Massive SoHo complex planned

[Snark]

Originally Posted by ForestryW

Have you heard of this place?(renaissance-center)

Thousands of people work there every day. It was expected to do wonders for downtown Detroit but did nothing.

Huh? The existence of the headquarters of one of the largest corporations in the world in a complex that holds 10,000 employees has done nothing for the area it is located in? Give your head a shake. Like cbyrne2014 said, imagine where downtown Detroit would be without the Renaissance complex (hint: much worse off).

Using the example of a redevelopment complex in Detroit is more than a little disingenuous as well, as it is no secret that Detroit's failing fortunes are due to circumstances far larger and complex than the existence or non-existance of an office/hotel/retail complex. To say that the Renaissance complex is a failure because it didn't save Detroit defies comment.

Originally Posted by ForestryW

The right development for this site is something smaller, a mixed community (which means incomes, ages and ethnicities) and better connected to the neighbourhood.

This is the vision of London held by some that remains a boat anchor in terms of continuing resistance to breaking out of the ordinary. This vision has the city being composed of mainly century homes on tree lined streets, with "big" developments being some brownstone-style townhouses. Basically they want the whole city to be one big Wortley Village. This sort of vision will quickly push London off the list of major cities in Canada if it is predominant in the future however. Being known as a bigger version of St.Marys or Stratford will quickly get the London forgotten on the provincial or national stage.

The difference between SoHo and Wortley village could not be greater however. SoHo needs nothing short of transformational change to kick-start a movement for the entire neighbourhood similar to what the JLC did for the west end of the downtown. If this proposed project turns out to be real (and I still have significant doubts), and it is somehow killed off by local opposition, it will send a clear signal to the development community: status quo for SoHo. Following that the opposition will get that smaller redevelopment it wants over a period of decades: one low-income/subsidized townhouse complex after another. One halfway house after another. One methadone clinic after another....

[haljackey]

• Video Link

I have my last appointment at South Street Hospital on Friday. The few remaining clinics are getting ready to move elsewhere which will be done in early October.

[K85]

From the start, there was nothing normal about a highrise wellness centre announced for the southern edge of London’s core.

It so captured the fancy of city politicians in mid-2012, they wanted it fast-tracked.

As months pass, the 26-storey, twin-towered, $300-million project along the Thames River just east of Wellington St. is getting even more unusual.

The proponent of what would be a soaring new southern gateway to the core in the city’s SoHo neighbourhood wanted first shovels in the ground late last year.

But unexpected wrinkles have arisen that may retard the venture.

Fincore Canada applied to rezone lands it doesn’t own to make way for the project, a move top city planner John Fleming said is “highly unusual” but permitted.

One of those landowners — the Upper Thames River Conservation Authority — is now objecting, claiming the rezoning is “presumptuous.”

Ironically, the conservation authority agreed earlier to sell its land to the city that also owns land in the area and plans to declare it surplus, making way for the Fincore complex.

The conservation authority doesn’t like the “optics” of what the city may do with the authority’s land, fearing it may give an inside track to Fincore.

“We’re objecting to a rezoning application while we are still owners of the parcel,” said Ian Wilcox, general manager of the conservation authority.

The land in question is bounded by Wellington St., South St., Waterloo St. and the south branch of the Thames River.

Between them, the city and conservation authority own more than half the land. Fincore said it owns or controls the remaining land. About a third is designated as floodplain and can’t be developed.

In a letter to the city, Wilcox said the authority “also has concerns regarding the optics of this application which includes publicly owned lands.

“Fincore group has expressed interest in purchasing said public lands,” he wrote. “We are concerned about the fairness of a proposed public land sale process being led by the city of London that has one potential bidder proceeding with an application for rezoning in advance of any land sale.”

Wilcox added bluntly: “This action is presumptuous and cannot be supported by the authority.”

He told The Free Press nothing in the province’s Planning Act prevents a proponent from rezoning someone else’s land, but the authority couldn’t go along with it.

“Our assumption is we are mainly a speed bump,” he said, adding he doubts his opposition will scuttle the plan. But approvals are still needed from the Ministry of Natural Resources for the sale and that could take time.

For its part, Fincore says if council approves, it can proceed with the first phase of the project without city or conservation lands.

“We’d like to get started as soon as we can,” Fincore spokesperson Julie Misener told The Free Press.

City planner Fleming said he’s aware of the conservation authority’s objection and agrees the Fincore rezoning bid is “definitely an unusual scenario.”

He said council is committed “to a fair, open and transparent process.”

Planning staff will make its recommendation about the rezoning bid in late February. Meanwhile, realty services will finalize the purchase from the authority and then offer to the public all lands being declared surplus.

Fleming said the zoning relates strictly to the property and not the owner.

