Quote:
Originally Posted by Zarley
The Remington site won't happen for a number of reasons, but even if it was a feasible site for an arena and stadium site, the additional cost of that land would add $50-$80 million to the project. I would agree that the location is slightly better than the West Village, but not superior enough to justify that additional cost.
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How is that very different than the city giving the land to CalgaryNEXT for free. "Not selling" = "buying" from a cash flow perspective. Now, I don't know what the two values are and yes creosote negatively impacts the WV land value, but I'm willing to bet that when you consider the above plus an assumed relatively lower infrastructure costs on Remington that $50M-$80M could be made up pretty quickly.
It just feels...more right.
(obviously lots of gut feels and assumptions in there but directionally it feels right...)