Ontario Building Information employees author
A second workplace constructing in downtown London, Ont., is being transformed into residential models with the assistance of metropolis funding.
On Thursday, Sifton Properties Restricted introduced it was receiving $3.29 million from town’s office-to-residential conversion incentive program to transform 195 Dufferin Ave. into 94 residential models.
Town says this mission is a partnership with Houses Limitless (London) Inc., the Anglican Diocese of Huron, and St. Paul’s Cathedral.
“This contribution from the city of London will be applied to the renovation costs to make the project successful. It will bring much-needed residential units to our core, while also reducing the amount of office space,” stated Sifton Properties Restricted president and CEO Richard Sifton in a press release.
“This partnership model is an amazing example of how community can come together to achieve shared goals for the greater good of our city.”
This system offers grants as much as $35,000 per unit for eligible conversion initiatives inside the downtown group enchancment mission space.
The purpose of this system is to fund an extra 285 residential models within the downtown space towards London’s purpose of 47,000 properties by 2031.
“We’re thrilled with the level of community interest and remain committed to filling vacant buildings in the downtown and supporting the construction of affordable homes for Londoners,” stated Mayor Josh Morgan in a press release.
Town says via the Roadmap to three,000 Inexpensive Models Motion Plan, town shall be awarding Houses Limitless funding to contribute 10 inexpensive models to this mission.
