Quote:
Originally Posted by trueviking
I'd like to know where this mythical $111 million to get it 'up to code' number came from. What does that even mean? It was a functioning department store until a year ago. It doesn't violate building code any more than any other heritage building. The stair handrails are too low, i guess.
I wouldn't suggest that the budget won't increase. Its a massive project with all kinds of unknowns, but there are reasonable people putting the budgets together. CMHC doesn't back spitball projects.
The other thing to remember is that budgets can define different things....does the $130 include tenant fit-up for the spaces?.....as an example.
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According to this
CBC article it was Cushman & Wakefield who said it could cost up to $111M to bring it up to code. I'm not sure exactly what they were referring to, but I'm sure they didn't just pull the number out of thin air.
Regarding the tenant fit-up, isn't SCO proposing that their organization is the tenant as well? Wouldn't that imply that the project would need to include fit-up?
I know it's difficult to capture those nuances in a news story, so I'm just curious how all of these pieces are coming together behind the scenes.