40-storey Farhi tower approved by London city council
Concerns raised about flooding, but some councillors say added density is badly needed
A proposal by Farhi Holdings Corporation to build a 40-storey tower next to Harris Park received final approval from London city council on Tuesday.
The tower will be located at 435-451 Ridout St. N., close to a row of heritage buildings along what's known as Banker's Row. The project passed council by a 12-2 vote with Councillors Stephen Turner and Anna Hopkins voting against.
Those voting in favour said the project will add much-needed density to London's struggling downtown.
"One of the important things we need to do as a council is to create as many opportunities as possible for people to live in the downtown core," said Deputy Mayor Josh Morgan. "There are many challenges downtown to getting feet on the street ... to have this level of density with that level of walkability is important."
The proposal calls for a mixed-use tower with 280 residential units. The plan also calls for a multi-level parking area that can accommodate 370 vehicles.
Opponents have said the tower would be a detriment to three heritage buildings along Bankers Row that date from the 1830s.
Another issue raised frequently during the approval process: that a portion of the building will sit on a floodplain.
Coun. Jesse Helmer asked city planner Paul Yeoman about the flooding threat, given the number of flooding events along that stretch of the Thames River in recent years. Yeoman said after a years-long negotiation, the developer and the Upper Thames River Conservation Authority were able to agree to a "technical solution" that satisfied their concerns and that the building will be appropriately flood-proofed.
Opponents of the plan have said the tower would be better located on any of the many other commercial plots or surface parking lots Farhi Holdings owns in the core.
Coun. Phil Squire pointed out that the city has no way to compel a private landowner to build in one location over another.
Turner said he wasn't encouraged by the developer's track record of developing on their properties.
"I don't have a lot of faith this building will ever get built," he said. "I say to the applicant: 'Prove me wrong,' but I'm not quite convinced."
