Approve The Q.V. on the Park
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Located on the corner of Wellington and Wolfe Street in Downtown London, the Q.V on the Park is a mixed-use development, containing a ground floor café and residential condominiums above.
We the residents of London, Ontario demand City Council approve this proposed development.
The Q.V. on the Park will bring a host of benefits to the London community to ensure growth and prosperity for the future:
- According to John Fleming, the City of London's Managing Director, Planning and City Planner, "any time there are proposals downtown that allows for towers, it is positive. It means more feet on the street, a 24-7 downtown, and business for restaurants, shops and entertainment venues in the core.”
- Tax Revenue: Auburn Developments’ proposal will generate $1 million annually in property tax revenue to help fund vital city projects and services. This new revenue will aid in maintaining low taxes for residents across the city and the costs of the projected tax increase and project based funding in the next two decades.
- Jobs: Approximately, hundreds of construction jobs will be created over two years. Additionally, approximately 20-25 full and part-time jobs will be created by the café space. Overall, the project as a whole will bring hundreds of new jobs to the City of London.
- Expanding Customer Base for Businesses: With an estimated 280 to 325 residents, The Q.V. on the Park represents a large new customer base for businesses in the surrounding area. The residents of Q.V. on the Park will spur economic growth downtown with an estimated $1.5 million in consumer spending annually. Further more, a downtown condominium will attract a cliental that wants to be able to enjoy a downtown lifestyle providing quick and easy access to Richmond Row’s amenities.
- Retail supply downtown: Downtown London's population relative to London's total at 3.5% is much lower than the average of 13% across comparable cities. When measuring London's total downtown retail supply as a proportion to the number of residents within the same downtown boundary, London appears to be over-supplied relative to the other municipalities. This causes too much internal competition and cannibalization of retail uses and as a result higher turnover ratios. There is a 180 retail square feet per resident ratio in the downtown where as the ratio in Waterloo is 52 square feet per resident and 24 square feet per resident in Guelph. This indicates that we need more people living downtown.
- Increase property values: This project will make downtown living attractive to affluent residents and in turn will increase property values. As property values increase, so does the amount of revenue city hall generates from property taxes. Dan Van Houtte, chief executive of Metrix Realty, which does appraisal work says, highrise and residential development downtown can increase property values.
- Attracting and Retaining Talent: The tech sector currently has over 1000 job openings that are sitting vacant. We know based on research that the individuals these tech companies are trying to attract are looking for the kind of lifestyle The Q.V. on the Park has to offer. This project provides distinguished living in a prominent core location, convenient to work, shops and restaurants. Living in the heart of the City invokes a tangible vitality. This form of living enables participation in urban activities that can’t be imitated. Peaceful strolls or stimulating nightlife, shopping, restaurants and festivals all provide a backdrop for an exciting lifestyle. The prominent location enables residents to enjoy the City’s open space jewel: Victoria Park for a morning stroll, leisurely gazing of others enjoying passive activities or participating in the numerous festivals throughout the summer season.
- Solving the food desert problem: Urban food deserts pose financial, health problems. People end up shopping at convenience stores when there isn't a grocery store. Prices are on average 1.6 times higher. It's not just hurting their pocket books, but the food purchased at these stores is often less nutritious than what is available at the supermarket, increasing the odds of heart disease, diabetes and cancer. This indirectly increases the costs of our health care system and ultimately our taxes. The grocery business doesn't work on, 'If you build it, they will come,' but 'If you come, they will build it. The only way a supermarket will invest in our downtown is if more people live there. An additional 325 residents as a result of this project will certain help get us there.
- Compact growth: The more London grows out traditionally the higher it's going to cost taxpayers. A very compact form of growth can save billions of dollars in infrastructure (roads, solid waste, communications, water management, signage and markings, electrical systems, common facilities etc) costs and tens of millions of dollars in annual operating costs compared with a highly spread-out form of the same growth over the next 50 years.
- Save our prime agricultural land: One of London’s biggest competitive advantages lies in the agricultural sector. London and the surrounding region has some of Canada’s best farmland. Only 5% of the Canadian land mass is classified as prime agricultural land (0.5% is classified as Class 1). About 80% of the land London annexed in 1993 is considered prime agricultural land. So we as a city have an opportunity to strike oil but in order to do that we need to make sure that we grow inward and upward. By 2035, our population is expected to increase by 77,000 people. This project aids in eliminating the risk of residents living outside of the urban growth boundary lines and ultimately paving over our prime agricultural land.
- New Housing Variety: Adding variety to the existing housing stock is key to attracting and retaining a talented workforce. Without convenient housing, those looking to move to the area may decide to locate elsewhere, causing businesses to follow. To promote growth, a condominium will help to attract the next generation of home buyers to London.
- Promotes Walkable Communities: The Q.V. on the Park offers many opportunities for car-free living. With on-site parking, bicycle storage, transit, many recreational and cultural amenities nearby, this proposal promotes a vibrant lifestyle where residents are easily able to walk to all amenities the core of London has to offer without the known hassle of finding parking.
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