Omicron Development Inc. (Omicron) and Lotus Capital Corp. (Lotus) announced on Wednesday that they are planning to develop a new facility in Colwood to house Seaspan Victoria Shipyards.
Omicron, a Vancouver-based architecture firm, and Lotus, a Vancouver-based real estate investment company, jointly filed a development permit with the City of Colwood to construct the new complex.
It will be built on a 3.95 acre parcel in the Allandale District, located at Veterans Memorial Parkway and Allandale Road.
Once permits are secured the two companies plan to build 81,500 square feet of office and warehousing space that will house Seaspan Victoria Shipyards operations.
Seaspan Victoria Shipyards provides shipbuilding, conversion, repair, maintenance and other vessel operations, including work for the Canadian Navy and research vessels.
The company is currently spread out across three offices and four warehouses in the Victoria area.
The group says that the new location will consolidate their South Island supply chain operations at a purpose-built facility.
Construction of the facility is expected to create 90 new jobs and cost approximately $26 million.
Colwood Mayor Rob Martin said in a statement that he welcomes the project and is looking forward to further development in the Allandale District.
“With this one proposal, Omicron, Lotus and Victoria Shipyards will bring a $26 million dollar construction investment to Colwood along with nearly 100 construction jobs and significant long-term employment,” said Martin.
“We look forward to it being the first of many announcements for the 20-acre Allandale District which will expand Colwood’s tax base and create jobs for residents close to home.”
Seaspan Victoria Shipyards estimates it will take one and a half years to build.