Committee backs additional $2.7 million for massive affordable housing development in SOHO

Conceptual drawing of the proposed Vision SOHO Alliance development on South Street (Source: Vision SOHO Alliance)

London City Council is being asked to increase its contribution to the Vision SoHo Alliance residential development on the former hospital lands on South Street from $11.2-million to $13.9-million.

Last December, city council approved a one-time grant to support 400 affordable units in the development, but a new report to the Community and Protective Services Committee (CAPS) recommends increasing support by an additional $2.7-million.

The increase would boost municipal support from $28,000 per unit to $34,690 per unit.

In a letter dated May 27, 2022, Vision SoHoAlliance made several requests for consideration by city council that would alter the contribution amount based on the calculation of demolition offsets to development charges as well as Heritage Community Improvement Plan (CIP) credits.

The net result, civic administration recommends increasing the municipal contribution by $2.7-million.

The per unit contribution would remain within the parameters established in city hall’s plan to have 3,000 new affordable housing units created in London by 2026.

Vision SoHo Alliance is a non-profit coalition of experienced providers of affordable housing:

• Indwell Community Homes
• Zerin Development Corporation
• Homes Unlimited (London) Inc.
• Chelsea Green Home Society
• London Affordable Housing Foundation
• Italian Seniors’ Project

The Alliance was the successful purchaser of the former Old Victoria Hospital Lands, Phase II on the north side of South Street between Waterloo Street and Colborne Street, including one parcel on the east side of Colborne Street.

The property will be redeveloped into a mix of energy efficient, accessible, and socially inclusive housing within a mixed-income and mixed-use community.

The CAPS Committee will consider the additional funding request at its meeting on July 26. 

The Community and Protective Services Committee (CAPS) unanimously supported the request by the Vision SOHO Alliance at its meeting Tuesday evening.

Council will make a final decision Aug. 2.