Plans for the future of the Times Colonist building in Victoria are now public.
B.C.-based Merchant House Capital announced Tuesday that it had purchased the property, located at 2621 Douglas Street.
Merchant released two sketches showing how the newspaper building will be restored and reconfigured to make room for street-level retail and 120,000 square feet of office space.
According to Merchant, the building will be an “urban campus-style mixed-use environment,” and will be reconfigured so an interior atrium bisecting the existing building can be installed.
A roof-top common space, which will include a restaurant/café will also be installed.
The investment firm said the printing building would be changed into an urban entertainment space with distillery/brewery manufacturing zoning. The project would also add up to 150,000 square feet of purpose-built rentals to be integrated into the existing building.
“The Times Colonist Building represents such a unique cultural landmark for Victoria,” David Fullbrook, CEO of Merchant House Capital, said in a statement. “Not only does the building embody the living history of Victoria and Vancouver Island, its preservation and reuse signals the emergence of the new Midtown urban village. We are excited to be a small part of the vibrant Victoria landscape.”
There is no word yet on what this means for the future of the Times Colonist and its staff.