Credit Suisse and SwissReal Group Canada had their rezoning application approved for the Exchange development in November, and are preparing their development permit application for submission in March 2013. Upon approval, the 31-storey office tower looks to break ground in summer 2013 with substantial completion by spring 2016.
looks like she will go on spec alone!
__________________ Quote of the Decade on SSP: "what happens would it be?" - argon007
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
Guys they are looking to break ground 2013, they doesn't mean they are going to. If all goes well that would be their date, but that likely means they still need to find a tenant. And remember, it's a broker report, their information is sketchy at best.
Going on spec in this current market would be insane, especially for a swiss bank with a lot of eyes on its risk profile.
Don't they have to gut/demolish most of the historic building first anyways? or are they just going to shore up the foundation and superstructure of the existing building to support this beast on top?
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Mohkínstsis — 1.6 million people at the Foothills of the Rocky Mountains, 400 high-rises, a 300-metre SE to NW climb, over 1000 kilometres of pathways, with 20% of the urban area as parkland.
Don't they have to gut/demolish most of the historic building first anyways? or are they just going to shore up the foundation and superstructure of the existing building to support this beast on top?
They're just keeping the facades of those buildings.
They are definitely the wild card, mainly considering they are widely unknown in the marketplace.
Big company globally but not much to go on in Canada.
That said I don't think they are stupid. Building a quarter billion dollar project on spec is a terrifying proposition in the best of times, with the amount of new product coming to market and a medicore economy I just can't see any scenario that would cause them to move ahead with this project, unless there is some major yet unannounced factor.