Quote Originally Posted by iheartthed View Post
The cost just doesn't make sense... Unless I'm missing something. We're talking about a third of what they're projecting to spend on the new hockey arena... For an apartment building. The building isn't located in a part of the city that is being heavily invested in. It's not located on a proposed transit line. There is nothing to suggest that any building on that location would be worth $200M in the foreseeable future. Even the Fisher Building, just a mile or so away, currently occupied, and in a lot more favorable location, could not sell for that much right now.
This may well be bogus, but the renovation cost of the Lee itself is only being projected at $34 million. It isn't clear how they get to the $200 million total, which is certainly a reason to have some suspicions..