Silkwind property listed for sale

  • Feb. 1, 2011 10:00 a.m.

The Silkwind property, zoned to become one of the tallest high-rise developments on Vancouver Island, has been put up for sale.

The 0.55-hectare residential property at 2708 Wale Rd. is listed for $10.3 million by Cushman & Wakefield, an international real estate firm with an office in Vancouver.

The $44-million, 23-storey glass and steel convex tower that was approved for the site would have offered 173 residential units, but the development was stalled after the foundation was excavated in 2007.

For three years the property went untouched until the City of Colwood gained permission to send a contractor onto the site to stabilize the south-slope of the excavation pit and move fencing around the property off public land in December.

Contractors returned to the site this month to stabilize the west-slope next to a townhouse complex where stress fractures had developed.

Rocks excavated from a nearby development in Langford were stacked in layers to create a four-metre thick wall up the side of the slope.

City engineer Michael Baxter said the slopes will continue to be monitored to ensure public safety.

The two remediation projects cost around $200,000, which the City tacked onto the owner’s property tax. Baxter said if the land changes hands the City will still be reimbursed for the work.

“We’d get our money as part of the sale,” he explained, noting that the Edmonton-based owner, identified as 1210609 Alberta Ltd., still has outstanding property taxes from 2009 and 2010, which would also be settled as part of the sale.

Colwood Mayor Dave Saunders said he was pleased to see the land go on the market.

“It’s always been the City’s desire to see that property developed,” he said. “There’s a lot that could be done with that location, whether a new owner goes ahead with the current building design or re-zones it for something different.”

news@goldstreamgazette.com

Just Posted

HMCS Corner Brook returned to Victoria’s waters for the first time since 2015 on June 10. (Courtesy of the Royal Canadian Navy)
WATCH: Navy surveillance submarine returning to Victoria waters

HMCS Corner Brook one of first submarines to receive new communications systems

A new multi-family residential project at the corner of Hillside Avenue and Cook Street will feature nine below market-priced units aimed at middle-income, first-time homebuyers, through a partnership between BC Housing and the developer. (Courtesy City of Victoria)
Middle-income first time homebuyers gain access to nine homes in Victoria

BC Housing partners with development community to create affordable purchases

The District of Saanich has pinpointed funding requests to Oak Bay and Victoria to help offset the purchase price of the Kings Park greenspace and keep the property intact. (Courtesy District of Saanich)
Saanich requests funding help from neighbours to preserve Kings Road green space

District hopes Victoria and Oak Bay will join them in protecting urban green space

Thriving Toots Wilderness School is trying to buy a 98-acre plot of undeveloped land from the Boys and Girls’ Club of Greater Victoria in Metchosin. (Contributed/Thriving Roots)
Hopeful buyers of Boys and Girls’ Club land in Metchosin would keep it wild

Nature-based school, partners trying to secure financing to buy 98-acre property: school director

(Black Press Media file photo)
COVID-19 exposure closes Oak Bay pub, restaurant

Penny Farthing, Vis-a-Vis expected to reopen Wednesday after deep clean

Canadian Prime Minister Justin Trudeau participates in a plenary session at the G7 Summit in Carbis Bay, England on Friday June 11, 2021. THE CANADIAN PRESS/Adrian Wyld
Canada donating 13M surplus COVID-19 vaccine doses to poor countries

Trudeau says the government will pay for 87 million shots to be distributed to poor countries

Highway notices like this come down effective June 14. Public health restrictions on non-essential travel and commercial operation have hit local businesses in every corner of B.C. (B.C. government)
Province-wide travel back on in B.C.’s COVID-19 restart plan

Gathering changes include up to 50 people for outdoor events

Calgary Stampeders’ Jerome Messam leaps over a tackle during second half CFL western semifinal football action in Calgary, Sunday, Nov. 15, 2015.THE CANADIAN PRESS/Jeff McIntosh
CFL football will be played this summer in Canada

Governors vote unanimously in favour to start the ‘21 campaign on Aug. 5

Citizenship Minister Marco Mendicino holds a press conference in Ottawa on Thursday, Nov. 12, 2020. The federal government is announcing that Indigenous people can now apply to reclaim their names on passports and other government documents. THE CANADIAN PRESS/Sean Kilpatrick
Indigenous people can now reclaim traditional names on their passports and other ID

Announcement applies to all individuals of First Nations, Inuit and Métis background

Harvesting hay in the Fraser Valley. (Tom Fletcher/Black Press)
COVID-19: B.C. waives farm income requirement for a second year

Property owners don’t need minimum income for 2022 taxes

Cruise ship passengers arrive at Juneau, Alaska in 2018. Cruise lines have begun booking passengers for trips from Seattle to Alaska as early as this July, bypassing B.C. ports that are not allowed to have visitors until March 2022 under a Canadian COVID-19 restrictions. (Michael Penn/Juneau Empire)
B.C. doesn’t depend on U.S. law to attract cruise ships, Horgan says

Provinces to get update next week on Canada’s border closure

This undated photo provided by Girl Scouts of New Mexico Trails shows a scout donating cookies to firefighters in Rio Rancho, New Mexico, as part of the Hometown Heroes program. As the coronavirus pandemic wore into the spring selling season, many Girl Scout troops nixed their traditional cookie booths for safety reasons. That resulted in millions of boxes of unsold cookies. (Girl Scouts of New Mexico Trails via AP)
Thinner Mints: Girl Scouts have millions of unsold cookies

Since majority of cookies are sold in-person, pandemic made the shortfall expected

In this artist’s sketch, Nathaniel Veltman makes a video court appearance in London, Ont., on June 10, 2021 as Justice of the Peace Robert Seneshen (top left) and lawyer Alayna Jay look on. THE CANADIAN PRESS/Alexandra Newbould
Terror charges laid against London attack suspect

Crown says Nathaniel Veltman’s four counts of first-degree murder constitute an act of terrorism

Premier John Horgan speaks as provincial health officer Dr. Bonnie Henry, right, and health minister Adrian Dix look on during a press conference to update on the province's fall pandemic preparedness plan during a press conference from the press theatre at Legislature in Victoria, Wednesday, Sept. 9, 2020. THE CANADIAN PRESS/Chad Hipolito
B.C. officials to provide details on Step 2 of COVID reopening plan Monday

Step 2 could allow for larger gatherings and a resumption of recreational travel

Most Read