The loans below are available to businesses and property owners located in the Downtown and Old East Village Community Improvement Plan areas (see figure one below). Please email CIPincentives@london.ca for more details.
- Façade Improvement Loan - A loan from the City to improve building facades, including upgrades to windows, doors, brick repair, painting, lighting, and signage that is affixed to the façade. The loan will cover 50% of the cost of the improvements — up to a maximum of $50,000. This loan can be paid back at 0% interest over a 10-year period. In certain areas, a portion of the loan may be forgivable.
- Upgrade to Building Code Loan – A loan from the City for improvements to the interior of your building, including upgrades related to plumbing, electrical, HVAC, mechanical, roof, fire protection systems, and other Building Code related work. The loan will cover 50% of the cost of the improvements — up to a maximum of $200,000. This loan can be paid back at 0% interest over a 10-year period. In certain areas, a portion of the loan may be forgivable.
The grants below are available to businesses and property owners located in the Downtown and Old East Village Community Improvement Plan areas (see figure one below). Please email CIPincentives@london.ca for more details.
- Rehabilitation and Redevelopment Tax Grant - This program rebates a portion of the municipal tax increase that results from the rehabilitation of an existing building or construction of a new building. A percentage of this tax increment is rebated back to the property owner each year for ten years.
- Residential Development Charges Grant - This program is aimed at encouraging private sector investment in Downtown and Old East Village residential property development. A grant equal to a rebate of Development Charges (DCs) is provided for residential units constructed. DCs are required to be paid up-front at the time the building permit is issued. This program grants back a portion of the residential DCs paid by the applicant over a 10-year period until 100% of the residential DCs have been repaid to the applicant.
Figure one
Office-to-Residential Conversion Grant Program - This program provides a grant (functioning as a forgivable loan) to eligible office-to-residential conversion projects equal to the amount of applicable development charges based on the number of bedrooms per unit and the total number of residential units created, up to $2 million per property.
Email CIPIncentives@london.ca for program details and application form.
Staff are also available to answer questions or meet (in-person or virtually) to discuss.
Office-to-Residential Grant Program Frequently Asked Questions
How does it work?
- Contact the Core Area & Urban Regeneration (CAUR) staff to discuss the grant program and receive the application form.
- Complete the application form with supporting documentation and submit for review to CAUR. Applications will be accepted at the same time an application for a building permit to undertake the project is submitted to the Building Division. Incomplete grant applications will be returned to the applicant.
- CAUR staff will review your application and if approved, issue a letter outlining the City’s commitment to providing an Office-to-Residential Conversion Grant once the building permit has been issued. Applications may be waitlisted if the number of applications exceed the available funding.
- The grant will be issued to the applicant once:
- The building permit is issued
- The grant agreement is signed
- The lien is registered on property title as security
- The property taxes are in good standing
- Any outstanding Community Improvement Plan loans related to the property are in good standing
- The lien is discharged from the property when the final building permit inspection has passed.
Who is eligible to apply?
A property owner who owns a vacant Class ‘B’ or ‘C’ office building located in the Downtown Community Improvement Project Area (see map).
What is the maximum grant amount per building?
The maximum grant is $2,000,000 per property. The grant is subject to available funding and not guaranteed.
Grant calculation example:
*2024 grant value matches 2024 Development Charges (DC) rate
| Unit type | Unit count | 2024 grant calculation* for apartments with <2 bedrooms | 2024 grant calculation* for apartments with >=2 bedrooms | Total |
|---|---|---|---|---|
| Bachelor | 5 | $20,777 | $103,855 | |
| One-bedroom | 45 | $20,777 | $934,965 | |
| Two-bedroom | 40 | $28,155 | $1,126,200 | |
| Three-bedroom | 10 | $28,155 | $281,550 | |
| Total | 100 | $2,446,570 | ||
| Total grant | $2,000,000 |
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