Mayor Josh Morgan announcing the conversation of 166 Dundas St. into rental apartments, May 23, 2024. (Photo by Craig Needles, Blackburn Media)Mayor Josh Morgan announcing the conversation of 166 Dundas St. into rental apartments, May 23, 2024. (Photo by Craig Needles, Blackburn Media)
London

Former downtown Rexall building to be converted into 15 apartments

The wait to see empty downtown offices converted into housing is over.

Mayor Josh Morgan announced the approval on Thursday of a project by real estate development firm MAAS Group to turn the former Rexall building at 166 Dundas Street into rental apartments.

"We certainly have a building that can be moved into residential units very quickly and very effectively. You'll see commercial units on the first two floors and 15 places to live on top of them. I'm really excited," Morgan said.

The project at Dundas and Richmond is the first to be granted approval under the city's new office-to-residential CIP incentive program. Introduced by Morgan during his state of the city address in January and formally launched by the city in February, the program gives grants to eligible office-to-residential conversion projects. The projects have to be equal to the amount of applicable development charges based on the number of bedrooms per unit and the total number of residential units created, up to $2 million per property.

MAAS Group is receiving $414,947 in incentive funding from the city for the 166 Dundas Street project. The building has been empty for the past six years.

“We are proud to be able to participate in the City of London’s Office-to-Residential program and bring much needed residential units to the heart of London,” said Samir Jan, the president and chief executive of MAAS Group. “We believe in the city’s vision for the core area and the transformation of Dundas Place, and we are honoured to participate in the revitalization of this heritage building and bring new life to this underutilized property.”

Construction is already underway with the apartments expected to be move-in ready by fall.

"This spot makes sense because we have this building already here," said Ward 13 Councillor David Ferreria, who represents the downtown. "It is part of the face of the core. Right at this intersection. We're trying to show the public that yes, we have this program, it is working, and this is the first step."

*With files from Craig Needles

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