Plans are now solidifying for the Times Colonist Building in Victoria, B.C., which sold to Merchant House Capital Inc. this year. The private real estate investment equity firm says it will restore and renovate the historic newspaper building into an urban campus-style mixed-use environment, featuring street level retail and 120,000 square feet of large floor-plate office.
“The Times Colonist Building represents such a unique cultural landmark for Victoria,” says Merchant House Capital CEO David Fullbrook. “Not only does the building embody the living history of Victoria and Vancouver Island, its preservation and reuse signals the emergence of the new Midtown urban village. We are excited to be a small part of the vibrant Victoria landscape.”
Situated at the newly approved Humber Green Urban Village, the project provides a total buildable density of 270,000 square feet. The landmark will be reconfigured to make way for the installation of an interior atrium bisecting the existing building, and the installation of a roof-top common space with a restaurant or café.
The Print Reel Building is proposed to be an urban entertainment space with zoning for distillery and brewery manufacturing. The project proposes the addition of up to 150,000 square feet of purpose-built rental, which will be integrated into the existing Times Colonist Building to create a community-driven, work-live-play urban ecosystem.