$35M Sidney project ready for takeoff
Work could start in spring on 10-building centre after airport authority gives the green light
The developer behind the proposed $35-million Sidney Crossing project should have a permit in the next few months with groundbreaking expected next spring.
The Victoria Airport Authority, which ultimately will approve the commercial project, essentially gave developer Omicron the green light this week when it handed the proposal over to Sidney for review and comment, according to James Bogusz, vice-president of operations for the airport authority.
“There are still additional steps required once Sidney has provided its comments, but the VAA would anticipate issuing a development permit in the next few months,” Bogusz said.
“The VAA has been in full support of this development since the Town of Sidney rezoned and approved the project September 2016. The review Sidney is doing is adherence to development requirements, not a discussion on ‘do we want it or not.’ That already occurred a year ago and the decision was made to proceed.”
That would mean work could start at the site — 10 acres located on airport land at Patricia Bay Highway and Beacon Avenue — in March or April of next year, according to Omicron vicepresident Peter Loughlin.
He anticipates it would be complete with the first tenants moving in by the fall of 2019.
Sidney, which in the fall of 2016 voted to rezone the land, will now have 40 days to review the proposal and offer any further comments.
That period will allow Sidney to determine if there is to be any impact on municipal infrastructure, provide comment on the compatibility of the development with the community and offer other suggestions.
“It’s a fairly significant step, because the VAA takes their role very seriously and they have an agreement with the Town of Sidney for review and comment,” Loughlin said. “We hope the Town of Sidney will be as happy as the VAA are.
“We are looking forward to breaking ground in the spring and we are extremely excited about this.”
The 100,000-square-foot centre will include 10 buildings, with plans for anchor grocery and major appliance and electronics stores. Omicron has proposed a mix of retailers on site, including health and wellness programs, child care, a pharmacy, restaurants and medical services.
There will also be a $3-million pedestrian overpass crossing the highway on the north side of Beacon Avenue, a new roundabout at Beacon Avenue and Galaran Road and other traffic improvements in the area.
Loughlin said they have some tenants in place, subject to approvals. Omicron will start its full marketing and leasing campaign when it gets the development permit from the airport authority.
The developer already has approvals from the Ministry of Transportation, while Nav Canada has reviewed the project and found no concerns.
Before Sidney approved rezoning for the project, there had been concerns raised by retailers and Sidney residents that the development would hurt the business core of the town and have a negative impact on its charm.
An Urbanics Consultants impact analysis, however, suggested most retail categories would be unaffected by the project, while others would see only a slight decline in sales.
The analysis, released in the spring of 2016, also suggested the area would see a significant economic impact from the addition of Sidney Crossing.
The project is expected to generate 157 jobs during construction, and more than 220 jobs annually when complete. The total expected annual tax revenue increase is estimated to be about $737,000.
According to Urbanics’ number crunching, the value of the project’s total impact will be in excess of $70 million over its lifespan, including short- and long-term employment and increased tax revenue.