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Old Posted Mar 5, 2012, 7:19 PM
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jlousa jlousa is offline
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Join Date: Jun 2006
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Again no inside info, my understanding is that the city has shown some willingness to land additional density on this site. I imagine that although there were plans on converting the top few floors to office with a central atrium, that plan is probably a non-starter due to the amount of space that would be lost. I think a likely solution would involve removing the top 3 floors and being granted enough additional density by the city to construct an additional office tower. The rents on office space in that location would be in the $45psf quite easily while retail on those upper floors would be hard pressed to lease even at half that rate. CF has hinted in recent days about what's in store for the site, I imagine we won't hear anything official until after closing in late Apr.
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