khris
Senior Member
As if BMO has to worry about the cost of fixing it. They're loaded with money.
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ungodlycrosscheck
New Member
Stupid question but does BMO own their building or are they a tenant?
down on the upside
New Member
tenant fcp is owned by brookfield
junctionist
Senior Member
Since it's a major bank, it's easy to assume that it owns the landmark tower. In reality it is indeed a Brookfield property. The TD Centre across the street is actually owned by Cadillac Fairview.
down on the upside
New Member
I was under the impression that only scotiabank is the only remaining bank to actually owns its real estate?
casaguy
Senior Member
Exactly.
Whether or not they own the building shouldn't matter. It is the BMO name that is associated with it. It is their image. And right now their highest profile "billboard" is looking run down and tattered... much like how I feel about their brand.
In this Saturday's Star, a Condos section story by Stephen Weir about constructing the Trump tower mentions that the "oversized" Bay Adelaide Centre's three towers will be 51, 49, and 43 floors.
42
42
urbandreamer
recession proof
A rainy Saturday, May 31, 2008 view from Adelaide@Simcoe
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Hydrogen
Guest
Why in the world would they use their money to pay for the renovations to a building that belongs to another corporation?
khris
Senior Member
Because they care about their image?
People don't look at the building and think "Hey that's the Brookfield owned building." They think, "Hey that's the BMO building."
Although they shouldn't have to pay for it, Brookfield should be, I can still see BMO wanting to use their own money if Brookfield doesn't want to.
But this is getting WAY off topic.
TKTKTK
Senior Member
Then BMO should take their sign off the building and pay to put it on something nicer looking. It's not as if anyone uses the sign in lieu of an address.
ungodlycrosscheck
New Member
BMO has a fiduciary responsibilty to its shareholders to maximize profits, voluntarily embarking on a hugely expensive renovation for a building it does not own would not be greeted with wild applause by the shareholders. If BMO wishes to participate in corporate philanthopy to enhance its public image, my guess is they would find other avenues of doing it as opposed to writing a cheque to their landlord.
None of this takes away from the clear evidence the building looks aweful. But I think this is a case of blaming the victim for FCP's exterior condition.
None of this takes away from the clear evidence the building looks aweful. But I think this is a case of blaming the victim for FCP's exterior condition.
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Hydrogen
Guest
If you mean BMO shareholders, the answer is no. I doubt they want to pay to fix up property belonging to someone else - regardless of how you feel about it.
casaguy
Senior Member
View from the Gardiner Expressway (and a few other shots of our most excellent skyline mixed in).
TrickyRicky
Senior Member
Casaguy,
You must have done the Becel ride today. I did as well but no camera at present.
You must have done the Becel ride today. I did as well but no camera at present.