“If somebody else acquires the land, they could build whatever these permissions allow,” he said.

Bill Warner, manager of realty services for the city, said he expects to issue a “request for proposals” for the city and conservation authority lands sometime this spring.

At Fincore, Misener said the firm is “committed to an open and transparent process.” She said the first phase could soon start on lands the firm already owns or controls and it “can stand on its own.”

Fincore principal Loredana Onesan said last June she hoped work could begin on the site before the end of 2012.

Among those saying they were impressed with the high-rise wellness centre was Mayor Joe Fontana, who chairs Trinity Global Foundation, a charity on which Onesan sits as a director.

“No doubt this is going to be a signature project for the city,” Fontana said last June, joining the rest of council’s investment and economic prosperity as it urged planners to process it “expeditiously.”

Trinity Global has seen dramatic increases in givings from $70,000 a year to about $70 million under Fontana’s five years of leadership.

Trinity Global just completed a one-year partnership with Global Learning Gifting Initiative, a tax shelter the Canada Revenue Agency has criticized as a “sham” scheme.

[Pimpmasterdac]

It's unfortunate that this project seems to have stalled. Here a company is willing to invest in an area that badly needs it but basically because the conservation authority, a bunch of appointed nobodies who don't like the project or the "optics of it", they're gonna hold up a $300 million project!?

From the aerial photo of the location from LFpress, it looks like a demilitarized zone, a poster child of urban decay. Redevelop the area and don't listen to those pesky NIMBY neighbors that seem bent on stopping this development.

[GreatTallNorth2]

Originally Posted by Pimpmasterdac

Here a company is willing to invest in an area that badly needs it but basically because the conservation authority, a bunch of appointed nobodies who don't like the project or the "optics of it", they're gonna hold up a $300 million project!?

These bunch of nobodies currently own the land. This company (and I use that term loosely) doesn't own the land, nor have they ever built anything remotely like this before. Which company, whom no one has heard of, has $300 million kicking around to invest in London, Ontario? It sounds pretty fishy. If this "company" is real and has money, they will take their time and build this project right.

I hope I am completely wrong and that it gets built as it looks amazing.

[Pimpmasterdac]

The board of directors of the Upper Thames River Conversation Authority (UTRCA) are appointed by local municipal councils. London has 4 of the 6 positions, and thus de facto owns the board. UTRCA currently hold a portion of the land, and are set to declare it as surplus. The only reason they've stopped it is because there are some members of the board (ie. Joni Baechler) that are anti-development. It's not for them to decide who should or shouldn't get surplus land. There only duties should be to manage the Thames.

But I wholeheartedly agree with you GreatTallNorth2, there should be some protective clauses as part of any sale! Perhaps that the land needs to be developed as proposed with a certain time or it reverts back to the city to stop any speculation or flipping of the property. Fincore is an unknown so it shouldn't be carte blanche, but it shouldn't be held up because some NIMBYs & anti-development councilors don't like it.

[manny_santos]

I'd rather see this land developed instead of more towers going up in the cornfields of Hyde Park.

[MrSlippery519]

Originally Posted by manny_santos

I'd rather see this land developed instead of more towers going up in the cornfields of Hyde Park.

That is how I feel as well, this area desperately needs something to happen. As Pimpmaster said there should be terms that go along with the land but give Fincore a chance to either build what they said or end up losing the land if not.

[haljackey]

Originally Posted by manny_santos

I'd rather see this land developed instead of more towers going up in the cornfields of Hyde Park.

Agreed. Let's make an exception and clear the red tape for this one.

[GreatTallNorth2]

Originally Posted by haljackey

Agreed. Let's make an exception and clear the red tape for this one.

Guys, after living in the UK for the past 15 months, I can assure you that there is no such thing as red tape in London, Ontario. The fact is, there is no red tape, but rather developers have had carte blanche for so long that people think it's normal.

Neighbourhoods, planning departments and citizens have a right to decide how there city develops. The city should do their due diligence on something of this magnitude. If this company is serious, they will be part of the process and engage the neighbourhood, etc.

[Pimpmasterdac]

It's unfortunate but we have a very bipolar council, those that are pro-development at any and all costs, and those against any development reasonable or not. There's no middle ground, just ideological positions. Hell it's not even getting to council with the UTRCA and anti-development board stalling tranfer to the city. The city should definitely do its homework, see if the proposal has legs to stand on, offer any land conditionally.

However that said Fincore has engaged the community and had open house/public information sessions on the development. Essentially those on the north side of South St. are against this development. They say they're for development, but only on their terms which means something pitifully small compared to the one proposed. This would be a huge boon for SoHo, property values and the city's tax coffers.

