Backgrounder: Broad Street properties

• There are limited on-campus housing resources for undergraduate and graduate students and the redevelopment proposal for the Broad Street properties helps address that shortfall, as on-campus housing is guaranteed only for first-year undergraduate students. UVic has a growing demand for graduate student housing, which has increased with the university’s strategic plan to enhance and increase research activity beyond undergraduate education. In addition to playing a major role in the university’s research accomplishments, graduate students, through their role as teaching assistants, tutors and research mentors, produce a key link between research and graduate education.
• The Broad Street properties, a half-block of commercial holdings on the west side of Broad Street bounded by Yates and Johnson Streets, are part of the real estate assets donated to the University of Victoria by the late entrepreneur Michael Williams, upon his death in 2000. Williams’ wish was for UVic to benefit from long-term financial returns to support its academic mission.
• In June 2015, UVic Properties issued a public Request for Expressions of Interest (RFEOI) for the Broad Street properties after a strategic review of its assets under management. The RFEOI was intended to explore options for the assets that would optimize returns to support the university’s academic mission.

About Chard Development

• Chard Development Ltd. is an urban real estate development firm established in 1994 by founding principal, David Chard. Since its inception, Chard has developed commercial, mixed-use and residential projects across Canada from Victoria to Toronto. By integrating the disciplines of real estate, land and lease negotiations, urban planning, development management and project marketing and sales, Chard takes real estate development projects from initial vision to final completion.
• Beginning in 2003, Chard has focused its attention on downtown Victoria, BC and a series of residential and mixed-use developments. To date, the company has completed six residential and mixed-use projects with almost 500 homes delivered in and around downtown Victoria. The company’s commitment to the City of Victoria continues, with 209 residential rental suites currently under construction and more than 250 homes in the pre-development or municipal approval process.

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