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.