Quote:
Originally Posted by Haliguy
Joe Ramia has said he has commitment from fincancial service companies to move into the financial service centre. He said if he wouldn't be building it if he didn't. I think a lot of it has to do with a lack of class A office space that has kept companies away.
I agree I think the downtown needs office + residential + retail to be healthy
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The lack of space is not an issue, the issue is these companies are not looking here like they were prior to 2007-2008 financial sector melt down. Will that change with time, maybe, but i would be very "surprised" that only one developer has these tenants all willing to sign up. With organizations of their stature they would require their respective brokers to at least complete a market anaylsis and look to make offers on multiple premises in order to achieve the best deal. This is industry norm.
If there was a storage, and if there was such "demand" a number of the approved developments, International Place, Waterside Centre, TD expansion, existing buildings like Purdys, 1801, Founders Square etc would be well have equally competitive offerings. Who can't say that International Place would create the same atmosphere as say Nova Centre with its connection to Scotia Square, Hotels, and existing and established commercial buildings?
I agree completey with the comments that the Nova Centre site should be residential instead of office. I've been a long supporter of this site being that as it will do more for the CBD then the actual convention centre ever will. The centre will only provide spikes in activity, where as people living and working within the CBD will be more steady, allowing companies to make sound business plans/investment. A retail sector dependant upon tourism and or event spin off will not create a decent mix of retail tenature as the business case will be to unpredictable to make a sound decision on the required investment. Like many nationals retailers this board talks about being ideal for the Spring Garden Road area, many of them won't invest there as the costs do not justify the investment as there is no enough required "residential" density to support their business case.