Quote:
Originally Posted by trueviking
It isn't inevitable. To me the discussion should be, how do we help it, not what do we do with it after. Cutting a hole in the middle and redeveloping it costs $100-million. No private developer will do that without huge government subsidies. I've done half a dozen schemes for it. They always fail because of that. The best option is to work with the current owner and improve what they have. Stop with the megaproject mentality and support what is there from the ground up.
All of this 'we could do this' or 'we could do that'....who is we? Is the suggestion the government pony up tens of millions to redevelop the building...that is the only way any of the fantasies happen....no more megaprojects.
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It's all going to cost money. Doesn't matter what happens.
If (and that's a huge if) the Bay continues to operate this location - they will at some point come looking for financial handouts of some description.
We (citizens of the City) need to determine at what cost the location and heritage of this building are worth it to keep. It all comes down to that. It's gonna cost money to keep the three pretty walls up while re-working the rest of the building into something useful.
And honestly, I don't think having the Bay occupy two floors while letting the building more or less waste away are in anyone's best interest, at least beyond the next decade or so. The department store ship has sailed.
Unless of course we write IKEA a blank cheque and tell them to relocate...