Interesting article on CRLs that was on CBC a few months ago (not sure if posted here).
Mentions that they can be very beneficial, but also risky. Depends on the tax profitability of the area going up. In comparison, East Village is looking at $750 million in CRL, and the Edmonton district is looking at over $900 million.
I guess the question is: Does a clean area suddenly ripe for development around a public-use complex gain the city $250 million in property taxes? Riverfront property is VERY valuable, and VERY chic in Calgary. Property values would be high in West Village.
http://www.cbc.ca/m/touch/canada/cal...tory/1.3079392