Quote:
Originally Posted by Bigtime
That rumour has been around since before the Bow was announced, Imperial owns vacant land right in the core (at 5th Ave & 4th St SW). But most of the info is that Imperial keeps the purse strings pretty tight, so it would be hard to see them go out and build an iconic tower that would be taller than the Bow (versus a big floorplate tower around the 600-700' height).
The option that makes the most sense is if Brookfield is courting them as a major tenant for a re-worked Herald Square proposal (7th Ave & 2nd St SW), and then it could be Brookfield that decides to go for it and built a major tower on their land.
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That rumour also comes around every time their lease is up for renewal in their current space, ditto for the EAP2. It's a good bargining chip to have in your back pocket. "We own such and such and can just develop our own building". "We might move to EAP2". etc.
Additionally there's a couple landlords on that block that would kick up a fuss with respect to what Imperial needs to do in order to develop that site. Don't know that they'd win - but it wouldn't be that simple.