Major redevelopment pitched for Victoria’s waterfront [Video]

Some could call the seven acres of land around the Capital Iron building under-utilized waterfront and a bit of a dead zone.

“It’s seven acres of primarily parking,” said Jon Stovell, Reliance Properties chief executive.

Reliance Properties owns the land spanning from the waterfront, through the Capital Iron building and up to Government Street, and is looking to redevelop it.

“It’s interesting, it’s part of the city’s vision called the Arts and Innovation District,” said Stovell.

The estimated $600-million project is ambitious, combining different building uses together to create a dynamic district.

“Fishing, infrastructure, arts and culture, a new art gallery, residential, rental, arts, live-work,” said Stovell.

A rendering of the proposed redevelopment from Reliance PropertiesThe Art Gallery of Greater Victoria has more than 23,000 art objects in its collection and has long outgrown its current location in Victoria’s Rockland neighbourhood.

“Contemporary art has changed a lot,” said Nancy Noble, director and CEO of the Greater Victoria Art …