Quote:
Originally Posted by Regorium
So what businesses has the Saddledome created?
The problem with businesses built around a stadium is the complete lack of traffic on days when there's no event going on. It also sterilizes the entire area around it because of the need for gigantic parking lots. The arena itself is isolated and doesn't draw tourists. People don't just lounge near the Saddledome on a weekend (compared to the pathways, for example).
The general consensus from every study basically says that the arena itself does not create any wealth from new businesses.
The billion dollars out of a plane example is basically saying you get a 1x multiplier (you invest 1 billion, you gain 1 billion of benefit). A billion dollars for an arena has generally shown to be less than that - especially when considering opportunity cost.
On the other hand, as I've posted in the last couple posts, there are emotional/social reasons for keeping the flames in town that has value as well. I just do not accept the economic argument at all.
|
True enough. Why it is that Victoria Park wasn't developed in the 90s and instead we had Electric Avenue and later the Red Mile blocks away? Was it the lack of condos? Really bad area of town? Only recently is there that business district at Cowboys Casino but that's it.
With planning could you build an arena + stadium + restaurants + condos as a complex? Have more events in the facilities.