Posted Jul 31, 2012, 8:22 PM
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Ferris Wheel Hater
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Join Date: Jun 2006
Posts: 8,373
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The city wouldn't allow much more additional space then already exists there, remember that this building is already roughly the same size as Park Place. Also note that Sears was paying very little in rent, while the new tenants will be paying market rates. Having a Nordstrom like tenant will also allow CF to increase rents in the rest of Pacific Centre more then if it remained a Sears. Even then I imagine the break even point on this 15-20yrs out.
Leftcoaster, do you know and are you at liberty to say if during renovations the existing sturcture will be fortified allowing for a tower to potential be built above the exisiting building if a future council is willing to increase the FSR onsite.
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