A plan to convert the current Harbour Towers Hotel and Suites in James Bay into more than 200 rental units received unanimous approval from Victoria City Council on Thursday night.
The building at 345 Quebec Street will undergo extensive renovations to create a 219-unit apartment complex.
The 13-storey building will feature studio, 1-bedroom and 2-bedroom units.
The owners say it will add much needed rentals in a market where the vacancy rate sits at 0.5%
But some who spoke out against the project pointed out it doesn’t include any so-called below market or more affordable rentals.
One current hotel employee also said it will mean the loss of dozens of jobs and much needed hotel rooms and conference space in the city.
As part of the approval, all units must remain rentals for at least 20 years.