[MolsonExport]

This would be a fantastic gateway to central London, but I have been extremely skeptical since day one. Let's face it: our economy is in the dumps, and office/apartment vacancies are very high. Ergo, no solid business case to support these projects.

Of course local residents need to have some input. Wouldn't you, if you lived in the neighborhood, and owned a house/property in the area?

[MolsonExport]

Originally Posted by manny_santos

I'd rather see this land developed instead of more towers going up in the cornfields of Hyde Park.

Third that.

[Pimpmasterdac]

It's been well over a year since any update on the Fincore proposed development, but by the sounds of this article project is all but dead. Despite objections from some neighbours about the rezoning, and getting approval from the OMB to start developing land it owns, Fincore has done nothing. A proposed development of theirs in Dorchester for a retirement home that took deposits has handed them back and they are not commenting on the SoHo development status. Quite unfortunate if this whole are is to remain a blighted brownfield, the area by the Thames if properly developed could transform it much for the better!

http://www.lfpress.com/2014/04/04/ma...m-just-a-dream

Mayor Joe Fontana’s dream of reaping political bang from a $300-million mega-project he touted as a huge boost for London’s core may be going bust.

More than two years after the mayor unveiled the downtown gateway project, it appears developer Fincore Canada might have difficulty pulling it off, given apparent troubles at a much smaller project outside the city.

Fincore isn’t talking about the status of the twin-towered project Fontana announced in his “state of the city” address two years ago. Neither is Fontana, who figured to point to the project as part of his legacy in a re-election bid.

Repeated calls for an update from Fincore principal Loredana Onesan, once a fellow board member with Fontana for a charity whose charitable status was yanked, have gone unanswered.

The massive anti-aging and wellness development was announced for the north bank of the Thames River, east of Wellington St. Its design features towers of 26 and 18 storeys, linked by medical, commercial and residential components and even a church.Fincore rezoned some land it doesn’t yet own for the development, prompting landowners to appeal to the Ontario Municipal Board. Those issues were resolved and there’s no legal barrier to the project’s first phase on land Fincore owns or controls.

The Free Press has learned the company has a troubled history as a developer, raising questions about its SoHo development.

A $20-million, 92-suite Oasis Retirement Residence in Dorchester was to have opened in 2013, but remains a vacant field. Construction giant Ellis-Don, which was to manage the job, is no longer involved. And a firm that built components for the project hasn’t been paid. Nearly $2 million in building components it delivered to the site last fall have disappeared in recent weeks.
Fincore’s only other development in the area, the $10-million, 55-bed Oasis Retirement Residence in Lucan, opened in 2012 but was taken over by an Oasis funding partner a year later and renamed.
The public face of Fincore, Julie Misener, its marketing and communications director, was let go in late July and hasn’t been replaced. She won’t discuss the factors behind her departure.
Several months ago, Fincore vice-president Craig Gauld told The Free Press “certain people are saying untrue and inaccurate things about Fincore’s development of the SoHo project.” He insisted then Fincore has “already started the process” to develop its 26-storey tower. Despite repeated calls for comment, ­Fincore provided no update in recent days.

The Dorchester project appealed to an 85-year-old London woman, who put down a $1,000 deposit for a suite in the facility.

When the complex didn’t open as promised, the woman, who didn’t want to be named, sought and eventually got her money back.

“I wanted to be near my neighbours and friends,” she said of moving back to her hometown.

“I’m rather disappointed in the whole thing.”

So, too, is Deputy Mayor Marcel Meyer of Thames Centre, who was at the Oasis ground-breaking last July.

“The community expected it fairly soon,” he said, adding, “we are hopeful” it’ll still be built.

With all approvals in place, all that’s needed is a building permit, said Thames Centre chief administrator Greg Borduas.

Last November, Magest Building Systems of Stratford delivered to the site steel panels it made for the four-storey building.

Magest worked with Oasis on the Lucan project and was contracted for fabrication on the Dorchester project, ­Magest president Gary Martin said. “They gave us an order to proceed on Dorchester and we built it. The entire building system was ­produced.

“It has not been paid for,” he added.

Martin was surprised when told the material was removed from the site several weeks ago — by whom, it’s not known.

“Our position is they bought it and we delivered it and they owe us the money,” he said of Fincore and Oasis.

Martin declined to value the material, but The Free Press has learned it was worth nearly $2 million.

Martin said Magest remains willing to proceed, but has heard nothing from Fincore.

Today the site is littered with broken bits of lumber, along with a sign showing the proposed home and a locked sales trailer containing a model of the project.

At Ellis-Don, vice-president Brian Waltham said Fincore retained the firm as construction manager and his firm’s logo still appears on the site sign — something he hopes to rectify.

“Ellis-Don is no longer involved in the project,” he said.

