Ontario Construction News staff writer
Sifton Properties Limited will receive $3.29 million to convert office space at 195 Dufferin Avenue in London into 94 residential units.
The City of London has approved funding for the second office-to-residential conversion project under its Office-to-Residential Community Improvement Plan (CIP) Incentive Program]
Grants of up to $35,000 per unit will be awarded to eligible projects in the Downtown Community Improvement Project area. The goal is to fund an additional 285 units as part of London’s Provincial Housing Pledge to build 47,000 homes by 2031.
This project is part of a unique, not-for-profit partnership involving Homes Unlimited (London) Inc., the Anglican Diocese of Huron, and St. Paul’s Cathedral. It marks a significant step in the City’s efforts to address the housing crisis and meet its provincial housing targets.
The Office-to-Residential CIP Incentive Program, approved by council in February 2024, aims to increase the supply of residential units in downtown London by incentivizing the conversion of underutilized office spaces into affordable housing.
Mayor Josh Morgan expressed support for the project, noting its alignment with the city’s Roadmap to 3,000 Affordable Units Action Plan.
“As part of our affordable housing initiative, we are proud to support this project, which will include 10 affordable units funded by the Roadmap to 3,000,” said Morgan. “We’re also excited that Homes Unlimited will offer many other units at affordable rents, further addressing the need for affordable housing in our community.”
Sifton Properties Limited President and CEO Richard Sifton called the project a “wonderful example of how community partners can come together to achieve shared goals for the greater good of the city.” He added that the funding would help cover renovation costs to convert the former office building into much-needed residential units in London’s core.
The conversion at 195 Dufferin Ave. is expected to contribute to the revitalization of downtown London while helping address the ongoing housing shortage. The project is one of several under the Office-to-Residential CIP Incentive Program, which aims to reduce vacant office space and increase housing availability in the city’s downtown core.
“City staff are here to work with property owners and developers to create new housing opportunities,” said Scott Mathers, deputy city manager of planning and economic development. “We are committed to transforming vacant office spaces into homes for Londoners.”