Victoria real estate activity picks up as restrictions ease


Spring Market Reports

Victoria real estate activity picks up as restrictions easeJune 1, 2020 A total of 457 properties sold in the Victoria Real Estate Board region this May, 46.1 per cent fewer than the 848 properties sold in May 2019 but 59.2 per cent more than the previous month of April 2020. Sales of condominiums were down 55.7 per cent from May 2019 with 108 units sold. Sales of single family homes were down 42.9 per cent from May 2019 with 254 sold.  Continue Reading...


Capital Iron building sold in 7-acre Victoria land deal


 

The company behind the redevelopment of Victoria's Janion building is buying up nearly seven acres of downtown Victoria property, including the historic Capital Iron building.In a deal set to close in August, Reliance Properties will acquire a vast swath of waterfront land stretching along Victoria's Upper Harbour to Government Street, including the large parking lot and adjacent commercial buildings anchored by Capital Iron.But Reliance CEO Jon Stovell says not to worry, the beloved local hardware shop isn't going anywhere soon."As far as we know, they're staying for the long term and will continue to be here," Stovell told CTV News on Friday.While the developer declined to say what the company will ultimately pay for the 6.7 acres of prime downtown development land, he estimated the long-term redevelopment of the property to be worth roughly half a billion dollars.