Quote:
Originally Posted by OldDartmouthMark
As you and the other posters have pointed out, this sounds like the most reasonable scenario.
My brief moment of panic (lol) has passed.... 
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Yes, they are both great buildings and I bet they could be easily converted to other uses.
I think part of the root problem here is how these things are presented in the media. Any time an institution wants a new building it's implied that the old one is falling down and about to be demolished. This isn't typically true unless there's been a lot of deferred maintenance. The solution there is to do the maintenance and properly account for its low amortized cost (the media just report "millions of dollars", but is that over 5 years? 20 years? A $10M maintenance bill for a major public building with 20 years of deferred maintenance is small). Very few buildings have unresolvable problems. Most can be shifted onto other uses. Having more affordable older buildings is a huge benefit for urban economies; young companies can't afford shiny new buildings so they need the older buildings. Volta Labs is one good example of this in Halifax. They are (or were) in the old TD building and they want to take over the old library, which no doubt some councillor said had to be demolished for a park because it didn't happen to be suitable for expansion.
Another thing to keep in mind is that it sometimes makes sense to build new buildings for these public institutions if it attracts major private donations from people who wouldn't otherwise be interested. Or even public dollars from the federal government that are only available for "sexy" projects.