Quote:
Originally Posted by Bunk
City (largely) owns the land, so it would benefit in theory from the investment. It would realize some lift in value, which would reflect in the sale price to private builders for things like condos, hotels and offices. In Edmonton the Arena Diatrict was private land with Katz Group and development Partner WAM I believe.
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Well the land is currently worthless. Assuming the provincial or Federal government remediated the land, the city all of a sudden owns a highly valuable piece of waterfront land right next to downtown.
So lets just say in 50 years the building is worthless, the land still appreciates. That's something the city doesn't have without this project.