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Bluevale Capital Group has completed London’s first office-to-residential conversion at 376 Richmond Street, turning a former law office into 23 affordable studio and one-bedroom apartments in less than a year.
The $7M project, supported by $1.1M in city grants, delivers rents ranging from $990 to $1,400, below London’s average one-bedroom cost of $1,700. The development also includes a pilates studio, fitness area, storage lockers, and a party room.
“This proves housing can be accelerated,” said Jefferson Huang, Principal at Bluevale Capital Group and Western University graduate. Expedited city approvals and in-house construction made this one of the fastest office conversions in Canada.
This project supports London’s downtown revitalization, converting over 18,500 sq. m. of vacant office space into homes. Mayor Josh Morgan called it a model for other cities.
Bluevale Capital Group is also pursuing similar projects nationally, including an 18-storey, 200-unit conversion in Calgary.
Bluevale Capital Group has transformed 376 Richmond Street into 23 affordable studio and one-bedroom apartments in under a year, marking London’s first office-to-residential conversion.
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We are thrilled to present a keynote speech by our managing director, Jefferson Huang, at Western University.
Bluevale Capital Group has acquired Mariner Watch Apartments in Maple Ridge, BC, marking its second major 2022 acquisition, supported by financing from KingSett Capital, as part of its strategic Western Canada expansion.
