UNIVERSITY HEIGHTS REDEVELOPMENT PAUSED
Wesbild can confirm that we have placed the $230-million University Heights project on pause as we attempt to address an impasse with an existing tenant.
After years of planning, consultations and reaching a broad base of community support, all work on the Saanich project has been paused following a series of requests from existing tenant Home Depot. The U.S. retailer seeks a major expansion and significant financial concessions which affect the viability of the project.
The redevelopment, which would address much-needed community needs such as permanent rental homes, daycare spaces and affordable rental suites, remains uncertain. At this late stage, Wesbild is doing all we can to address Home Depot’s requests and we hope a final round of discussions can resolve the outstanding issues.