London Development Rumour Thread - Page 6

Djeffery · #**101** Posted **Nov 24, 2020, 1:53 PM**

Just to clarify, CTO said this is an indefinite closure, not necessarily a permanent one. They hope to re-open next year but are non-committal on whether they will be able to.

ssiguy · #**102** Posted **Nov 24, 2020, 7:52 PM**

Kind of sad news for such an institution. It's been around forever.

It's actually quite a nice and historic block building so I hope if there is a replacement they incorporate the existing building into any new proposal.

jammer139 · #**103** Posted **Nov 26, 2020, 7:21 PM**

Heavy equipment returns to 120 York St for demolition. JAAR signage up so they must be the contractor for the work.

jammer139 · #**104** Posted **Dec 4, 2020, 7:11 PM**

Nothing left above ground now at 120 York St. Excavating out the basement concrete and walls and trucking in fill to level out the ground is left. Farhi may decide to pave over the footprint now or wait to spring.

jammer139 · #**105** Posted **Dec 6, 2020, 6:31 PM**

Call the Office - 216 York St just sold.

216 York Street
type Commercial building
price $1,040,000
seller 2736716 Ontario Inc.
buyer TKFV Holdings Ltd.

If the car detailing shop to the west and parking lots are being assembled we might see a interesting project proposed for this area.

ssiguy · #**106** Posted **Dec 6, 2020, 9:25 PM**

Quote:

Originally Posted by jammer139

Nothing left above ground now at 120 York St. Excavating out the basement concrete and walls and trucking in fill to level out the ground is left. Farhi may decide to pave over the footprint now or wait to spring.

This is actually a pretty big building on a big lot so it must have cost a small fortune just to tear it down which makes me think there must be a development in the works.

That_Chris · #**107** Posted **Dec 7, 2020, 1:54 AM**

Quote:

Originally Posted by ssiguy

This is actually a pretty big building on a big lot so it must have cost a small fortune just to tear it down which makes me think there must be a development in the works.

It's Farhi. He's either going to turn it in to a parking lot, or turn it in to a parking lot with a giant billboard on it that says FARHI.

Djeffery · #**108** Posted **Dec 7, 2020, 2:20 AM**

Although I can't imagine where the need for this parking lot would come from. Even when Bud Gardens is back up and running, that's maybe a couple evenings a week.

ssiguy · #**109** Posted **Dec 7, 2020, 4:46 AM**

It's not that I trust Farhi but rather that the expense of tearing down a building and then repaving it costs a lot of money and to just turn it into parking would be a huge financial loss.

MolsonExport · #**110** Posted **Dec 7, 2020, 10:53 PM**

Farhi is exceptionally skilled at building parking lots and emptying out buildings he owns. I just don't understand how his ineptitude pays dividends. Sad that he has cornered the London commercial real estate market. He's like the KC Irving (who owned half of New Brunswick) of London.

Djeffery · #**111** Posted **Dec 7, 2020, 11:08 PM**

At least the Irvings had various businesses attached to their many signs lol.

jammer139 · #**112** Posted **Dec 8, 2020, 8:38 PM**

Actually a vacant building earns nothing and the costs of property taxes, insurance, utilities, security will cost you alot more. A surface parking lot will generate revenues and be profitable with very little in the way of expenses. This will be a parking lot for years to come as long as it is owned by the Landlord.

Quote:

Originally Posted by ssiguy

It's not that I trust Farhi but rather that the expense of tearing down a building and then repaving it costs a lot of money and to just turn it into parking would be a huge financial loss.

jammer139 · #**113** Posted **Jan 19, 2021, 5:40 PM**

They have only backed filled some of the basement level of 120 York St to date.

jammer139 · #**114** Posted **Feb 20, 2021, 4:16 PM**

Looks like York owns 496 Dundas St. The former grocery store has had many businesses come and go over the past few decades and is now vacant. The lot is quite large and could be an interesting development proposal depending on York's vision for the property. Might we see another high rise go up here?

https://www.google.ca/maps/@42.9875978,-...j24kjm2hllFLm1B1WMbqQ!2e0!7i13312!8i6656

ssiguy · #**115** Posted **Mar 2, 2021, 8:38 PM**

It's an excellent location but I don't think you will see a high rise.

The building looks to be in excellent shape so I could see more of a mid-rise 5 to 10 stories meaning the developers wouldn't have to tear down the structure nor put in new parking as there would be more than enough in the rear part of the building and by incorporating the back of the building into covered parking. This saves developers a ton of money and time and such redevelopments usually get very little resistance from neither the community nor the City.

jammer139 · #**116** Posted **Apr 8, 2021, 12:13 PM**

Application to change zoning for 415 Oxford St W lands to allow for upto 16s buildings. - https://london.ca/sites/default/files/2021-03/O-9335-Notice-of-Application-AODA.pdf

jammer139 · #**117** Posted **Apr 9, 2021, 8:36 PM**

Good reminder article on the "landlord" business strategy. - https://www.cbc.ca/news/canada/london/wi...ns-avenue-happen-post-pandemic-1.5972778

MolsonExport · #**118** Posted **Apr 10, 2021, 4:09 PM**

Farhi's a fucking jackass. Unfortunately he's cornered the downtown London R/E market. Which is bad news for everyone. I can't stand that fucker.

Blitz · #**119** Posted **Apr 10, 2021, 6:03 PM**

^ It's horrible the way he lets his properties sit in London and doesn't build anything. It makes no sense. What's even weirder is that he has a completely different reputation in Windsor where he is currently building several new condo buildings, hundreds of homes, and has revamped three hotels.

ssiguy · #**120** Posted **Apr 10, 2021, 7:18 PM**

The City should start levying VERY heavy taxes on all surface parking lots to force people like Farhi to develop the sites. It's obscene that business that create wealth and jobs pay higher taxes than some idiot that just lets the space stay vacant.