To make development possible in the West Village, you need to do serious land remediation. To create enough space for a stadium, you need to re-route Bow Trail, probably 14th, as well as all the other roads. To handle extra traffic and do it in a way that encourages people not to drive, you may have to build not only a new bridge over the river, but perhaps a bigger connector to the Sunalta LRT. If you're going to do all this and shut down the route, it probably makes sense to fix the Crowchild/Bow mess as well at the same time.
To do it right, there's probably 2 Billion dollars worth of stuff to do before you even touch the arena/stadium portion. This is why I don't think this proposal sees the light of day without something big like an Olympics being tied to it. There are just way too many costs involved with this location.
I guess the good thing is that, if there are plans for the Flames/city/province/nation to spend money, now is not a bad time for it as costs are down, and people could use the work.
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