Victoria Fire Hall
132 Queens Quay East, Toronto, Ontario
Type: New construction
Size: 41,700 sf fire station, 98,543 sf affordable housing. TOTAL: 162,736 sf
Project Cost: $33.7 million
Development Partners:
- City of Victoria
- Dalmation Developments
- Pacifica Housing
Status: Anticipated completion: 2023
Description
The Victoria Fire Hall is a 12-storey tower houses a new Fire Hall and Emergency Rescue Facility (known collectively as the Emergency Operations Centre) underneath 130 units of affordable housing. It is part of a larger master-planned community in the downtown core, which will contain three additional mixed-use towers (at 14, 15, and 17 storeys). The remainder of the development comprises of market housing, commercial retail, and office space uses.
Land
Additional land was not required by the City. Instead, the City purchased the freehold title to the Fire Station ASP. The current fire station at 1234 Yates Street will be decommissioned when the new Emergency Operations Centre opens, but will remain as municipally owned land. The overall master-planned development site comprises nine lots.
User Interaction/Partnership Framework
In 2018, Dalmatian Developments entered into the City’s first partnership with a private developer to build the Emergency Operations Centre and affordable housing component of the project. The new fire station is being built on privately-owned land in close proximity to the existing fire hall. Under the Purchase and Sale Agreement, the City was guaranteed a maximum price of $33.7M to purchase the two floors housing the Emergency Operations Centre, interior furnishings, permits and development costs, and the multi-use space shared with BC Emergency Health Services (BCEHS). In return, the nine parcels comprising the entire block were upzoned to allow for greater densities for the overall development.
Costs / Funding
While the Purchase and Sale Agreement guaranteed the City a maximum price of $33.7M, additional costs for off-site servicing, sidewalk improvements, equipment, and project management brought the final cost up to $35.9M. The City’s contributions are funded through the City’s Debt Reduction Reserve, which functions as an internal loan fund. As a result, no tax increase was needed for repayment nor were additional grants required from senior levels of government.
To cover construction costs for affordable housing, Dalmatian Developments and Pacifica Housing were able to secure $19M from the Building BC Community Housing Fund along with annual operating funding.
Questions?
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