Essencia could break ground fall 2010
Pendray House mansion is slated to be part of the Essencia Village project in Colwood, which is being cautiously eyed for groundbreaking in about one year.
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Updated: November 19, 2009 12:37 PM
Work to transform property along Esquimalt Lagoon into Essencia Village could begin next fall.
Council is set to consider final reading on necessary official community plan and zoning amendments Nov. 23. Calgary-based developers UnaVera have already started working on the project's financial plan to try and gauge where the market is headed post recession, said project manager Shawn Ripley. When the project will actually break ground is entirely dependent on the market, he added.
"We would like to certainly see that happen within 2010," he said. "There is a good chance we would be looking at the fall."
UnaVera Resorts is planning to redevelop the property at 3221 Heatherbell Rd. into a hub of commercial and residential activity. Six buildings, ranging in height from four to 15 storeys, will house residential and hotel units. Anticipated business tenants include a grocery store, brew pub, office space and hotel. The existing Pendray House will continue to house a community art gallery, as well as a potential restaurant.
Roughly 40 per cent of the property will remain open to the public as green space.
"We have a pretty good feeling for where the market appears to be going," Ripley said. "I would see something in the hotel component (going forward first.)"
For more information on Essencia, go to www.essenciavillage.ca.
reporter@goldstreamgazette.com
