Posted Dec 7, 2017, 2:18 AM
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I am the law!
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Join Date: Sep 2002
Location: Toronto+
Posts: 22,855
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It's not the same situation. First. Quebecor is not a tenant. They don't pay rent. They are in charge of managing the property. Second. Quebec chose to speculate on an arena built. Sure, Quebecor was involved in pushing them down this path hence the aforementioned shadiness. In Edmonton, a wealthy company owned by one of the richest Canadians went looking for corporate welfare and got it by seducing the city with an entire entertainment district and that seduction is still happening today.
How much has One Properties contributed to downtown revitalization? It was suggested just a few posts ago the city covered the upgrades to publicly owned spaces. The towers aren't revitalization. They are gentrification. One Properties and Katz are making a fortune from the developments and also selling to real estate funds that don't give two shits about Edmonton.
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