A proposal that could add $1.2 billion to the region's economy was announced by the City of Colwood this week.
The plan is to build 2,850 homes in the Royal Beach area, ranging from single family to condos and townhouses. Over the estimated 15 years it will take to complete the project, which will begin this spring, more than 700 jobs will be created.
"Make no mistake, Colwood is on the map and that’s why notable organizations are making long-term commitments here,” Colwood Mayor Rob Martin said in a news release.
The Royal BC Museum is building a new archives and storage centre in Royal Bay, while Seaspan announced plans for an 85,000 square-foot facility in Colwood.
The Chamber applauds efforts to build new homes in Greater Victoria, as a lack of housing supply continues to be one of the biggest challenges in our region. We need enough homes to meet demand, and allow the market to serve middle income residents vital to our workforce.