A 97-stall park-and-ride site in Colwood could be home to the region’s next arts centre, if the Juan de Fuca Performing Arts Centre Society has its way.
The Colwood-based charitable organization jumped through the first of several hoops Monday. It convinced Colwood’s Economic Prosperity Committee to recommend council have staff work with the society to set terms for a long-term lease of the site on the Old Island Highway.
The 1.82-acre triangular parcel of land bordered by Ocean Boulevard, the Island Highway and the Galloping Goose Trail, is being reimagined by the society as home to a 350-seat performing arts theatre, hotel, office space, residences, parking and a restored wetland.
Judith Cullington, president of the Juan de Fuca Performing Arts Centre Society, called it a signature development at the gateway to Colwood.
She said the project fits within the Official Community Plan and would generate economic opportunity for the region, instead of the land costing Colwood an estimated $60,000 annually to maintain.
The society is pitching the city on the idea of handing over the land with a 99-year lease. In return, an entity related to the society would sell the space to developers to build the project, based on a master plan developed by the city and the society.
The society would also retain ownership of certain commercial entities in the project, and the rent from those would be used to offset operating costs of the arts centre.
According to an appraisal from Colliers International, presented Monday to the committee, the land would be worth about $2.93 million on the open market, but if it was required to retain all 97 parking stalls, it would be worth about $660,000.
Cullington said from a developer’s perspective, the site is underutilized, given its location near a B.C. Transit hub, the Old Island Highway and regional biking and walking trails.
During a half-hour presentation, Cullington pointed out the city would benefit from as much as $200,000 in commercial taxes each year, development fees as well as 250 construction jobs during development and more than 200 jobs in ongoing employment.
She said that it would help create a sense of community in the heart of the city and improve the desirability of living and working in Colwood.
The centre would be a complement to an $87-million project Langford is proposing, which includes the Maritime Museum of B.C., a 1,200-seat performing arts theatre, conference centre and office tower.
Cullington said the two arts centres serve different groups, and there is room for both on the West Shore.
Some committee members have asked that other options and different ownership structures be considered for the site.
Coun. Dean Jantzen asked that staff determine the best use for the land, and pointed out temporary parking would need to be made available for park-and-ride during construction.
Coun. Stewart Parkinson wondered if Colwood should look at whether other municipalities on the West Shore want to be involved.
