URBAN CORE MEDIA RELEASE
July 14, 2016
COOK STREET PROPOSAL HEADED FOR PUBLIC HEARING
Victoria – Urban Core Ventures is pleased its Cook Street Village proposal will be sent to the City of Victoria’s Public Hearing process. The project was first conceived in 2014 and since then has undergone a series of substantial changes to reflect public feedback.
The current proposal includes 53 homes and six commercial tenants, 74 bike stalls, a bike repair room, six scooter stalls and charging stations. Of the 53 homes, 18 will be designated rental units. Nine of the rental units will be priced at 10% below market rates for twenty years.
Leonard Cole, President Urban Core Ventures
“We would like thank our hundreds of supporters who attended meetings and wrote letters on behalf of our proposal.”
“Urban Core Ventures is committed to a strong and thriving Cook Street Village and we believe our proposed residential/commercial building will be a much-needed addition in this unique neighbourhood.”
The facts about the Cook Street proposal:
- Building size – 47, 580 square feet (reduced 26% from original proposal)
- Building height – 22.9 metres/75 feet (reduced 24% from original proposal)
- Rentals – 18 units (no rentals in original proposal)
- Residential parking 0.9 stalls per suite (up 10% from original proposal)
- Economic impact – $25,000,000 building and $200,000+ annual property tax increase for City
- Green standard build and solar-ready
- Trees and plants – All trees on Cook Street will be preserved. One walnut tree on Oliphant that is determined to be in poor health will be removed and replaced. Any other trees impacted by the proposal, would be replaced.
In the lead up to the Public Hearing process, Urban Core will look forward hearing from residents of Victoria. If you would like to see 53 new residences including 18 rentals, six new businesses and dynamic new contribution to the Cook Street Village, please check out www.cookstvillage.com or email len@urbancoreventures.com
Leonard Cole
President, Urban Core Ventures