Written by Kieran Delamont, Associate Editor, London Inc.

Princess Auto set to open largest Ontario store at Argyle Mall

Winnipeg-based Princess Auto Ltd. is set to open its largest Ontario location at the Argyle Mall this month. The London East location, which is holding its grand opening on October 21, comes in at 50,000 square feet, and is “almost twice the size of a typical Princess Auto store,” said the company’s vice-president of retail operations, Mike Kivell. “A second, larger location spells convenience for customers, as well as more products available.” The retail chain, which specializes in tools and equipment for the industrial, farm, garage and DIY sectors, already has one location — its first in Ontario — located on Wellington Road just south of the 401. “We expect both London locations to develop a bit of their own personality, and we can’t wait to see how current and new customers respond to the second store,” Kivell said. “London was our very first store in Ontario. This market has grown over the years to a size that it needs another location.”

The upshot: It’s really just a different type of toy store, isn’t it? The new Princess Auto store is set to take over the space once occupied by Toys “R” Us, which closed last year. The company has been expanding forcefully in Ontario recently. Last month, it announced another new store opening in Guelph, and earlier in the year announced that they were building a 605,000-square-foot warehouse outside of Calgary, with hopes of expanding its reach nationwide (it currently operates 55 stores in ten provinces). Though the new London store is big, it’s not even close to the biggest the brand has in store — that honour would go to an in-progress 105,000 square-foot flagship store build in Winnipeg. “Building large will allow us to showcase our products in a new way,” Kivell said. “When people walk in the door, I hope they feel that ‘wow’ factor and spend some extra time exploring everything this new location will have to offer.” 

Read more: Princess Auto

York Developments proposal for Arva spurs sprawl-annexation debate

A 900-unit residential draft proposal, submitted by York Developments for the corner of Richmond Street and Medway Road, is reigniting the conversation about growth at the edges of the city limits, where London proper meets some of the small towns that orbit it. This specific proposal — which would see 16 development blocks (almost 60 acres) of mixed residential and commercial development, including an 18-storey tower (rendering pictured) — has garnered reaction in Arva, a village in Middlesex Centre. “I’m not happy about it,” Arva resident and Arva Flour Mills employee, Sue Gilders, told CBC News London. “When we moved in 20 years ago it was a separate little town, and now London and Arva are side-by-side.” The mayor of Middlesex Centre, Aina DeViet, seems to be trying to strike a balance. The land has been designated by Middlesex Centre for development for a long while, she told CBC, and thinks that higher density development like this is a better way to go. “Look at Edmonton,” she said. “It sprawls on for miles and miles. I think we can do better than that.”

The upshot: Could this be the catalyst for the annexation discussion that was hinted at by London politicians earlier in the year? It’s not impossible. Middlesex Centre has already formally requested the city take more sewage than previously agreed to. London said no, and politicians started flirting with the annexation question, with Councillor Steve Lehman wondering if “this is time to be having a bigger discussion on the governance model?” Regardless, it was inevitable that the city’s aggressive growth in housing was going to arrive on the doorsteps of outlying villages sooner or later (just ask Komoka), and a conversation around growth versus small-town character will have to happen. “We know it’s changing, we see the buildings getting closer and closer,” said Rev. Rob Luxton, a priest in Arva. “We’re kind of holding our breath to see what happens.” 

Read more: CBC News London

Homes sales, prices fall in September as listings continue to pile up

According to the London and St. Thomas Association of Realtors (LSTAR), which released data for home sales in the month of September this week, a total of 534 homes exchanged hands in the region (the LSTAR catchment area also takes in Strathroy, St. Thomas and portions of Middlesex and Elgin counties), a six per cent decline compared to sales in September of 2024. On the supply side, a total of 1,701 new properties entered the market in September, a 13.7 per cent hike from the same period a year ago. Active listings (a total of all listing) for the month sat at 3,222, a 19.1 per cent hike from the same period a year prior. With listings far outpacing sales, the sales-to-new listings ratio plummeted to 31.4%, with a full six months of inventory now actively listed. “When the sales-to-new listings ratio falls below 45 per cent, it’s consistent with the conditions of a buyers’ market,” said Dale Marsh, 2025 LSTAR Chair. “According to the Canadian Real Estate Association, a sales-to-new listing ratio between 45 per cent and 65 per cent shows signs of a balanced market. September saw six months of inventory, which is up from August, which recorded five months of inventory.”

