Question 1

Who is the developer?

Accepted Answer

The project is being led by GWL Realty Advisors, which is wholly owned by Canada Life. We are one of the country’s largest real estate investment and management companies, with experience building and maintaining homes, offices, and retail spaces across Canada. Our goal is to create high-quality, long-lasting rental housing and commercial spaces that support strong, vibrant communities. We are not “here today, gone tomorrow” developers — we invest for the long term, ensuring our buildings are well-managed and continue to serve residents and businesses for decades to come.

Question 2

Why are you redeveloping this property?

Accepted Answer

The Broughton Square Parkade is over 65 years old and requires major repairs to remain safe and functional. Instead of putting money into an aging parkade, we believe there is a much better opportunity: replacing it with new rental homes and retail spaces that will benefit both the neighbourhood and the City of Victoria. Redevelopment allows us to provide more housing choices downtown, bring more customers to local shops, and design a modern, safe, and environmentally responsible building. Our vision is to respect the historic character of Old Town while helping meet the City’s urgent housing needs.

Question 3

When will this happen?

Accepted Answer

We are still at the very beginning of the process. Before anything is built, the project will go through City approvals and several more rounds of community consultation, including a formal CALUC meeting. This means construction is still years away. We want to hear from neighbours, businesses, and other stakeholders as we shape the design. Nothing will happen overnight, and there will be lots of opportunity to stay informed and involved along the way.

Question 4

How long will construction take?

Accepted Answer

We are too early in the process to know exact details, but typically a building of this size would take about 2–3 years to complete once construction begins. During that time, we will work closely with the City and community to minimize disruption and ensure the process is as smooth as possible.

Question 5

Will these be condominiums?

Accepted Answer

No. These will be purpose-built rental apartments, not condos for sale. GWL Realty Advisors builds, owns, and manages rental housing for the long term, which means we will remain a landlord and manager of the property long after construction is complete. This ensures consistency, quality management, and a reliable supply of rental homes in Victoria.

Question 6

Will they be luxury apartments?

Accepted Answer

No. Our focus is on creating mid-market rental homes that meet the needs of a wide range of residents — singles, couples, families, and seniors. The design will offer modern, comfortable, and safe housing options without being “high-end luxury” that only a few can afford.

Question 7

How much will the rents be?

Accepted Answer

Rents will be set closer to the time of completion, based on the local rental market. Because we are several years away from finishing the project, it is too early to know exact numbers. However, our focus is on providing mid-market rental homes, not high-end luxury pricing.

Question 8

Will this project push up housing costs?

Accepted Answer

Adding new housing actually helps take pressure off the rental market. Right now, high rents are caused by high demand and limited supply. By building hundreds of new homes, we are increasing the number and variety of places for people to live downtown. More supply means more options — which benefits everyone.

Question 9

Will there be family-sized units?

Accepted Answer

Yes. The project will include a mix of apartment sizes — from studios to larger 2- and 3-bedroom units. This ensures that families, couples, and individuals all have options. We know Victoria needs housing for all types of households, and family-sized rental homes will be a key part of this project.

Question 10

Are these units for investors or off-shore buyers?

Accepted Answer

No. These homes are 100% rental apartments that will not be for sale. Rentals are typically occupied by local residents, which means the homes created here will be available to people who live and work in Victoria.

Question 11

What happens to the current businesses?

Accepted Answer

Redevelopment is still several years away. In the meantime, we will work closely with current tenants to give them plenty of notice and support in planning for their future. Importantly, the new building will include even more retail space than today, meaning there will be opportunities for returning businesses and new shops to thrive once construction is complete.

Question 12

Will the new building be sustainable?

Accepted Answer

Yes. GWL Realty Advisors is recognized as a leader in sustainable real estate. Our projects are designed to be energy-efficient, low-carbon, and environmentally responsible. We consistently rank highly with the Global Real Estate Sustainability Benchmark, which measures the performance of companies worldwide. For this project, we will use modern building practices and technologies to minimize environmental impact and deliver a building that is healthier for residents and the planet.

Question 13

Why is the building so tall?

Accepted Answer

We are very aware of Old Town’s heritage character, and our design will be guided by City policies to ensure the building fits within its historic context. At the same time, Victoria is experiencing a housing crisis, and downtown is the best place to add new homes — close to jobs, shops, and transit. The building’s height and design will strike a balance between adding much-needed housing and respecting Old Town’s unique character.

Question 14

What about the church next door?

Accepted Answer

Our design includes a large setback and the creation of a new public plaza next to the church. This will give the church more breathing room, highlight its historic beauty, and provide new public space for the community. We are committed to working with the church to minimize construction impacts and ensure the two buildings complement each other.

Question 15

Will it block sunlight?

Accepted Answer

We are conducting detailed shadow studies to understand how the new building might affect sunlight in surrounding areas. Our goal is to design the building so that streets and open spaces continue to receive sunlight during part of the day.

Question 16

Will there be enough parking?

Accepted Answer

Yes. A detailed parking and transportation study is underway to determine the right amount of parking for both residents and retail uses. The site’s central downtown location also means that many residents will be able to walk, bike, or take transit, reducing reliance on cars.

Question 17

What about the loss of the parkade?

Accepted Answer

The removal of the parkade will mean a shift in how parking is used downtown, but there are other parkades and on-street parking options nearby. More importantly, this redevelopment will add around 375 new homes, housing up to 700 residents right in the heart of the city. These new residents will shop, eat, and spend money locally, supporting downtown businesses and helping the area thrive.

RENTALS ON BROUGHTON

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