Really?

Long post warning: As some of you know, I wear a few hats -- chair of @Downtown_London; vice-chair of @LTCLdnOnt, BoD member for @YOU_London, Residenza Affordable Housing, and @londonlibrary trustee. Firstly, I am speaking on behalf of myself, not my employer, nor for the boards where I am affiliated. I'm in favour of any proposal that does not have the net effect of increasing commercial space in our downtown. With an overall vacancy at 28.1% (which includes the removal of the vacant LFP site) the last thing we probably need is additional inventory we cannot fill. Anything that adaptively re-uses existing commercial space (that we have in abundance) is a good thing. Market Tower, where CoL community / neighbourhood services was located, was itself an award-winning adaptive reuse of the former Bay / Simpson's / Smallman & Ingram space. To compound things, net absorption rates have been negative for four quarters in a row - a harbinger of space needs re-evaluation as we adapt to a post-COVID work world, and #ldnont employers adjust their physical space needs downward. I will leave city building and civic space comments for those more qualified, but wIth FHC's unsolicited proposal, we have an opportunity to re-purpose an entire contiguous and vacant block in our downtown. I think we can be proud of the stabilizing efforts that YOU has had at the corners of York and Richmond. Why would we not want to see that extend up Richmond from King to Dundas? We have seen how JLC and the Covent Garden Market investments have stablized King and Talbot precinct. The way the deal is structured - with a forward development charge consideration is win win and transfers the downside risk from CoL to FHC. Very interesting. This warrants SERIOUS consideration in my (restated for emphasis and clarity) personal opinion. That said, today's SPPC decision point is about whether new city hall should be limited to only building on the current 'campus' at Dufferin and Wellington. The issue of downtown adjacency notwithstanding, adding new office space inventory will only worsen our longstanding vacancy issues in the downtown, which is something we don't need at this time. I will be following the debate closely. I support a referral back to staff. Decision point is far from time sensitive. – at Caledon, Ontario