Weekly Regional Business Intelligence
|
|
|
Written by Kieran Delamont, Associate Editor, London Inc.
|
|
 |
|
Office conversions take centre stage at mayor’s State of the City address
At his second annual State of the City address at RBC Place on Thursday morning, Mayor Josh Morgan focused most of his attention on new housing strategies and progress on the city’s homelessness strategy. Included in the strategies is a new Community Improvement Plan (CIP), which will offer developers incentive to convert vacant downtown office space into residential units. Morgan said the city plans to offer a $20,000 grant for every new one-bedroom apartment built and $28,000 for two- and three-bedroom units under the proposal that will go to a city council committee for approval next month. “Our program proposes a grant of $20,000 for single bedroom apartments and $28,000 for apartments of two or more bedrooms. The opportunity to breathe new life into these buildings is immense,” he told the gathering of more than 1,200 in attendance. Morgan said funding the CIP could come via the $74 million awarded to London from the federal government’s Housing Accelerator Fund. Other housing-related ideas pitched at the State of the City address included a plan to partner with private developers to transform some core area municipal parking lots into residential buildings with public parking in the garages, as well as the transformation of the vacant former Elmwood Place Long Term Care Home into supportive housing (see following story).
The upshot: Converting office buildings to residential use is a hot topic among developers and municipalities seeking to bring more inventory to housing-constrained cities. And with good reason: Office occupancy rates have yet to recover from pandemic-era declines (London’s core office vacancy rate stands at around 28 per cent), and many advocates argue that North American cities already have too many office buildings by design. But – and it’s a big but – converting commercial offices into residential spaces is easier said than done. In many cases, office buildings are simply not compatible for housing retrofits, with some researchers estimating the percentage of office buildings in North America suitable for such conversions hits a wall at around 11 per cent. Nonetheless, even an uptake of 10 per cent of London’s vacant office space would make a huge difference, and local developers appear keen to explore the options. “It’s really a very underused asset, when we have office buildings that are empty and not able to fill them,” London Development Institute executive director Mike Wallace told the London Free Press. “There are some hurdles to making it happen, and the mayor’s commitment to a program to incentivize the development industry to look at what needs to happen to make those changes will be very welcomed by the industry.”
Read more: London Free Press | CTV News London
|
|
|
 |
|
Consortium of four local development firms proposes supportive housing project
A new “highly supportive housing project” is in the works at 46 Elmwood Place, part of a collaboration between local developers The Tricar Group, Auburn Group, Drewlo Holdings and Sifton Properties. Proposed as a response to the pressing need for urgent and affordable housing in London, the project will see the former Elmwood Place Long Term Care Home (pictured) redeveloped to provide affordable housing that includes wrap-around services and support. Though details at this point are limited ― expect a more fulsome picture as an actual proposal begins to take shape around the project ― what is clear is that the city and the development partners are keen to work together. “We all actively participated in the Health and Homelessness Summit and were inspired to engage and contribute,” said Adam Carapella, vice president of The Tricar Group. “Together, we have a comprehensive understanding of the work and can leverage our combined construction expertise and community-building mindset. Our hope is that this project can be successful and act as a catalyst for other supportive housing projects within the city.”
The upshot: First announced at Mayor Josh Morgan’s State of the City address on Thursday, the proposed project will leverage the group’s thorough understanding of redevelopment and retrofitting processes and will also bring in the expertise of Indwell to collaborate and manage the supportive housing operations. “Creative partnerships like this one will accelerate life-saving solutions for people seeking dignified, safe and permanent housing,” said Jeff Neven, CEO at Indwell. “Our local business partners share our commitment to building thriving communities, and their support allows us to make a meaningful impact on the lives of those in need.” According to a press release issued by the development consortium (they’re calling themselves the Developing for Change Group), the team is actively working on building permits and construction is anticipated to begin soon.
Read more: The Tricar Group
|
|
|
|
2022 Heritage Collection Whisky from Paradigm Spirits Co. named 2024 Whisky of the Year
Move over Pappy Van Winkle ― the 2022 Heritage Collection Whisky from London’s Paradigm Spirits Co. netted quite the honour last week, taking home 2024 Whisky of the Year accolades at the annual Canadian Whisky Awards held in Victoria, B.C. It was bestowed top honours by a panel of 10 judges, who tasted and scored nearly 200 competing whiskies in blind tastings and declared the 2022 Heritage Collection a “clear winner” and a “beautifully made, elegant whisky.” Made from 100 per cent Canadian corn, the whisky spent 19 years maturing in oak barrels before the whisky-makers at Paradigm then blended in a touch of classic Oloroso (“scented” in English) sherry, resulting in a unique and highly approachable flavour profile.
