An Interest Free Loan from the City of London to Improve a Property in the hottest areas in London O

It sounds too good to be true, but if you've been looking at properties in the Downtown, OEV (Old East Village), or SoHo areas of London Ontario you should really take a look at this program.

What a great way to get a head start on earning some equity on your purchase and helping these neighbourhoods become even more desired- WIN WIN as a property owner.

Like any government sponsored initiative, there is bound to be SOME red tape, but I would love to hear from anyone who has received one of these loans and what the process was like (AND before and after pictures PLEASE).

Here are the basics:

TYPE OF IMPROVEMENTS:

To the Facade (exterior you see from the street) of the building(s), subject to certain guidelines.

THE MONEY:

Interest free loan, amortized over 10 years.

AREAS:

Downtown

SOHO (South Of Horton- the area around the former South Street Hospital)

Old East Village

AMOUNT:

Up to 50% of the work to be done, or $25,000 (some exceptions apply).

For all the details check the city website here.

If you are interested to learn about available properties in these areas that may qualify for this incentive, CONTACT ME today!