Contacts

Bob Levine

Avison Young

Carey Buntain

Avison Young

Brendan Hannah

Avison Young

Property Details

Property Type Other
Property Size 127,825 SF
Date Updated May 14, 2026

Avison Young and Cushman & Wakefield are proud to present The James at Harbour Towers (the "Property"), a landmark 12-storey concrete rental tower located at 345 Quebec Street in the heart of Victoria's acclaimed James Bay neighbourhood. The structure was originally built in 1973 and underwent a full rebuild program in 2020, converting the existing hotel to a 219-unit apartment community. The Property offers a diverse suite mix of studio, one-bedroom, one-bedroom plus den, two-bedroom, and penthouse residences across 127,865 square feet of flawlessly maintained, institutional quality rentable area. With a demonstrated track record of operational excellence, strong rental growth, and exceptionally low vacancy, The James at Harbour Towers is well positioned to generate outstanding long-term investment performance.

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Highlights

Accretive debt provided by two tranches of assumable mortgages, which have a blended interest rate of 2.96%
Bare trust will afford significant property transfer tax savings
Fully rebuilt in 2020, with substantial capital improvements and building system upgrades completed during hotel-to-residential conversion
James Bay's exclusivity and scarcity of high-quality concrete rental product afford The James a highly durable competitive moat, ensuring consistent investment performance
Programmed with best-in-class building amenities, including an indoor pool, hot tub, sauna, modern fitness centre, outdoor gathering space, private courtyard, and communal BBQ area
Proven operational performance has allowed the asset to command strong rental growth and maintain exceptionally low vacancy
The James Bay rental market offers a compelling investment thesis, with only 191 rental units under construction and no concrete rental projects in the development pipeline
The James is the largest concrete multifamily asset listed in Victoria, offering investors the opportunity to establish significant multifamily scale
Unbeatable location in James Bay, one of Western Canada's most desirable apartment nodes. James Bay is surrounded by the ocean, parks, and steps from Downtown Victoria, the Inner Harbour, BC Legislature Grounds, and a myriad of local shops, restaurants, and galleries