The sale of remaining Old Victoria Hospital Lands will result in 600 new housing units, half dedicated to affordable housing
LONDON CITY COUNCIL has approved the sale of the remaining Old Victoria Hospital Lands (OVHL) for the development of 600 units of housing, half of which will be dedicated to affordable housing units.
The city approved the Phase II plan to sell the lands to Vision SoHo Alliance on Tuesday evening. The deal is worth $2 million.
“This is an important step in the redevelopment of the Old Victoria Hospital Lands and a significant milestone in building more affordable housing for Londoners,” said Mayor Ed Holder in a provided statement.
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Vision SoHo Alliance consists of five regional organizations: Indwell Community Homes, Zerin Development Corporation, Homes Unlimited (London) Inc., Chelsea Green Home Society and Italian Seniors’ Project.
The design concept for the OVHL includes apartments and townhouses, and features a mix of low- to mid-rise buildings, outdoor spaces and underground parking.
The OVHL Phase II includes 124 Colborne Street (0.80 acres), as well as the lands surrounded by Waterloo Street, South Street, Colborne Street and Hill Street (5.45 acres), excluding lands reserved for the future construction of a public square and retained by the City of London.
A future public square will be located at the corner of South Street and Colborne Street.
Council’s approval follows a sale procurement process for disposition of the lands which started in August 2020.