1 · Who he is
The landlord of the empty core
Shmuel Farhi is the president of Farhi Holdings Corporation, which owns and manages more than 4 million square feet of property across Ontario, including over 2 million square feet and roughly 135 sites in London. Reporting has tied Farhi Holdings to the majority of downtown London's vacant commercial property, in a core where commercial vacancy has hit 25%.
Sources: The Globe and Mail, "London's landlord" · CBC News on downtown vacancy
2 · What the city does about it
It pays him
Under the Office-to-Residential incentive program, the city pays up to $35,000 per unit, with a possible $15,000 top-up, to convert vacant offices into housing. Farhi Holdings is a major user of the program: the 685 Richmond Street project alone is in line for roughly $1.4 million in city incentives, to convert a building he owns.
Sources: CBC News on the conversions · Spring Magazine on the incentive math
3 · What the city won't do
The tax that never happened
The policy that would most directly pressure vacant commercial buildings, a vacancy tax, has been waved off, citing 2024 staff reports that administration would cost more than it collects. In January 2026, the incumbent Ward 2 councillor used his social media to discourage vacancy-tax advocacy.
Source: Spring Magazine, "Why London needs a vacancy tax" (Jan 2026)
4 · The receipt
The maximum donation
Those are the documents. Readers can connect the dots themselves.
5 · What Zack would do
Fill them or sell them
London does not have the power to levy a commercial vacancy tax, but that is not an excuse for inaction. Zack will use every tool council actually holds to pressure vacant properties to be filled or sold to someone who will fill them.