Farhi Holdings Corporation (FHC) plans to convert more downtown London, Canada office space into housing units, utilizing the city's Office-to-Residential Community Improvement Project Incentive Program. This includes converting 685 Richmond Street into 41 units and doubling units at 166 Dundas Street to 32, aiming to address London's affordable housing crisis.
Farhi plans more downtown office-to-housing conversions using city incentive
LondonRichmondBusinessEnvironmentAffordable and low income housing
AI Summary
TL;DR: Key points with love ❤️Farhi Holdings Corporation (FHC) plans to convert more downtown London, Canada office space into housing units, utilizing the city's Office-to-Residential Community Improvement Project Incentive Program. This includes converting 685 Richmond Street into 41 units and doubling units at 166 Dundas Street to 32, aiming to address London's affordable housing crisis.
Trending- 1 Since 2024: City of London's Office-to-Residential Community Improvement Project Incentive Program started.
- 2 July 2024: Maximum grant amount increased from $28,000 to $35,000 per unit.
- 3 March (this year): Sifton told CBC that converting office space is expensive and complicated.
- 4 Recently: FHC retook ownership of 166 Dundas St.
- 5 2025-06-03: Article published, announcing FHC's plans.
- 6 Next five to six months: Construction completion for 685 Richmond.
- 7 Spring 2026: Scheduled completion for 685 Richmond and 166 Dundas St.
- Creation of new housing units in downtown London
- Utilization of city incentives
- Potential alleviation of the affordable housing crisis
- Adaptation of commercial properties to new market demands
What: Farhi Holdings Corporation (FHC) is planning additional office-to-residential conversions in downtown London, Canada, leveraging a city incentive program.
When: 2025-06-03 (article published), spring of 2026 (scheduled completion for 685 Richmond and 166 Dundas), last couple of years (marketing 685 Richmond as office space), since 2024 (incentive program started), July 2024 (grant amount increased), March (Sifton's statement to CBC).
Where: London, Canada (downtown), 685 Richmond Street, 195 Dufferin Ave., St. Peter's Cathedral Basilica, 166 Dundas St., Mississauga.
Why: To address London's affordable housing crisis and adapt to changing downtown environments where office space is difficult to market. The city's incentive program helps expedite these conversions.
How: FHC is using the City of London's Office-to-Residential Community Improvement Project Incentive Program, which offers $35,000 per unit (potentially up to $50,000) for conversions.