Farhi Holdings acquires former Greyhound bus terminal in London
The ubiquitous Farhi Holdings sign has yet to be put up outside, but another important building has been bought by the largest owner in downtown London.
In a statement to CTV News, Shmuel Farhi confirms that his company has acquired the former Greyhound bus terminal at the corner of York and Talbot streets.
âWe bought the old Greyhound bus site because we believe in the future of downtown London,â Farhi wrote in an email. âThe site will be included in our master plan for downtown redevelopment. “
Last week, the main terminal entrances were barricaded to prevent unauthorized entry or vandalism.
A Subway restaurant continues to operate from a small commercial space on the north side of the building.
Despite the significant vacancy of many of his downtown buildings, Shmuel Farhi explains that this property was purchased for a specific purpose: parking.
âCBRE will be responsible for finding a tenant for the existing 14,000 square feet until our development at 451 Ridout St. (which we have been working on for over ten and a half years) comes to fruition,â the report read. communicated.
Farhi has several parking lots along York Street, including diagonally across from the bus station.
Earlier this year, city council approved Farhi Developments’ request to rezone 451 Ridout Street for a 40-story building, but an appeal was filed by heritage advocates concerned about the impacts on Bankers Row, a site of national heritage.
Farhi explains that the bus terminal will also provide dedicated parking for a group of technology companies that are tenants of its office building at 100 Dundas St.
âThis is because we will be dedicating over an acre of land to the Harris Park expansion at 451 Ridout St.,â writes Farhi. âCurrently, this area is surface parking for our tenants. “
The town hall is launching an investigation to develop strategies that will discourage storefronts and empty offices in the center.
At the same time, the council backed a regional transport plan that envisions a new downtown area that would allow people to move between trains, buses and other modes.
So far, no location has been secured.
The terminal was brought to market after Greyhound Canada ended service to London in May 2021.