York Developments’ offer to relocate tenants or $10K compensation ‘not enough’ for Ferreira to support 30-storey proposal

A developer is offering tenants at a Ridout Street apartment incentives to leave - but that doesn’t satisfy a London councillor. CTV's Daryl Newcombe has more.

A letter from the president of York Developments, Ali Soufan, aims to address some of the concerns raised in recent weeks about his controversial proposal to demolish affordably-priced apartments and build a 30-storey (286 unit) building at the northeast corner of Ridout Street and Kent Street.

Soufan’s letter to members of City Council reads, “We acknowledge that concerns have been raised respecting the relocation of existing tenants. We take these concerns seriously.”

He makes the following commitment to existing tenants, “compensation of $10,000 per residential unit, substantially exceeding the statutory minimum; or relocation of qualified tenants to one of our similarly affordable units in the nearby downtown core, Southwest London, or Northwest London.”

The developer also offers to create a parkette on a property across the street (565 Ridout St. North) which would become “privately-owned public space.”

However, downtown Coun. David Ferreira says the offer doesn’t address the reasons for his opposition to the redevelopment.

“I like how I see some movement here,” Ferreira tells CTV News. “But at the same time, it’s not enough to tip my vote.”

Ferreira says tearing down the buildings reduces the citywide stock of affordably-priced private market apartments, and a $10,000 payment could be quickly exhausted on moving expenses and higher monthly rent if a tenant signs a lease elsewhere.

“We still have a very low vacancy rate when it comes to affordable housing,” he explains. ”So we’d still be losing affordable housing in that regard. I think it would be better if we saw a temporary relocation [of tenants] and then a replacement in the new building if its approved.”

“Our intention is clear. No tenant should experience financial hardship as a direct result of redevelopment,” Soufan’s letter emphasizes. “The $10,000 per door commitment represents a material financial undertaking and demonstrates our willingness to exceed provincial requirements to address community concerns constructively.”

Last month, a report from city staff recommended refusing the zoning changes because the high rise would be too tall, incompatible with adjacent heritage-listed buildings, and not sensitive to the existing neighbourhood.

Situated just outside the downtown planning district (where the tallest buildings are permitted), city staff suggested the property could accommodate a building with 18 storeys.

“When it comes to the planning perspective this is not constituting good planning, as it says in the report,” Ferreira emphasizes. “And it is not in the public’s interest, as it says in the report.”

Ferreira will urge his colleagues on Council to oppose the redevelopment proposal, “In all of the letters of support that I’ve received since that meeting, it’s obvious the city wants to have a municipal council that’s listening to the interests of the city.”

Council will consider the high rise proposal at its meeting on March 3.

If the planning application is approved, York Developments aims to begin work on the redevelopment early next year.