Nearly half of the parking lots at CF Masonville Place could be covered by new development including residential towers in the coming years.
Cadillac Fairview has submitted plans to the City of London calling for the creation of over 1,000 residential units in three areas.
They would be located in the current south, southeast and southwest parking lots, according to the manager of Current Planning for the city, Michael Tomazincic.
“We’re seeing a mix of high-rise and mid-rise buildings, with commercial at grade, and townhouse at grade, as well as greenspace areas and park areas.”
Tomazincic says the tallest building, up to 22 storeys as currently proposed, would be built facing Richmond Street.
The shorter structures would be in the vast south parking lot, with another building along with residential in the southeast.
CTV News requested comment from Cadillac Fairview, but no response has been returned so far.
Tomazincic says the company wants to move quickly on the project, requesting public meetings be organized in as little as six weeks.
But, he says it will take several months before the proposal goes to municipal leaders for review and potential approval.
For shoppers, the main concern expressed to CTV News was about parking.
Tomazincic says those may be addressed by the creation of parking garages within the new structures designated for shoppers and residential tenants.
Nearby residents were concerned about traffic, the size of the buildings and in some cases, the loss of the parking lots for recreational activities.
