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Press Releases : A Landmark Development for Colwood

Omicron Development Inc. and Lotus Capital Corp. (the Developer), have filed applications with the City of Colwood to revitalize a portion of the former gravel pit at the intersection of Veterans Memorial Parkway and Allandale Road to create a purpose-built mixed-use centre comprising industrial and commercial uses to bring new employment opportunities and community services to the community of Colwood.

Located on both sides of Veterans Memorial Parkway and Allandale Road, and bordered by Sooke Road, Allandale District represents a 20-acre parcel of land identified as an “intended growth area” in the City of Colwood’s 2018 Official Community Plan (OCP). The property features four distinct development parcels and proposes new businesses and service amenities for this fast-growing business and family-friendly community.

Applications for rezoning have been made with the City of Colwood on two of the four parcels (Lot B and Lot C) to conform to the City of Colwood’s intentions for the new Mixed-Use Employment Center designation as identified in the OCP. The Mixed-Use Employment Centre designation allows for the following uses:

  • Multi-unit residential and mixed-use
  • Commercial
  • Institutional
  • Live/work and home occupations
  • Light Industrial
  • Ground-oriented low-rise buildings up to approximately six storeys

Lot A:

The Developer is finalizing a Development Permit application to be submitted to the City of Colwood in late summer / fall of 2020. This application will comprise of three buildings (approx. 81,000 sq.ft. total) of light industrial use. A projected construction start date is the beginning of 2021.

Lot B:

Lot B is owned by Sherringham Holdings and responds to the demand identified in the area for local access to conveniently located, modern storage units and proposes other commercial retail uses including medical and dental professional services, a liquor outlet and drive-through restaurant.

Lot C:

Lot C is jointly owned by the Developer. Colliers International is currently undertaking market research on their behalf and recommend in-demand land uses for consideration. The Developer is pursuing Conformance Rezoning for Lot C to rezone to uses that conform to the 2018 OCP. This includes:

  • Mixed-use
  • Commercial
  • Institutional
  • Live/work and home occupations
  • Light Industrial
  • Ground-oriented low-rise buildings up to approximately six storeys

Omicron initiated engagement with the local community on February 26, 2020 at the Juan de Fuca Rec Centre (Lower Clubhouse) prior to the onset of the provincial government’s emergency health measures resulting from COVID-19. This initial Open House commenced communications with local residents – to invite questions and gather feedback in advance of formally submitting the application to rezone two parcels of land (Lots B and C). Feedback from this public outreach was considered and incorporated in both rezoning applications.

Allandale District will be considered by the City of Colwood Council on August 24, 2020 at a Committee of the Whole meeting. Please see City of Colwood website for further information.

Lot 3:

Lot C has been purchased by an automotive group and a Development Permit application has been submitted for a new car dealership. A Development Permit application has been submitted to the City of Colwood for Lot 3, and is in progress for Lot A. As the proposed uses are compliant with the existing M2 Zone, no land use changes or variances are required.

For more information please contact:

Omicron Development Inc.
Peter Laughlin
Director, Vancouver Island
250 419 4701
[email protected]

Background of Allandale District:

Omicron Development Inc., the developers of Eagle Creek Village, a mixed-use commercial, retail and residential development in View Royal, along with their partners, Lotus Capital Corp., entered into a purchase agreement with Ridley Bros. Development Co. Ltd. in the fall of 2019 for approximately 20 acres in Colwood known as the Allandale lands. Now named Allandale District, the majority of land is currently zoned M2 and, under the City of Colwood’s 2018 OCP, is designated Mixed-Use Employment.

About the Developer:

Omicron Development Inc. Omicron is one of the largest integrated development, design and construction firms in Western Canada. With offices in Victoria and Vancouver, the company fields a team of 135 in-house real estate strategists, engineers, designers, architects, and builders who work together to deliver projects. Current Vancouver Island projects include the Marriott Hotel in Nanaimo, The James at Harbour Towers in James Bay, and the mixed-use Eagle Creek Village in View Royal. www.omicronaec.com

Lotus Capital Corp. Lotus Capital Corp. is a real estate investment, asset and development management firm headquartered in Vancouver, BC. Lotus Capital Corp. is an active, value-add investor in industrial, multi-residential and office real estate assets, as well as in venture capital opportunities, across Canada. www.lotuscapitalcorp.com