Quote:
Originally Posted by zalf
"The Property offers an inherent value backstop through a feasible and
compelling multifamily redevelopment opportunity. The Vendor has
completed a feasibility study for future RMFL density options, buyers
will have access to the study for review in the data room"
That is modestly encouraging.
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Still depressing.
Right now it's leased as a Bell MTS call centre. I can't imagine a situation where you'd displace a well-paying tenant and tear down a purpose-built facility to get into the (soft) high-density residential market on that site.
So, I'm guessing the redevelopment 'opportunity' is more like the backup plan if Bell MTS decides to close down the call centre and there's no replacement tenant for the space.
So to get multifamily residential on this site, I'm guessing what would need to occur is a giant mass layoff. Not great.
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