Quote:
Originally Posted by mctnguy
What rumors are these that you speak of?
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I've heard a couple of things. All around the fact that that site will be the future home of a new indoor stadium to replace Coliseum sooner than later.
Rumours include:
(1) Highfield Square & CN towers to be consumed for new Coliseum replacement/convention center
(2) Just the Mall would be consumed for above mentioned reason
(1) The entire property including the mall and the CN buildings will be demolished and all available land would be utilized. Part of the reasoning was it has been said that the CN buildings suffer from "sick building syndrome" and are just too old.
But on the other hand, those buildings just got a million dollar+ refit to their ventilation systems which was very recently finished. It wouldn't make sense to put that kind of money into it, and then tear it all down. - also Crombie is actively trying to lease space in those buildings, why lease out something that will just be demolished anyway.
(2) The other rumor being that they are just waiting on making a deal with HBC to end their lease, and the mall will be shut down and demolished, and used for the stadium grounds. Issue there being that HBC has a long term commitment to maintain the Bay in that location for a significant period of time, and it would be in violation of its obligations if it gave it up. The flip side is that Crombie has to maintain their end of the lease, or they get nailed themselves.
So i guess the issue becomes it is a matter they have to agree to relocate The Bay to a new location, or pay out to settle and shut it down entirely. Crombie owns a number of other properties, and there is enough land around, im sure the Bay could be accommodated. (besides, after working there a number of years ago -- 2001 ish, the current location really is not in great shape. The Bay would be better off getting out of it sooner than later)
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On another note... whats the old Tim's property being converted to? they just revised the front facia, and look to be putting some work into it... I heard it could be a Starbucks, but the colors don't match.. maybe Second Cup - or something else entirely? - I keep hearing murmurs about Starbuck's interest in going downtown somewhere.. (the old Deja Vu location being one idea, as well as the old Tim's at 1113? main) but no fixed idea on location.