gp9rm4108 wrote:CN corporate headquarters HAVE TO STAY in Montreal. It's some politcal thing I think. I've read the reason many times but it just doesnt stick.
It was a Act Of Parliament by the Government Of Canada when CN was Privatized that requires the Headquarters to remain in Montreal. CN might be a private company now but the enabling legislation of the Act still stands. (e.g: You might own your house but the covenants on the property you purchased go with it)
Selling their Headquarters and Central Station complex is a real estate transaction which generates $355 million for CN and gives the complex to a company better suited to develop and maintain the property.
They are not moving out and if you read the press release, the longterm lease-back was part of the transaction: “CN and Homburg structured the sale-and-leaseback transaction to reflect the long-term presence of CN’’s corporate headquarters in Montreal and to ensure continued operation of Central Station for use by VIA Rail Canada Inc., l’’Agence metropolitaine de transport, and AMTRAK.”
Central Station is a huge complex and the heart of Montreal’s underground network linking office towers above. The 1000 room Fairmont Queen Elizabeth Hotel (a former CN Hotel) Place Ville Marie and Place Bonaventure are directly above and built over the tracks and entrance to the Mount Royal Tunnel.
http://www.vieux.montreal.qc.ca/plaque/ ... are_3a.htm
http://www.stcum.qc.ca/English/metro/images/c15.pdf
http://www.fairmont.com/queenelizabeth/
Lots of photos here going back to the original construction in the 1940's.
http://imagescn.technomuses.ca/search/s ... e=&subject