Who Else Is Moving Into Canderel

A Pessimist says----City still pays and pays and pays after subleasing

An Optimist says---"Subleasing saves city money"

I know we poor taxpayers are going to save money on the Canderel subletting. How do we know, Eddie Francis told us so!

We are told that "Francis wouldn't disclose how much the new subtenants will pay, citing confidential agreements with private companies, but said the long-term sublets will save the city "hundreds of thousands of dollars a year."

I expect that we are not saving all that much since the property was listed at $10 dollars per square foot for the best building in town. Isn't that around half what the City was obliged to pay? And I would not be surprised if the new tenant was able to get an even better deal than that. Of course, we had to increase the real estate commission fees for renting at the same time we slashed the rent charges and we had to give "tenant inducements" too. But hey, as the Mayor said "It has been a pretty significant weight on us."

Who else is moving in? That's a huge secret as well. "The city will let the new subtenants identify themselves, Francis said."

I wonder if the rumour is true about this well-known financial services firm going there.

Only time will tell!