Posted Jul 1, 2008, 3:34 AM
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It's Hammer Time
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Join Date: Mar 2004
Location: Hamilton
Posts: 20,303
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The $25 million is the cost to just keep the building standing for decades more. I don't think many grasp the true cost just to renovate the building. The cost to repair goes up as the building gets neglected over the years.
A bulk of the cost will be gutting floors 3 and up and redo it all entirely over again, floors have collapsed on top of each other. Arcade repair (this is where I would keep my eyes on - gut and redo the arcade or repair it?) and exterior repair, the terra cotta alone is probably responsible for a few million to repair.
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