Tenants are expected to start moving in this month to one of the smaller builds Victoria has seen in recent years, and while it’s just three residential units and commercial space, the developer behind the downtown project hopes the renovation of the Adelphi building is a positive sign for the core.
Jordan Milne, chief executive of GMC Projects, said the re-imagining and restoration of the historic Adelphi at the corner of Yates and Government streets is both a calling card for his company’s heritage work, and a sign that the core will eventually get back to normal.
Milne pointed out the commercial tenant they have lined up for what had been the Field’s Shoes store right at the corner of the building is plowing ahead with tenant improvements.
“They didn’t have to start now. For them to make that kind of decision, to make that investment at this point and build out shows a significant amount of confidence in the downtown,” he said.
Milne said he has heard the “doom and gloom” and he acknowledged downtown is facing challenges as it deals with the fallout of a pandemic that scuttled supply chains and kept international visitors from our streets.
“But I think when you have unique spaces and unique places within the city people will continue to have optimism and will see how they can live within this new environment,” he said.
The downtown has been hit hard by the pandemic with some businesses choosing to close, others hoping to keep the lights on by expanding to outdoor sales and appealing to locals rather than the thousands of tourists that normally flood the area in summer.
And in that atmosphere the Adelphi is about to open its doors to three new residential tenants, and a new international commercial tenant — no announcement has been made about who is making tenant improvements in the space — while clearing away the detritus of construction from above and around the existing three retailers on the block. They are the Command Post of Militaria at 1306 Government St., Frances Grey clothing at 574 Yates St., and Quesada Burritos and Tacos at 576 Yates St.
GMC Projects bought the Adelphi and its neighbours at 574-576 Yates St. and 1306 Government St. last year
The plan called for completely restoring the three-storey Adelphi and improvements both inside and out of the collected buildings.
There are now three rental suites, one each on the two upper levels of the Adelphi and another on the upper floor of the two-level 1306 Government St. building, which have been gutted and transformed in a marriage of modern and heritage design.
“I’m really pleased at how this building has turned out,” said Milne, noting they have retained the heritage character and in some cases enhanced it. “I think we have created a building that is exemplary as an example of heritage projects downtown.”
The Adelphi, which was designed by architect Thomas Hooper, was completed in 1891. It now has completely renewed and modern infrastructure and its residential units feature forced air heating and cooling, in-floor heating in bathrooms and custom cabinetry.
Milne said each unit is unique, and they come with prices that reflect the custom nature of the work. Two of the units remain available, the 516-square foot studio will rent for $1,800 a month and the 609 square foot studio will go for $2,000.
“There’s a certain quality level that puts them at a unique character and something that doesn’t exist within Victoria at the moment,” Milne said.
Milne said the pandemic delayed bringing the units to market and he would not divulge a final build-out price, other than noting they spent well north of $1 million on restoration alone.
“Any heritage project is a challenge to keep on budget because there are always unknowns,” Milne said. “This was not a money-making project for us, it was a chance for us to breathe new life into a really important building in Victoria’s Old Town.”
He also noted it’s a bit of a calling card for GMC to show the community what it can do.