Local development partners Fraser McColl and Dan Robbins are planning to spend at least $9 million to buy Sidney’s old fire hall and an adjacent parking lot.
McColl and Robbins are aiming to put up a six-storey building featuring ground-floor commercial space with condominiums above, and one level of underground parking.
Their goal is to create an animated space with a plaza and artwork at the site’s corner that reflects the area’s history, McColl said Wednesday.
A lively grouping of commercial space is envisioned with “really interesting retail,” he said. This could include a brew house similar to a British-style pub, and some “incubator” spaces for small retail businesses.
The developers welcome another nearby proposal to revamp Sidney’s beloved Star Cinema that includes residential units.
“I think Sidney has a real commitment to their downtown and we want to really strengthen that,” McColl said.
McColl and Robbins have already partnered on housing developments in Sidney and in several projects in downtown Victoria.
If all goes smoothly, construction in Sidney would start in spring or summer of next year. The fire hall would be dismantled.
Planning details are still being developed, McColl said.
The development is not intended to need a rezoning.
The properties are already designated for mixed-use commercial and residential.
Sidney put the fire hall and the next-door parking lot up for sale in October to raise money to help fund its new community safety building that will house both fire and ambulance services.
The town announced Wednesday that an agreement in principle had been reached with the developers for the property at 9837 Third St. and 2477 Sidney Ave., and at 9821 Third St.
Under the agreement, the purchase price of $9 million would increase if council approved more square footage, which would still have to fall within the allowed zoning rules, the town said in a statement.
Sidney received strong interest in its offer and went through an extensive tender process as it looked at qualified developers, the statement said.
Mayor Steve Price said: “Council feels we have made a well-researched, balanced choice that will be positive for the community while providing the intended funds required to offset the cost of building the new community safety building.”
The project will deliver new tax revenue to the city and increase the number of residents downtown, Price said.
At least 30 parking stalls will be included for public use.
