Quote:
Originally Posted by Changing City
The rent for the 86,000 sq ft at Crossroads was initially negotiated at $4,002,650 a year. [ City of Vancouver report] So ten years would have been $40m, which wouldn't have built much of anything.
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A new building can last for 100 years or more, and in 10 year's the rent won't be 4mil: might be doubled. Also, the Crossroads space isn't the only rental space they have in the City. There are numerous all across town.
Also, if they can put commercial space to link it to the skytrain station, like a shopping mall, they can make good money out of their own property.