The Value of Investing in Canadian Downtowns - International ...

STRATEGY
Is the City Strategically Investing in Its Future?
Approach to Downtown Investments
Downtown Victoria’s key strength is also one of its biggest challenges, in that
the downtown operates as the social, cultural and economic hub of the
Capital Regional District. The City of Victoria has to provide support for the
downtown as well as meet the needs of the residents spanning the 13
surrounding municipalities that utilize the downtown (i.e. provide transit,
infrastructure, policing and services). The small size of the City of Victoria and its limited
resources make it a real challenge to fill this very large role. Consequently, the City has been
limited in the number of major downtown investments it has been able to make in recent years,
yet it has been incrementally investing in enhancing the downtown streets, public spaces and
heritage features; replacing critical infrastructure, such as the Johnston Street Bridge; and
implementing social programs to support those experiencing marginalization or homelessness
in the core. As the downtown population grows the need to leverage additional funds for
revitalization projects will be of importance to ensure the core can thrive in the coming decades.
Collection of Municipal Capital Projects Data
Capital projects data for downtown Victoria was compiled by a staff member from the City of Victoria, who confirmed
the list with the representatives of each City department and with the Downtown Victoria Business Association. This
data should be viewed with some caution, as there could be additional downtown projects that have not been
included.
Summary of Investments
Municipal Investment Year Value Municipal Investment Year Value
McPherson Theatre
2001-
2010
$3,000,000 Spirit Square 2009 $500,000
Save on Food Arena 2005 $28,120,000
Sewer/Drain Work (Government
St)
2011 $10,000
Watermain Work
Sewer/Drain Work (Waddington
2005 $150,000
(Kingston St)
Alley, South of Bastion Square)
2011 $10,000
Watermain Work
Sewer/Drain Work
2008 $275,000
(Burdett Ave)
(Government/Humboldt)
2004 $160,000
Watermain Work
Streetscape Upgrades and
2008 $100,000
(Belleville St)
Paving
$1,200,000
Watermain Work
(Discovery St)
2008 $235,000 Pedestrian Improvements $85,000
Sewer/Drain Work
(Fisgard St)
2008 $50,000 Douglas Street Bike Lane $40,000
Sewer/Drain Work
(Blanshard St)
2010 $25,000 TOTAL ON MAP $33,960,000
Unmapped $600,000
TOTAL $34,560,000
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