Comment 73665

By Robert D (anonymous) | Posted February 02, 2012 at 14:47:36

"About seven downtown properties were then explored, as well as other properties elsewhere.

Properties that were small, entailing the building of many floors, were discarded because of the additional cost of such buildings.

From this process, the West Harbour lands were seen as the most desirable as there was sufficient space for our requirements and it could help down-town renewal. However, the expense to clean up the environmental concerns placed this outside the financial capability of the Board."

So...fromt his, it sounds like you were looking at purchasing properties, rather than leasing. Was there a reason for this?

One would presume that leasing space from a landlord, who would likely be willing to rennovate to suit the board, rather than leaving the space vacant (Stelco Tower, etc.) would be cheaper and better for everyone.

Is there some cost savings in owning your own building that I don't know about, other than neglecting needed repairs as seems to have been done with the current building?

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