Quote:
Originally Posted by buzzg
RWB is taking up two floors of 225 Carlton for their new residence, starting next year some time. Sounds like something will be happening with the actual RWB building eventually, but plans are very secretive and early right now.
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Called both these quite sometime back.
My prediction is the RWB residence and school both end up being part of the Archdiocese tower whenever that happens. Basically selling their existing buildings to True North for the costs of their part of the new building. The Achdiocese sells their building on Pembina and gets funds to house current and retired priests and other religious folks (nuns, monks, etc). With perhaps expanded role of affiliated religous orders like Development and Peace. Heck they could even open a Catholic high school, seminar or university in the space, or even all three.
Reality is each parish does not have a lot of liquid cash, even at the Archdiocese level there may not be a lot of available cash but on a global scale the access to capital is second to almost none and if their is internal support for the project funding won't be an issue. ie the project will self fund all construction and development costs split over the next 20 years. With support the Catholic church could easily self-mortgage the project internally. The key is getting that
internal buy in.