Backgrounder: Broad Street properties

Ownership 

The Broad Street properties are owned by the University of Victoria (UVic) and managed through University of Victoria Properties Investments Inc. (UVic Properties), which oversees a variety of non-academic real estate holdings in the Capital region, including management of the Vancouver Island Technology Park (VITP) and the Marine Technology Centre. 

The Broad Street properties that are part of this development proposal include:

• 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, the Broad Building (Canada Hotel)

Michael Williams 

Michael Williams was a businessman, developer, heritage conservationist, art collector and philanthropist. He believed in the importance of universities, teaching and research. Williams lovingly revived old buildings in downtown Victoria and his restoration projects were credited with the rebirth of a once run-down part of the city as a lively neighbourhood of restaurants and shops. In 1990, UVic granted him an honourary degree in recognition of his leadership in preserving and renewing Victoria’s Old Town district. When he passed away in 2000, Williams donated most of estate to UVic. His expressed desire was that UVic manage his portfolio of donations in a way that it would provide an ongoing and increasing source of income to support the university’s overall educational mission. 

Chard Development 

• Chard Development is an award-winning developer which has been building residential and mixed-use projects in Victoria since 2003, with seven completed projects, two under construction and two currently being contemplated.
• Chard Development was selected by UVic Properties through a public request for expressions of interest process in 2015.
• Supporting Chard Development on this project are de Hoog & Kierulf Architects, who rehabilitated the New England Hotel in Old Town, as well as renowned heritage consultant Don Luxton.

Development process 

• The Broad Street properties development proposal was unveiled by Chard Development May 14 at a Community Association Land Use Committee (CALUC) meeting hosted by the Downtown Residents’ Association.
• A rezoning application is expected to be filed with the City of Victoria over the coming months.
  

Victoria Tourism 

• According to the tourism industry consulting firm Chemistry Consulting, Greater Victoria has lost 861 hotel rooms over the past 12 years, including more than 400 in just the past five years.