Quote:
Originally Posted by IanWatson
Last I saw, downtown office vacancy rates were pressing towards 20% (and the Nova Centre isn't yet online). I don't think that's necessarily a good or bad thing for the city (though it's probably pretty bad for people who were planning to build office space), it's just part of the cycle. Historically, Halifax has office cycles that are approximately 20 years from peak to peak.
We'll see some buildings converted to other uses (e.g. The Roy, sort of), and we'll see some owners cut their rents to the bone, which is ultimately good for smaller businesses and startups.
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I could be wrong but I thought those latest numbers, 20%, included the Nova Centre space even though it is yet to go online.
On the subject of the Scotia Square Barrington addition, they have all the curtain wall glass on site or across the street on the parking lot. Sorry no pics though, my phone died last week so it will be a few weeks before I get it fixed and pics resume.