LONDON, ONT. — The Ontario government recently announced it has sold the 16-acre former London Psychiatric Hospital on Highbury Road in London, Ont. to Old Oak Properties for $17 million.
The City of London has approved a plan for the redevelopment and reuse of the property which includes a large mixed-use community, said a Jan. 17 release. It was reported in local media that Old Oak intends to redevelop the property and build over 3,000 homes including townhouses, mid- and highrise towers, seniors living and student residences as well as commercial spaces.
There are 23 buildings on the property, including the original psychiatric hospital dating back to 1884, noted the release.
Four buildings including an infirmary building, a Chapel of Hope, an assembly hall and a horse stable as well as a tree-lined boulevard are considered heritage and will be protected through an easement with Ontario Heritage Trust.
The sale was completed by Infrastructure Ontario, which has managed the property since St. Josephs Health Care moved to its new facility in 2014.
“Our government is delivering on our commitment to implement a more efficient and responsible process for selling buildings and property no longer needed to deliver government programs,” said Minister of Government and Consumer Services Bill Walker in the statement.
“This sale demonstrates how reducing red tape is helping to make life better for the people of Ontario by saving millions of dollars in maintenance costs and generating significant revenue for the province.”
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