broad St., a one-storey commercial building
• 1312 Broad St., a parking lot
• 1314 Broad St., the three-storey Duck’s Building
• 1324 Broad St. and 615-625 Johnston Street, a two-storey commercial annex building

Chard’s proposal for a hotel responds to a need for increased accommodation in the downtown core and would facilitate increased economic growth in the region, including tourism revenue, new construction and hospitality positions. UVic would retain ownership of the land and receive annual revenue as part of a 99-year leaseholder arrangement.

The project is in its early stages. Chard’s first public meeting on the proposal was at the City of Victoria’s Community Association Land Use Committee on May 14. Feedback from that meeting as well as from other stakeholders will be considered before a rezoning and development permit application is submitted to the City of Victoria that will address land use, density, design and neighbourhood character.

The proposed rehabilitation of the Duck’s Building, built in 1892, retains the building’s exterior walls, and the hotel use provides an opportunity to highlight the heritage character of the property.

UVic Properties is mindful of the current tenants who were first notified in 2016 that the properties would be redeveloped and will provide updates as consultations and the rezoning process continue. UVic properties will also offer support in keeping with the City of Victoria’s Tenant Assistance Policy.