Quote:
Originally Posted by sureLoss
That assumes the unique opportunity of property next to an arena/stadium and riverfront won't create demand in addition to the current demand for property.
You can't tell me with a straight face that there won't be restaurants/bars/hotels/other businesses that will only exist because of the arena.
And demolition costs? How much are we talking about in present day value for something that will happen 30-40-50 years after the building is complete?
|
Common sense would say yes but studies have shown the economic activity around an arena is far lower than expected. The fact is that most people (I'm speaking in generality here so spare anecdotal evidence to the contrary) don't want to live near a stadium or go to the restaurant and bars by the stadium unless there is a game (most studies also reveal that area residence avoid restaurants/bars on game days). The arena would probably bring in less of a "scene" than high density, mixed use development in the area.