Heritage advocate fears 40-storey Farhi-backed tower could ruin Banker's Row

A heritage advocate says a proposal by Farhi Holdings to build a 40-storey tower on Ridout Street could cause Banker's Row to lose its designation as one of London's four national historic sites. 

The proposal to build a 280-unit tower on Ridout Street near Queens Avenue — next to one of three heritage-designated yellow brick buildings along Banker's Row — comes before the city's planning committee on Monday. 

The proposed tower, located directly across Queens Avenue from Museum London and kitty corner to the courthouse, would include a mix of commercial, residential and office space overlooking the Thames River and Harris Park just south of Eldon House. A city staff report is recommending approval of the zoning and official community plan amendments needed for the project to proceed. 

Farhi Holdings president Jim Bujouves said the tower will bring much-needed density and housing to London's core and add an attractive, modern building to the city's skyline. 

"The planned development is intended to create a landmark, mixed-use development for London," he said. "This will re-develop and intensify the property in a manner that still maintains sensitivity to heritage buildings." 

While the footprint of the tower is small, it will be located right up against 451 Ridout St., one of three heritage yellow brick buildings on Ridout that form the Ridout Street Complex. The buildings, often referred to as Banker's Row, are some of London's oldest surviving structures, dating from the 1830s. 

The buildings were the subject of a conservation fight in the 1960s, eventually earning national historic site designation in 1966. Labatt Brewery used the buildings as their head offices until the early 1990s and 435 Ridout St. was rented out as law offices before a fire in November 2019.

Kelley McKeating is the local president of the Architectural Conservancy of Ontario. In her four-page submission to the planning committee she argues that locating the tower between Banker's Row and the Thames River raises a number of concerns. 

Renderings show the new tower butting up against the west side of 451 Ridout St., which lies furthest to the north of the three heritage buildings.. 

"It's absolutely glued to it," said McKeating. "In the renderings it looks like that building is being almost swallowed up by the skyscraper."

McKeating says building the new tower so close to Banker's Row could cause it to lose its national historic site designation.

The designation of national historic sites is overseen by the Historic Sites and Monuments Board of Canada. CBC News called Parks Canada, the ministry that oversees the board, for comment about the potential of national historic site status being revoked but the ministry said it needed more time to respond. 

Bujouves said it's not a concern because the developer has met all heritage requirements and took the added step of agreeing to a heritage easement assessment that "ensures the integrity and sustainability of the heritage attributes is maintained on the property in perpetuity." 

McKeating also raised concerns about flooding in her submission, as Harris Park and that stretch of the Thames River is subject to spring flooding. 

Farhi Holdings has made three applications to the Upper Thames River Conservation Authority, and the third was approved in May 2018. It requires the developer to undertake work along the banks of the river to mitigate the flood threat. 

There are more than 50 written submissions about the proposal filed to the planning committee, which will discuss the project at its Monday 4 p.m. meeting.