Quote:
Originally Posted by Rico Rommheim
So all of a sudden Quebec gets a tower as tall as the Scotia building, good enough for third tallest in the country. No Big Finance, no Big Oil, no real economical rationale, just the will of a boisterous mayor. Unreal.
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I feel I must once again mention that it is Cominar's CEO who approached the mayor with this project and not the other way around. I do not know any responsible CEO who would build an empty tower for the sake of pleasing any mayor.
Also, the tower will have multiple components and as I previously mentionned, Quebec's office space innoccupation rate, at 6.3%, was the lowest in the country in february 2015. Furthermore, the innoccupation rate drops to 3.6% in Ste-Foy, where this project would be situated.
http://www.lapresse.ca/le-soleil/aff...x-a-quebec.php
Some hotel chains, including Hotel des Gouverneurs, have already manifested their interest. After all, Cominar recently demolished two hotels in this part of town to make way for its projects so the demand for new hotel rooms is there.
However, if there is one question mark in all of this, it is the residential component. A lot of condos have been built in Quebec City in the last few years so there are many unsold condos on the market right now. Consequently, the construction of condos has slowed down this year but I don't know what the market will look like in a few years.