As part of the Revitalization Initiative the BIA and its partners:
- Market and promote the City of London Incentives Programs.
- Support and manage the application process, including preliminary oversight of design specifications.
- Recruit and /or support new developments and new businesses.
- Offer front line support to developers.
- Facilitate the engagement of the community and the municipality with respect to issues pertinent to planning and development, parking and transportation, road setbacks and licensing.
- Participate in the enforcement of By-laws.
- Cost sharing on the development of the Old East Village Design Guidelines.
- Partnered with the city to develop the Old East Village Greening Plan soliciting funding to support preliminary planning phase.
- Attract, develop and resource programs to support revitalization goals, e.g., corridor greening, energy efficiency, crime prevention.
Investment Highlights:
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Four developments will bring approximately 1,200 new residents to the corridor. |
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By 2013, 22 new stores will be created on Dundas Street |
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Through the BIA Office 40 properties have been renovated or are undergoing renovation since 2008. 29 have utilized City of London incentives and 16 have utilized CMHC RRAP and Convert to Rent Program. |
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3 infill projects to be completed by 2012. |
- Since 2005, $533,000 has been collected from building and sign permits.
- 2003 - 2008: Annual investment has expanded from $1.5 million in 2003, to just under $20 million by 2008. (Figure includes tracking increase in building prices.)
- 2008 - 2010: 40 properties were renovated with City Incentives, CMHC and London Housing Division. Individual owners of small buildings invested over $4 million dollars.
- By 2012: Investment in new residential and commercial development projected at $280 million dollars. This includes Medallion, Centretown and 753 Dundas Street developments
Map of Investment in the Old East Village
Business Attraction and Retention
Old East Village is home to a number of unique, one-of-a-kind businesses, including specialty stores, restaurants and cafes.
- Targeted uses have increased from 2003 to 2010.
- The area has also become home to new arts and cultural venues.
- As a result of renewed interest in business opportunities the vacancy rate has now dropped
- Through the Ontario Hydro Power Savings Blitz Program 62% of eligible businesses had retrofit installations completed, resulting in a total installation value of $70,819.13. This reduces the energy costs of participating business by $22,944.89 or 229,449KWh.
Neighbourhood Sustainability Project
- London Farmer’s Market –At the Farmer’s Market, held at Western Fair, $4.88 million/year is spent at vendors, $2.25 million/year is spent by vendors in London and Middlesex County, and $1.84 million / year is spent locally.
- Redevelopment of Queens Park – Ongoing partner project with the City of London, Western Fair, and the Old East Village Community Association.
- Old East Village Heritage District - Partnered with the City, Community Association to create the largest working class heritage district in Ontario and third largest in Canada.
- Lorne Avenue School - Partnering with the City of London, Thames Valley District School Board, the Community Association and the London InterCommunity Centre to create a neighbourhood centre.
- Carson Library - Partnering with London Public Libraries, the Community Association and the London InterCommunity Health Centre to ensure the growth and future sustainability of Carson library.
- McCormick Site - Partnering with City to link McCormick site redevelopment plan to Old East Village Economic Development Plan.
Next Steps
The BIA and its partners, the City of London, the Old East Village Community Association, the University of Western Ontario, and the Western Fair Association will work with the business, residential and service community to:
- Create a local Economic Development Plan and an Economic Development Corporation.
- Continue to build the Old East Village Culture District.
- Create new and innovative partnerships to facilitate business development, expand existing businesses, and attract new investment and stimulate business development in three sectors of high growth potential:
- A Local Agri-Food District and Centre of Excellence
- The Green Economy
- Arts and Culture
The initiative will run for two years and will create the infrastructure and partnerships for significant job creation and economic transformation of the OEV, supplementing and strengthening the economic development efforts of the City. It will build upon the results of the implementation of the revitalization plan to create significant momentum and a flurry of activities that will help to generate employment, business development, and further investment opportunities in the OEV. The benefits will likely be spread beyond the immediate area and will help rejuvenate the City’s economic environment.
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