Plaza Hotel lot sold to local developers, who are eyeing lot for new hotel

Burned-out Plaza site sold, as interest in Greater Victoria hotel sector grows

The sale of the Plaza site is just one of a handful of hotel transactions Victoria has seen over the last few months.

Plaza Hotel lot sold to local developers, who are eyeing lot for new hotel

The fire-ravaged lot of the former Plaza Hotel is changing hands, after the now-former owner decided they would not be able to make a hotel work with the height restrictions. The developer, Ocean Gate, had proposed a 12-storey hotel for the site in downtown Victoria, which required an amendment to the Official Community Plan. The OCP has a limit of five storeys in the area. Ultimately, council declined to amend the OCP when it was brought before…