Quote:
Originally Posted by Table 5
Sure we will. There's already a contender out there from another developer.I dont see anything starting up soon, but unless the economy totally craters for the long-term, it will be surpassed within a decade at the latest.
Having said that, another 5-10 stories on Brookfield would've definitely been welcome to set it apart a bit more from the Bow.
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I am not so sure.
If we say the new tower has to be built by the end of the decade, well, then I really doubt it, but lets just say the tower only has to break ground for this discussion.
The commercial real estate vacancy is 20% (or so I remember).
I think it was mentioned that Calgary has simply over-built our downtown, even if it was still boom times, meaning the commercial real estate vacancy would have gone up without a bust.
Add the current oil bust in, I don't think any developer will be competing for Calgary's highest tower in the next decade.
Don't these things tend to go in swings from over supply and around back to over supply with not enough time in the middle ground? We just began the over supply swing.
I would love to hear the thoughts from the poster who works at colliers on this.