[ranchlandsselling]

Originally Posted by SebC

Check the article linked on page three, (http://www.calgaryherald.com/busines...458/story.html). Brookfield applied for 1.2 million, but that was before they were able to acquire the whole block, so now they could develop something up to 2.8.

Yeah, but they're not sure what they're doing with the parking lot portion just yet. It's the biggest private parking lot in Calgary, could just be continued as a parking lot for now and developed later on. Brookfield could use the lot as a lot for plenty of their other projects and lease out the spaces on a more permanent basis than the daily parking that was previously supplied by the lot.

Additionally they're locked into their financing on the parkade for at least a year IIRC, can't demolish it for awhile or without approval from their lender.
That lots got an interesting history and has been near forclosure a few times.