Comment 74252

By RenaissanceWatcher (registered) | Posted February 12, 2012 at 08:29:51

The Hamilton Wentworth District School Board would carry with it a massive amount of leverage if it entered Stelco Tower leasing discussions with Yale Properties

Everybody, including Yale Properties, knows that the HWDSB already has a Plan "A" site at Crestwood and that it would take a very attractive deal for them to move away from Plan "A".

Equally important is that the chances of another single government or business entity coming to Yale Properties with an interest in leasing up to seven floors of office space at Stelco Tower in the foreseeable future are very remote.

It would be very surprising if Yale Properties did not offer a sweet lease deal at something less than the advertised base rent which could begin to make more economic sense to HWDSB than continuing its pursuit of Plan "A".

One other potential benefit to the HWDSB is that, if the lease and the desired upgrades to the lease space at Stelco Tower could be achieved within the next several months, perhaps the HWDSB could move directly into Stelco Tower from their existing building without having to make a temporary move elsewhere.

Maybe the economic benefits of an improved lease deal and the possibility of a direct move would add at least 0.21 points to the site evaluation score of Jackson Square/Stelco Tower site and push it up to at least 86.70!

Comment edited by RenaissanceWatcher on 2012-02-12 09:10:22

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