LONDON, ONT. — The City of London has announced that will be receiving $3.29 million to convert commercial office space at 195 Dufferin Ave. into 94 residential units.
It is the second office-to-residential conversion project to receive funding through the city’s , stated a release.
The project is a not-for-profit partnership with Homes Unlimited (London) Inc., the Anglican Diocese of Huron and St. Paul’s Cathedral.
Richard Sifton, CEO of Sifton Properties, said the contribution from the City of London will be applied to the renovation costs of the project. The program is supported by the federal Housing Accelerator Fund.
The Office-to-Residential CIP Incentive program was approved by council in February 2024 to help increase the supply of residential units within the downtown. The program provides grants up to $35,000 per unit for eligible conversion projects within the Downtown Community Improvement Project area.
“I’m incredibly pleased to see another successful applicant in this program,” stated Mayor Josh Morgan in a statement. “As part of the City of London’s affordable housing initiative under the Roadmap to 3,000 Affordable Units Action Plan, we are working to award Homes Unlimited funding to contribute 10 affordable units to this project.”
Homes Unlimited is also offering other units at an affordable rent but isn’t requesting additional funding for them.
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