|? ft / ? m||15 storeys||!|
|Status: Complete||Completion: 2015|
Yep, your right on - I took a look again it's now 30-40% empty and as you said they're probably not leasing.The reason why there are relatively few vacancy reports in that building is because CF is clearing out the building so they can convert it to lofts. I think the building is half occupied right now, and will continue to decline as leases expire. Any new tenants will be short term tenants on month to month, so they can be removed when construction starts.
From my understanding, conversions are cheaper than a rebuild.
You may have a point, but I can guarnetee you a year a go or so it was just about 100% full of low cost tenants ... and I'm somewhat confused by this statement. What's a lot cost tenant ? As in they don't care if the building is updated ?They wouldn't be converting it to condos if the building was viable as office space . They made do with low cost tenants but, eventually maintenance will outstrip income. I've been in this building. It's needs a massive , expensive overhaul in the worst way. The city wouldn't be helping itself by not allowing this conversion.
Maybe utility-wise. But I've been there, too. And I didn't mind that down-home 60s/70s office-lobby exhilaration, to the point where my preferred "overhaul" would have been more restorative. (Not that a condo conversion wouldn't keep a little of that spirit, of course.)I've been in this building. It's needs a massive , expensive overhaul in the worst way.