In Lucan, under Fincore ownership, staff members at the Oasis home were fired amid a union organizing drive in 2012. Last September, Marshall Zehr Group, a partner with Fincore, took it over but a company principal declined to say why.

Meanwhile, it appears Fincore is looking at other development projects. Several weeks ago, ­Fincore’s Onesan was shown around Stratford by local ­officials.

“They were interested in a site for development . . . a larger development,” recalled Mayor Dan Mathieson.

Bound by a confidentiality agreement, Mathieson said he has to be careful but it was clear ­Onesan was looking for a vacant site without environmental issues. It’s understood Fincore has also looked at Goderich as a site for another home.

chip.martin@sunmedia.ca

twitter.com/ChipatLFPress

--- --- ---

FINCORE CANADA DEVELOPMENTS

SoHo Wellness Centre, London

What: $300-million complex, 18- and 26-storey towers, commercial, medical and residential components on north side of Thames River, in SoHo district.
Status: Proposed.
Lucan retirement home

What: Oasis Retirement Residence, 55-bed seniors’ home; opened June 2012.
Status: Acquired by Fincore’s partner in 2013; renamed Prince George Retirement Residence.
Dorchester retirement home

What: $20-million Oasis ­Retirement Residence; 92-suite facility.
Status: Was to have opened in 2013. Status unknown. Lot vacant.
--- --- ---

THE LINK

When Joe Fontana announced the Fincore project in January 2012, Fincore principal Loredana Onesan had just become a director of Trinity Global Support Foundation. Fontana was a director and later, chair, of Trinity, which in 2012 issued $152 million in charitable receipts. Trinity’s charitable status was revoked in 2013 by the Canada Revenue Agency, which ruled its charitable activities had become secondary to its activity as a tax shelter.

[haljackey]

With the demolition of the South Street Hospital now underway, now is the time to make good on their proposal or pull out so someone else might do something when the buildings are cleared.

I can't even find some decent-resolution renderings of the development, which makes me question the proposal compared to the more recent 100 Fullarton Street proposal.

I have doubts about the validity of the project, but I am an optimistic person... Maybe this will actually happen.

[GreatTallNorth2]

Originally Posted by haljackey

With the demolition of the South Street Hospital now underway, now is the time to make good on their proposal or pull out so someone else might do something when the buildings are cleared.

I can't even find some decent-resolution renderings of the development, which makes me question the proposal compared to the more recent 100 Fullarton Street proposal.

I have doubts about the validity of the project, but I am an optimistic person... Maybe this will actually happen.

I am an optimistic person too, but there is less than a zero percent chance that SOHO project will go anywhere. I don't even think there was any intention on building it. Not only because the project is not viable, but also because they are not even remotely credible as developers.

[Pimpmasterdac]

It's quite unfortunate that nothing ever became of this.. Fincore sounded a bit shaky from the start, and not being able to even complete a retirement home as scheduled in Dorchester is the cherry on top. The Fontana connection just casts even more shadows and questions over the whole deal, considering they wanted UTRCA land sold as surplus land and development of the whole property was a sham, perhaps as a quick flip to an actual developer for a profit...

Luckily I don't believe UTRCA ever turned over the portion of land next to the river that they were salivating over. It'll be interesting to see what becomes of the land as they still own good portions of it and its been rezoned. Land still has multiple owners, Fincore, UTCRA, accountant at the corner who refused to sell. Hopefully ends up better than a historical parking lot!

[MolsonExport]

Anything associated with Fraudtana is shaky.

[MrSlippery519]

As everyone else has mentioned this has been a shaky pipe dream at best, not that the vision couldn't happen but not with Fincore involved.

Add to that they were showing land in their proposals they didn't even own yet. The building on the corner is my accountants office and they had mentioned to me on more than one occasion they were not going to allow them to just come in and take over. Granted they would have liked to see something built on the empty lot and houses if proper steps were taken.

[Stevo26]

Originally Posted by MrSlippery519

As everyone else has mentioned this has been a shaky pipe dream at best, not that the vision couldn't happen but not with Fincore involved.

Add to that they were showing land in their proposals they didn't even own yet. The building on the corner is my accountants office and they had mentioned to me on more than one occasion they were not going to allow them to just come in and take over. Granted they would have liked to see something built on the empty lot and houses if proper steps were taken.

I'm not surprised that this has come to pass. When it comes to proposed major developments in London, I have a bit of a jaundiced eye and tend to say, "I'll believe it when I see it." Even from the very beginning Fincore seemed kind of sketchy (no pun intended!). I thought the lack of higher-resolution renderings of the proposed project was odd too.

I can't wait to see the Free Press trying again soon to jerk us off again with titillating pictures of yet another proposed development that's destined to go nowhere. Any bets on when this is going to happen? Anyone?