I’m going to be talking square metres because that’s the information I have in front of me. The absorption rate in Yellowknife has been about 2,000 square metres annually. If you factor in the new buildings that have come in over time, such as the Greenstone and the new office building, everybody has said we’re going to have a big problem in Yellowknife with too much space. Almost immediately, within a year, year and a half, two years, both those buildings have been completely filled.

The analysis that was done shows that this is the trend in Yellowknife and that we can handle more office space in Yellowknife. There are some

problems. With this zero percent vacancy rate to 1.6 percent vacancy rate that has existed here in Yellowknife, the costs have been incredibly high. As a result, in the last five years alone the cost of our leases has gone up 40 percent. That’s because the market is unhealthy. A healthy market is between 5 and 7 percent. That’s what we’re going for.