Prime downtown London, Ont. development site hits market for $40M
Adjacent to several existing and planned transportation routes, the sales pitch for the parking lot across from the RBC Place Convention Centre is all about location, location, location.
“Boom, you’re there! Boom you’re there!”
Realtor George Georgopoulos has listed the four acre property at the south-east corner of York and Wellington for about $40 million on behalf of the private owner.
The price is based on its potential as the largest available development site in Downtown London.
“I’d really love to have a Londoner buy this,” admits Georgopoulos. “It’s our community, our deal. Somebody that can work with the city together.”
Georgopoulos had renderings created to show a mix of residential, hotel, and office towers based on the current zoning.
But the property also backs onto the rail tracks, is on the upcoming Bus Rapid Transit route, and across the road from the RBC Place Convention Centre.
He’s like to see the final design include a public-private partnership to incorporate a transportation hub.
While no significant passenger rail enhancements have been approved, Georgopoulos believes they will come if London has the right station.
“When we get high speed (rail), when we get GO-train, we need a new terminal, and the terminal can be right here.”
Heritage advocates have been pushing for developers to build on downtown surface parking lots, and thereby reduce the need to demolish as many historic buildings.
“Surface parking lots are kind of shovel ready development opportunities,” explains Sandra Miller. “A lot of them already have land use and zoning permissions in place.”
Miller says during her campaign to direct more development to surface parking lots, the lot at York and Wellington has stood out an a prime infill opportunity.
“It’s an amazing location for many opportunities, it’s exciting to hear that it’s available, so I hope somebody snatches it up!” she adds.
Georgopoulos agrees that the property is shovel ready.
“This is a clean slate for construction, because it’s a palette for your own imagination.”
CTVNews.ca Top Stories
Canada Disability Benefit needs to safeguarded from clawbacks, MPs unanimously agree
The federal government needs to safeguard the incoming Canada Disability Benefit from clawbacks and do more to ensure it actually meets the stated aim of lifting people living with disabilities out of poverty, MPs from all parties agree.
BREAKING Security guard shot, seriously injured outside of Drake's Toronto mansion
A security guard working at Drake’s Bridle Path mansion in Toronto was seriously injured in a shooting outside the residence early Tuesday morning, police said.
King Charles too busy to see son Prince Harry during U.K. trip
Prince Harry will not be seeing his father King Charles during his current visit to Britain as the monarch will be too busy, Harry's spokesperson said on Tuesday.
opinion Tom Mulcair: Turfing Poilievre from House a clear sign of desperation by Trudeau Liberals
When Speaker Greg Fergus tossed out Pierre Poilievre from the House last week, "those of us who have experience as parliamentarians simply couldn't believe our eyes," writes former NDP leader Tom Mulcair in his column for CTVNews.ca
Your body needs these three forms of movement every week
Movement is movement, right? Not exactly. Here’s what your body is looking for in addition to your morning walk or yoga session, according to experts.
Six Canadian children repatriated from detention in Syria, Global Affairs Canada says
The Global Affairs Department says six Canadian children have been repatriated from detention in northeastern Syria.
'It looked so legit': Ontario man pays $7,700 for luxury villa found on Booking.com, but the listing was fake
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Quebec to limit sperm donations per donor after 3 men from same family father hundreds of children
Quebec is looking at tightening the regulations around sperm donation in the province following the release of a documentary that revealed three men from the same family fathered hundreds of children.
Canadian cadets rock mullets and place second at U.S. military competition
Sporting mullets, Canadian Armed Forces officer cadets placed second in an annual military skills competition in the U.S.