Victoria’s YMCA-YWCA is looking to take over the space at the Capitol 6 theatre.
The community centre has been at its 851 Broughton St. location for more than 50 years but sold the building to Vancouver-based Concert Real Estate Corporation for $21.9 million in 2018, with an agreement to allow up to seven years to relocate.
Now, the YMCA-YWCA has entered into a non-binding Letter of Intent with Jawl Properties to formally explore the feasibility of co-locating a new Y location to 805 Yates St., presently the home of the Capitol 6 theatre.
In a letter sent out to members by the YMCA-YWCA Vancouver Island CEO Derek Gent, it was explained that this idea is not finalized.
“This detailed review will take place over the next six months and will help inform and refine our mutual development goals,” Gent said. “Assuming both parties are satisfied with the viability of this co-location tenancy, we will be an integral part of a redevelopment application process that Jawl Properties will make to the City of Victoria seeking approval to proceed.”
Victoria’s Y actually used to house the Captiol 6 theatre before moving to the Broughton Street location.
If all things are finalized, Gent said they hope to be moved in for the Vancouver Island Y’s 150th anniversary in 2025.