Victoria Building Boom

Downtown Victoria Experiencing Building Boom

A new wave of residential and commercial towers is going up in downtown Victoria that is reminiscent of Vancouver’s downtown revival in the early 1990s.

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In a recent Vancouver Sun article profiling downtown Victoria’s building boom, Colliers’ Victoria Managing Director, Dave Ganong, is quoted saying “The level of overall development in the capital region… is on a scale that we’ve never experienced and I’ve lived here since 1983”.  

The article references low downtown office vacancy rates, being on par with those of downtown Vancouver, and street-front retail vacancy rates falling by about half in just two years, combining with an increase in jobs and population to create a dynamic market.

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