There are 14 suites in the building. As they are, they wouldn't fetch much, I expect that the redevelopment company plans either to level the building or do some SERIOUS renovations to it before they are ready for sale. There's an empty lot immediately beside this building that was also recently purchased so it stands to reason that they are planning on building something much bigger.
I would guess that they intend to renovate/build as soon as possible, which is why they want everyone out so quickly. They can wait for permits while the renovations are being done and could conceivably begin selling before the building would have even been vacated if they played nice and gave the one-year notice.
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