The upshot: For the few that are buying and the many that are trying to sell (not to mention the raft of folks sitting on their hands trying to figure things out), the average sale price is a measure that continues to be closely scrutinized. For the past several months, it’s been holding relatively steady despite the mushrooming inventory, but September saw a decline. “We saw a shift in average sales price, month over month,” Marsh said. “[The average price] was $622,805, down 2.7 per cent from September 2024, while August [2025] saw an average sales price of $651,329.” If there’s a silver lining for realtors here, it’s the Bank of Canada’s September interest rate cut (to 2.5 per cent), with many economists expecting it to cut another 25 basis points later this month. “We’re encouraged by the recent interest rate cut by the Bank of Canada, the first one since March,” Marsh said. “That may influence some buyers who have been waiting on the sidelines.”

Read more: LSTAR

Feds invest $3.5M in TechAlliance to support launch of Polaris

Local startups could be in line for more financial support, after it was announced that TechAlliance of Southwestern Ontario will receive $3.5 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The money will support the launch of Polaris, a high-impact regional startup support program, which aims to offer funding and advisory services to around 115 companies. “This is a moonshot moment for southwestern Ontario’s innovation corridor,” said TechAlliance CEO Christina Fox. “Polaris is an investment and a declaration of our ongoing commitment to a connected, powerful and globally competitive region.” The funding will be distributed to TechAlliance over the next three years, the government said.

The upshot: In funding what is essentially a accelerator/incubator program, or a beefed-up version of the i.d.e.a. Fund, the government is spreading a little bit of funding around in hopes that a few of these companies become larger successes. “If only a few succeed, we’re talking about potentially hundreds of jobs being added to the community,” said local MP Peter Fragiskatos. Fox added they are hoping to “unlock and maximize unparalleled economic opportunities and forge sustainable growth for Canadian startups and hypergrowth scale-ups who choose to build in in the greater London area,” as well as helping these companies “master their north star capacity in one of Canada’s top tech ecosystems.” 

Read more: TechAlliance | CTV News London

Signs of life in downtown office market

It’s alive! London’s downtown office vacancy rate is finally moving in the right direction, according to the latest batch of quarterly numbers from CBRE. London’s downtown vacancy rate fell to 30.6 per cent, down from a high of 32 per cent in Q1; Q2 saw a modest decline down to 31.4 per cent. “London’s overall vacancy rate has decreased for a second consecutive quarter, signalling optimism in the market,” the report reads, noting that Core Class B space saw its best quarter in terms of absorption rate since 2016. “Office conversions continue to aid the core, with another project completing this quarter at 376 Richmond Street.” City officials will be particularly buoyed by the fact that London’s city-wide performance — which saw the overall vacancy rate drop to 25.7 per cent — was entirely driven by the downtown market, which with more than 42,000 square feet of vacant space absorbed by the market, more than made up for the nearly 11,000 square feet of additional vacancy that freed up in the suburbs.

The upshot: The broad story here is that London is not totally immune from a national recovery in commercial real estate. “The Canadian office market shows signs of recovery, with the majority of markets seeing vacancy rates below pandemic-era highs,” CBRE said. “It’s becoming clear that the office market is moving towards a recovery across Canada.” The trick now will be to sustain that strength. “The coming quarters will reveal more about the depth and breadth of the office recovery and we’ll know for sure whether it’s a consolidation of economic activity in core sectors, or a rising tide that benefits multiple sectors and cities,” said CBRE Canada chair Paul Morassutti. 

Read more: CBRE | London Free Press

StarTech.com marks 40 years in business

Startech.com turned the big four-oh this month. The company, a B2B provider of IT connective accessories (think, dongles, adapters, cables, things of this nature) was founded in 1985 by Paul Seed and Ken Kalopsis and has grown from offering simple accessories like keyboard dust covers to now providing thousands of accessories that support over 200 different technologies. Most recently, the company made a major expansion into the Indian IT market, part of a wider global expansion that’s been going on for the last decade or so. “From our early days in a London basement to becoming a global leader in IT connectivity, this journey has been made possible by our dedicated team, the support of our community, and the trust of our customers,” said co-founder Paul Seed. “I’m proud that a small Canadian company has grown to become technology brand that is trusted by IT professionals and businesses worldwide.”

The upshot: Startech.com is one of those companies you really want to have in your city, even if producing IT adaptors and the like is not the flashiest business. What it is, though, is a very successful one, and the company has used that to establish itself as a major philanthropic player in the city: in 2022, it announced a $1.5-million sponsorship deal with the YMCA of Southwestern Ontario; in 2024, Seed established the Paul Seed Fund with a $2.5 million donation; the company and Seed have also donated more than $5 million to date to the United Way. “We want to make sure we’re part of the community, that we’re dedicated to supporting the needs of the community,” Seed told The London Free Press at a 40th celebration at its head office on Artisans Crescent. “It’s rewarding. I’m happy to try and make a difference.”

Read more: London Free Press | TechAlliance

Dispatch: October 3, 2025

A summary of recent business appointments and announcements, plus event listings for the upcoming week.

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