Well, part of the deal to sell the York was to construct it in a certain amount of time - as the article states to begin within 1 year of occupancy of the office tower. Maybe there's a stipulation that they would have to sell back the land to the City if they failed to comply? Not sure - but that type of stipulation, for example, with the development of The Bridges (formerly the general hospital site) is pretty commonplace in Corporate Properties' contracts.
|