SoHo housing project ready to rent first affordable units
Zerin Development Corporation is part of a group of six non-profit developers who have been working since 2022 to transform the Old Victoria Hospital grounds into a massive housing project with 690 units — including 410 affordable units and 280 market-rate units.
"It has the potential to be something really special," said Greg Playford, the London Community Foundation representative with the Vision SoHo group.
What will be the first finished building, Zerin Place, built by Zerin Development Corporation, is located at 370 South St. and features 119 units in total, including 60 affordable ones, all geared toward seniors.
The market-rate units in Zerin Place start at $1,695 per month for a one-bedroom apartment. The model units will be available to view later this month and will be move-in ready in the fall.
Playford said he expects the affordable units to go quickly but directed those interested in applying for them to check the new Village Soho website.
"We could have built 800, or probably 8000 affordable units, and they'd be in demand," Playford said. "We're just touching the surface, but it's one step at a time and I think we're making something really impactful."
Now in the final stages, the Village SoHo project has overcome obstacles. Construction was delayed in 2023 when Indwell, one of the other non-profit developers, was forced to scramble for funding. Indwell is redeveloping the former War Memorial Children's Hospital and Victoria Health Services Building into supportive apartment units.
Developers lay out their vision and a new timeline for old hospital lands
Despite past difficulties, Playford said everything is on track.
"As complex as the project is, it's been a great success time-wise," Playford said. "We are on schedule. We are on budget."
A mixed-income community
Sister Joan Atkinson chairs the board at London Affordable Housing Foundation (LAHF), another member of Vision SoHo Alliance. She is disappointed that Village SoHo won't be providing more affordable units, but she believes it is beneficial to create a mixed-income community, she said.
"If everybody is at the very lowest level of income, nobody is able to do very much to help each other," she explained.
Atkinson also added that the mixed model is common in affordable housing across Canada. There are a lot of costs in a project like this, she said. Some non-profits, including LAHF, get fewer subsidies and often need to pay back government money over time, and charging market-rate for some units can help cover some costs.
Playford agreed, pointing out that it's the market-rate rent prices that help offset the affordable units. He also saw merit in the social aspect.
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