The upshot: As an innovative and relatively young distiller (established in 2020), the company is patiently waiting as its own distillate matures. But in the meantime, Paradigm scours distilleries far and wide to seek out outstanding whiskies, then applies its own blending and refinishing processes to transform the finds into what it calls “liquid works of art.” Paradigm partner Michelle Dubas noted, “It took a very long time to balance the flavour and develop the mouthfeel we wanted to achieve. The positive response from a diverse audience, from newcomers to seasoned enthusiasts, affirms that we are producing something truly special.” Not surprisingly, awards such as this tend to drive sales, and Dubas said sales of the 2022 Heritage Classic (it retails for $119.42) have skyrocketed on the news, particularly among whisky collectors and enthusiasts. “When it’s gone, it’s gone,” Dubas told the London Free Press.
Read more: Canadian Whisky Awards | London Free Press
|
|
 |
|
Fanshawe joins other Ontario colleges in weighing impact of student visa cap
One of the biggest news stories of the week was the federal government’s move to issue a two-year cap on international student visas, reducing the total number issued by 35 per cent and divvying them up between the provinces in a more rationalized way. Ontario, for instance, will see a 50 per cent reduction of international enrolment, while other provinces will still have space to grow international student populations. The move wasn’t totally surprising – the feds have been taking a lot of heat on housing, and international student visa numbers have been under scrutiny lately, even if it’s ultimately provincial jurisdiction. It will, however, have a pretty substantial impact on colleges like Fanshawe, which had the fifth highest number of international student visas approved in 2023.
The upshot: Ontario post-secondary institutions, Fanshawe included, are immediately sounding the alarm on what the reduction might mean for their bottom line, as well as the wrench it throws into their forecasting. Some perspective is useful: a 35 per cent cut to international student visas brings it roughly in line with 2018 levels, right around when the total numbers started to spike. What will be interesting to watch for is whether the cap comes with more targeted measures to crack down on private colleges, which were singled out by immigration minister Marc Miller. On the campuses themselves, organizations seem to mostly be trying to figure out what the final impact will be. “At this moment, we’re just collecting some information and seeing, like, what is the extent of the effect on our college,” Fanshawe Student Union president Stephin Sathya told CBC News London. For its part, Colleges Ontario, an association of the province’s 24 public colleges, said the federal government has created chaos for prospective international students by imposing what amounts to a moratorium on their applications for study permits. “The focus for our members right now is dealing with the panic of international students who are already in the pipeline,” said president Marketa Evans. “Our first call to action is for the federal government to put an end to the moratorium that they have imposed, because it’s wreaking havoc with people’s lives.”
Read more: CBC London | The Peak
|
|
|
|
Western historian seeking stories about the O-Pee-Chee Company
In 1911, brothers JK and DH McDermid founded the O-Pee-Chee Company, Ltd. in London ― and you can still see the building at 430 Adelaide Street that once housed some of the world’s premier gum-making technology. If you grew up in the 1970s or 1980s, you probably remember their hockey and baseball cards best. And now a Western public history professor, Michael Dove (pictured), is looking to hear from Londoners who remember a bit about O-Pee-Chee or worked there over the years ― and if you happen to have some old O-Pee-Chee cards, even better. “We’re all at that age now where we are finding items that have been tucked away for years in our parents’ attics and basements,” Dove said. “Before they’re turfed out, I want people to know we want to see everything: old posters, product packaging, pay stubs and anything else, really.”
The upshot: Of the many historic companies sprung from London over the decades ― Labatt, London Life, Canada Trust ― O-Pee-Chee might be one of the forgotten names these days, remembered as an old-timey maker of old-timey stuff. But (and maybe this is the sympathies of the Western history grad typing right now) public history projects like these can sometimes have a way of breathing new life into old stories. According to Dove, he is not exactly sure how he will present his finding (anything from a book to a TV documentary or podcast are considerations), but the project is underway and he figures there are still a number of former employees out there, most in their late 60s to early 90s. “O-Pee-Chee meant so much to so many people and it’s so great it all started here in London,” Dove said. If you would like to connect with Dove about the O-Pee-Chee project, you can email him at [email protected].
Read more: Western News
|
|
|
 |
|
City councillors back renoviction study
City councillors unanimously backed a motion brought forward by Mayor Josh Morgan, deputy mayor Shawn Lewis and Councillor Peter Cuddy to ask staff to study what the city can do to prevent or limit “renovictions” ― a term for the practice of undertaking renovations intended to clear tenants out of a residential unit ― this week. Other Ontario municipalities, most notably Hamilton, have been active of late in trying to set regulations around these sorts of evictions. The motion was advocated for by tenants’ advocacy group ACORN, which would like the city to guarantee tenants the right to return to the renovated unit at the same rent.
The upshot: Renovictions have been a focal point for tenants in the province, and there’s a sense that they represent a loophole that landlords can use to get around a tenant’s right to remain in a particular unit. Municipalities in Ontario are only starting to explore their powers to actually crack down on the practice, so it remains to be seen what the city comes up with. Councillor Sam Trosow said that even just the appearance of taking action might help reduce the renoviction rate. “I think the fact that we’ve already said that we’re looking at this carefully is going to have a good effect in terms of making people think twice before they abuse the system,” he said.
Read more: London Free Press | CBC Hamilton
|
|
|
|
Dispatch: January 26, 2024
A summary of recent business appointments and announcements, plus event listings for the upcoming week.
View listings here
|
|
|
|
|
|
