Quote:
Originally Posted by Aarongavey
I don't think many landlords build a building for 538 million dollars and then lease it out to get a present value of 316 million dollars over a 35 year lease. I did a lot of development law when I was practicing law and I just don't recall many developers coming in and saying "I have a killer deal where my up front costs are 170% of the value of my return". Usually the landlords tried to make money on the buildings they owned.
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Of the 500+ buildings the City of Calgary owns, how many turn a profit? Not a single library, aquatics center, arena, etc. Developers and government infrastructure have very different objectives and revenue streams, they are not comparable.