Chinese_T said:
You're right, I found a rendering of the first phase. Looks like that second tower might stay an empty lot for a while.

Canada_Mortgage_and_Housing_Corporation_Government_of_Canada_Pro-1.jpg
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Awe what?!? Damn it.
 
CBBarnett said:
Didn't Oliver end up doing the same thing? Where they only decided to build the parkade for the second tower a few years after the first one got started.
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Oliver was going to be Place 10, a twin office building development that stalled and then was cancelled. It was resurrected by the same developer as what is now Oliver. The excavation of the second phase was already several meters deep and stayed that way for the several years that the entire project was stalled.
 
What possible savings could there be adding another 40 million dollars on the budget for a future phase?
 
maestro said:
What possible savings could there be adding another 40 million dollars on the budget for a future phase?
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Risk mitigation? Opportunity cost and time value of money? Unnecessary maintenance? Current material costs?

$40M sounds pretty generous (what would it cost them to build it now and leave it for an indefinite period before building up?)
 
It was a generous guess on how much it would cost to built the parking for the undetermined second tower. The price per square foot will not vary much between one basement or two. An interim commercial parking permit is unlikely. It's debt without a revenue stream until the second tower is built.
 
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