The Capital Regional District recently wound up the sale of this warehouse building on Viewfield Road, one of two side by side that were purchased in 2013 as possible sites to locate the wastewater treatment project’s biosolids processing facility. Profit made from the sale of the two buildings is roughly $3.7 million, to be distributed back to the participating municipalities. (Don Descoteau/Black Press Media)

Regional district’s Esquimalt land sale means $3.7M back to municipalities

Viewfield Road sites make a profit, seven years after controversial purchase for sewage project

Seven years after making what some observers saw as a questionable land purchase, the Capital Regional District made a tidy $3.7-million profit from the sale of two Esquimalt warehousing properties bought as part of the Core Area Wastewater Treatment Project.

That 16.7 per cent return on investment is coming back to the project’s seven participating municipalities. The CRD’s governance and finance committee on Wednesday, July 29 forwarded to the CRD board a recommendation to use the proceeds of the sales to reduce the amount of borrowing needed for the project.

ALSO READ: Capital Regional District approves land use for sewage biosolids

The finalization of an $11.1-million deal for a property at 836 Viewfield Rd., sold to a “Vancouver based real estate investor,” according to the CRD and successfully completed divesting of the land. This parcel and an adjacent property at 808 Viewfield Rd. – sold in June 2019 for $11.25 million to Spinnaker’s Brewery – were bought for a combined $17 million in 2013 as a potential site for the wastewater biosolids processing facility.

While the purchase price raised eyebrows back then, the eventual profit will no doubt turn some of the frowns to smiles, said committee member and Saanich Coun. Susan Brice.

Breakdown shows how the proceeds of the sale of two Viewfield Road properties by the Capital Regional District will come back to the participating municipalities in the region’s wastewater treatment project. It will be up to local governments to determine how that translates to lower taxes for property owners. (Courtesy Capital Regional District)

“Anybody who’s a taxpayer paying into this project will be quite satisfied that their money is being well spent. This was certainly a nice piece of decision making, to be able to make this final sale and return the proceeds to the taxpayers,” she said.

Brice recalled the controversy surrounding the prospect of locating the biosolids plant in Esquimalt, a relatively short distance from the main wastewater treatment facility at McLoughlin Point. Esquimalt residents and council argued the Township was already carrying its fair share by hosting the treatment plant, she said. Upon weighing the environmental aspects and community impact of using the Viewfield properties for this purpose, a decision was made to pump the biosolids to Hartland Landfill.

ALSO READ: Neighbourhood groups applaud Esquimalt Viewfield biosolids site rejection

After that a goal was established to sell the two properties “only at a time and price that would benefit our taxpayers.”

In the meantime, CRD staff have worked with tenants on improvements to the warehouse properties, to the point where the regional district was ready to relinquish ownership.

Driftwood Brewery is the new main tenant at 836 Viewfield Rd. and plans to shift all of its operations there once renovations are done. Spinnaker’s Brewery, the Mustard Seed Street Church and the Flying Squirrel Trampoline Park operate out of 808 Viewfield Rd.


 

Do you have a story tip? Email:don.descoteau@blackpress.ca. Follow us on Instagram.  
Like us on Facebook and follow us on Twitter.

CRDReal estateWastewater treatment

Get local stories you won't find anywhere else right to your inbox.
Sign up here

 

The Capital Regional District recently wound up the sale of this warehouse building on Viewfield Road, one of two side by side that were purchased in 2013 as possible sites to locate the wastewater treatment project’s biosolids processing facility. Profit made from the sale of the two buildings is roughly $3.7 million, to be distributed back to the participating municipalities. (Don Descoteau/Black Press Media)

Just Posted

Saanich police are warning residents that rutting season has begun and deer may get their antlers tangled in items left in yards. (Saanich Police Department/Twitter)
Deer with items tangled in antlers spotted in Saanich as rutting season begins

Police, B.C. Conservation Service warn of possibly aggressive bucks through fall

Police will be diverting traffic between Island View Road and Amity Drive from 12 to 1 p.m. Oct. 23. (Google Maps)
Section of Pat Bay Highway closes for Mi’kmaq fishing rights demonstration

Police will be diverting traffic Oct. 23 from noon to 1 p.m between Island View Road and Amity Drive

Oulette the Great Horned owl was spotted alive just days after her mate, Ollie, was found dead from suspected rat poisoning on Oct. 17. (Photo by Cheryl Redhead)
Great Horned owl mate found alive in Cuthbert Holmes Park

Oulette spotted in tree above where male Ollie died of suspected poisoning

Saanich firefighters were called out to Hartland Road on Oct. 21 to help transport a mountain biker with neck and back injuries out of the woods. (Black Press Media file photo)
Patient with neck, back injuries rescued from Saanich bike trails

Saanich firefighters called in to help paramedics with transportation off Mount Work

Saanich South Liberal candidate Rishi Sharma commits to addressing issues at the five-way intersection of Interurban and Wilkinson roads in partnership with the municipality if elected. (Black Press Media file photo)
Saanich South Liberal candidate commits to improving Interurban/Wilkinson intersection

‘Confusing five-way intersection,’ needs attention, Rishi Sharma says

Advance polls are open from Oct. 15 to 21 with election day on Oct. 24. (Black Press Media file photo)
Our Home on 8th, the Port Alberni Shelter that opened in March 2019, has 27 extra ‘extreme weather’ spaces for people who need a place to get out of the cold. (SUSAN QUINN/ Alberni Valley News)
BC VOTES 2020: Mid-Island candidate plans occupation of shelter to protest homelessness

Graham Hughes says homeless situation a ‘crisis’ in Port Alberni

Parksville’s Jared Huggan won $75,000 playing BC/49. (BCLC/Photo submitted)
Vancouver Island man $75K richer after purchasing winning lottery ticket at Nanaimo Walmart

Parksville’s Huggan plans to purchase electric bike for partner

Actor Ryan Reynolds surprised a Shuswap family with a special birthday message to their son who was worried he’d be alone on his 9th birthday on Nov. 24. (Tiffanie Trudell/Facebook)
Ryan Reynolds text almost gives away Shuswap boy’s birthday surprise

Deadpool actor helps remind eight-year-old Canoe resident he’s not alone

Environment Canada has issued a snowfall advisory for parts of Vancouver Island for Thursday and Friday.(File photo)
Snowfall expected in parts of Vancouver Island this week

Environment Canada has issued a snowfall advisory for north, east and inland Vancouver Island

More and more electric cars are on the road, but one Chevy Bolt owner was shocked to see how much his BC Hydro bill skyrocketed once he started charging the vehicle. (Black Press file photo)
Lower Mainland man sees significant spike in BC Hydro bill after buying electrical vehicle

An increase should be expected, but Brian Chwiendacz experienced a 200-plus per cent hike

Jordan Jay Ward is wanted on a Canada-wide warrant for two counts of manslaughter. Photo supplied
Wanted man from Calgary may be on Vancouver Island

Jordan Jay Ward is wanted on a Canada-wide warrant for two counts of manslaughter

FILE – A voting package for the 2018 electoral reform referendum. Vote-by-mail packages for the 2020 provincial election will look similar, according to information provided by Elections BC. (Katya Slepian - Black Press Media)
POLL: Have you voted yet?

As election day quickly approaches, hundreds of thousands of British Columbians have… Continue reading

Most Read