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Originally Posted by SebC
If they've started soliciting designs as the article stated, wouldn't they have decided on the fate of the parking lot?
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Canadian Commercial Operations, says he has already launched a competition with a select group of local and global architects to provide a site plan that may include a single or multiple buildings.
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Yeah, of course they're going to consider everything, but they've got different designs, one for multiple buildings, if the multiple buildings scenario goes - like EAP, they don't necessarily have to do it all at once. Bringing on a million sq. ft. of office space certainly doesn't have the diluting effect it once used to in the market - but it's still a lot of space. 2.8 is a ton of space. Additionally that parking lot cash flows half decent., no hurry to bring it down when Calgary already has a shortage of parking. As much as I'd love to see a gargantuan full block development it's a lot of construction to finance. As well Brookfield would want to bring on that many sq. ft. slowly (well not slowly, but...) so not to cannibalize their current buildings.
It would also be good to watch the backfill of all ECA/CVE space and the EAP buildings.
Have you been in Edmonton recently? That Epcor centre is a monster for the Edmonton market.