London Free Press Building Redevelopment

[GreatTallNorth2]

Originally Posted by Djeffery

But one could argue that parking lot on Clarence is actually useful. Right behind Vic Park, right along Richmond Row. Of course we would like to see it developed but until either Mr Mustang Sallys parts with it or figures out how to build, it serves a purpose. Maybe he should talk to the Ben Thanh lady who managed to build something lol. To suggest though that banning future parking lots would force Farhi to sell the LFP building ignores the fact he isn't making revenue on it now (he actually has expenses on it now) and he hasn't felt pressured to sell as far as we know. You'd be hard pressed to come up with a legit reason to deny demolishing the building even if you banned a parking lot from going there.

I’m pretty sure he passed away a year or two ago.

[jammer139]

The old LFP property has had a for Sale/Lease sign up for a while now. Obviously no takers at the price the Landlord was asking. Same thing with the old 231 Dundas St building that he had on the market for over a year at $6M plus and no takers. If he was motivated to actually sell off these properties he would price them at a point where he might get an offer. I can't think of any property that he has actually sold ever. Anyone know of a property he has sold?

[MolsonExport]

Farhi has cornered the London real estate market. Look at Market Tower. The Bell Building. The former Royal Bank Building. The Wright Lithograph Building. The Central Library Building ... (the list goes on and on and on and on).

All empty or nearly so. Buildings owned by Farhi are mostly vacant, buildings owned by others are mostly full. HOW DOES HE PROFIT FROM ALL THESE EMPTY BUILDINGS?

I wonder if Farhi holdings is not just some shell company, useful for washing money.

[jammer139]

Have nearly finished the demolition of the east side loading dock area. Will likely need to shutdown the curb lane and sidewalk of York St next week for a day to pull down that section of wall safely. Rinse and repeat over the coming weeks as they slowly work their way west thru the print shop area of the building before getting to the office area on the west end.

[MrSlippery519]

Originally Posted by jammer139

Have nearly finished the demolition of the east side loading dock area. Will likely need to shutdown the curb lane and sidewalk of York St next week for a day to pull down that section of wall safely. Rinse and repeat over the coming weeks as they slowly work their way west thru the print shop area of the building before getting to the office area on the west end.

I am still surprised this was not developed in some capacity. Was the structure that bad or is it just that Farhi is useless?

I am sure they could have converted a bunch of the space to loft style apartments with some retail out front.

[Snark]

Originally Posted by MrSlippery519

I am still surprised this was not developed in some capacity. Was the structure that bad or is it just that Farhi is useless?

I am sure they could have converted a bunch of the space to loft style apartments with some retail out front.

Not part of the business plan. Consider M.E.'s theory above.

[Djeffery]

Originally Posted by MrSlippery519

I am still surprised this was not developed in some capacity. Was the structure that bad or is it just that Farhi is useless?

I am sure they could have converted a bunch of the space to loft style apartments with some retail out front.

They had a good idea with the plan at the top of this thread. Amir Farahi was a golden child in this city back then, people were touting him as a future mayor. For a young guy, he had a lot of people lined up with him to get this project going. Then he went and put together a couple fake attack websites in the election and his reputation was shot and everyone turned their back on him. Then covid hit and no one was interested in this project anymore.

[jammer139]

Photo in this article of the start of the demolition of the LFP building.


https://londonincmagazine.ca/2024/01...ekly-01-19-24/

[jammer139]

Have started taking down a portion of the York St facing walls. About 70% of the building is now down.

[jammer139]

LFP building is now gone.


The remaining basement walls and basement floor and footings should be dug up next. What they plan to do with the basement walls that run along the York Street sidewalk will be interesting. Also they appear to be planning to leave the concrete patio with a number of medium sized trees in the NW corner.