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Building expected to resume soon at Dockside Green

Apr 20 2012

Vancity is “very very close” to signing a deal with a developer to resume building at Dockside Green.

James Miller, director of strategic business investments for Vancity and also a director of Dockside Green, said Thursday that negotiations are in the final stages.

Miller wouldn’t name the development company, but did say it has an office in Victoria with its main office in Vancouver.

“We are very close to a definitive agreement,” Miller said, after providing Victoria council with Dockside Green’s annual report.

Building on the six-hectare project between Tyee and Harbour roads stopped after Windmill West sold its share of the project to Vancity in 2009. Windmill West was owned by Dockside Green visionary Joe Van Belleghem and Jack Julseth of Three Point Properties. At the time of the sale, Van Belleghem said he favoured a faster pace of development on the $650-million project that has been lauded worldwide for its environmental values. It has a triple bottom line, integrating economic, environmental and social concerns as it builds housing, commercial, light industrial and office space.

The project is about one-third complete.

Miller told council that the new developer would continue with those principles. Several councillors said the affordable housing component of the development seemed to have taken a backseat to high-end townhouses and condominiums.

“We recognize the need for affordable housing,” Miller said. “We will meet with the city in the coming month to get that going as soon as we can.”

kwestad@timescolonist.com

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