Quote:
Originally Posted by HardTruth
I agree it will move some developers to step up their game but in general one new office building can't fix all the issues here.
If this was a brand new company coming in, building an HQ and hiring 1000 workers it would be a different story.
In this case we have an office consolidation which will leave many vacant buildings in its wake:
source = exchangewire
This will not help (at best it will be a neutral transaction) our office vacancy issue which
Turner and Drake sum up well:
We have to get some new blood into the system, the IBM announcement is actually better news than the IOL HQ in this regard.
Don't get me wrong the IOL HQ is a great thing for Uptown but its not a silver bullet solution like some people think. We are way too quick to jump onto those type of bandwagons here "Eider Rock will save us!" "Energy East will save us!".
We need to focus on the smaller businesses which are the real driving force of growth, not boom and bust style mega-projects.
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I tend to agree with you but I don't want to under estimate the impact this will have. Yes, there will be vacancy in the buildings they currently have but I see the consolidation as having a snowball effect on development in the core which is exactly what plansj is looking for. Many of these people are currently in buildings just far enough away from the core to be inconvenient....moving to King square will hopefully mean the need for services like grocery stores etc. It will also mean (I hope!) the need for quality housing uptown as once the HQ is built and gentrification continues, more and more people will want to live in the core.
This gentrification should spin into more and more services from retail to restaurants etc being needed.
I recognize that this is probably an over simplification of this but although it certainly is not a silver bullet it will restore hope which in turn will spur growth. In my opinion, attitude is part of the problem we have in Saint John. Is it the whole issue...no.....we still have many other issues to deal with but this will be a big step forward.
Regarding energy east, I don't believe for a minute that this is the saviour either but will it mean that eider rock or whatever it will be called will be built? Don't know but maybe it means an expansion of the existing refinery...more staff etc...you see my point.
I also have an opinion on the office space vacancy rate. Yes, we do have a ton of empty space...a lot of it class c which typically means it's a dump. If the stars align maybe just maybe all of the things I have mentioned will happen in some form and there will be a need for office and retail space.
Will any of this happen? Who knows. I certainly don't but I do know that if we do nothing, nothing will happen. Sitting here with our fingers crossed isn't good enough. We must have faith as we have been disappointed enough over the years...by industry and government alike.
Please don't take this as a criticism Hardtruth in any way....you have voiced very valid and real facts. I just wanted to add to your comments and say we can be more than we are....it all starts with an idea!
Here's hoping I'm right....time will tell.