The Canadian developer said it was raising its tender offer to $66 a share, from $61, for all Federated shares.
A citizens group here sent 78,000 post cards to the Canadian developers urging them to locate here.
One Canadian developer claims that reusing buildings generally represents a saving of between 10-12% over building new.
The Genesis of the project began in the early 90's and was originally designed as a "point tower" exceeding 40 stories for a Canadian developer.
Comment could not be obtained yesterday from Campeau, a Canadian developer.
American and Canadian developers plan to build 5,000 new homes for 12,000 fellow citizens.
Canadian developers, in league with Canada's small fraternity of national banks, rebuilt much of several American downtowns.
Olympia & York is another large Canadian developer.
Groove Games was a Canadian developer and publisher of computer and video games.
Cadillac Fairview Bought the large Canadian developer - owner of shopping centers and office buildings - for about $4 billion.