Quote:
Originally Posted by Cappy
I think you still wrestle with the issue of whether the arena is the catalyst for residential/commercial/retail growth in the surrounding area. Given the revitalization argument that is used often today, it largely appears that the growth of commercial, residential, and (outside of some restaurants and bars) retail is better associated with interplay between the three rather than the arena.
A downtown location, once the infrastructure and planning is in place, will grow. Calgary has seen immense growth in the inner city in the past 20 years, and it does not appear to be slowing (recessions, excluded). People want to live/work/play (hey!) in the same areas. So commercial/residential growth provides a demand for retail which creates a demand for commercial/residential and a community can turn into a self-sustaining entity - Especially a downtown community (and one with a large number of corporate HQs)
All the other variables still apply to arenas that Regorium mentioned. The isolation, limited use during the day etc.
So from that perspective, the argument could be made that an arena and stadium smack dab in the middle of a downtown development will not foster new development but either provide little to no catalyst for development (or worse, actually impede development!) If that is the case, then the opportunity cost of 450 million providing little to know area development (on top of the leakage and substitution effects many studies attribute) is less warranted.
Edmonton
I feel the same thing is happening in Edmonton. For decades, Edmonton's DT was atrocious, but it has been slowly changing as more young people are wanting to live downtown. There are several large condo towers that have been popping up all over downtown due to the changing demand and changing demographics (millennials want a different life than their parents). Great restaurants have inevitably followed.
The Oilers jumped at the chance to be involved in developing the area around as a sweetner to the arena deal becuase this is where the money is made. The demand for DT live/work/play in Edmonton is on the rise, and has been before the ICE District ever broke ground.
Columbus
Columbus has been used in the same way as Edmonton to promote DT arena's fostering development. There are studies showing an increase in growth of DT Columbus since the Jackets came around, but the studies also reveal two things: the trend was starting before the arena (increasing with changing demographics) and the growth in downtown Columbus has not been concentrated near the arena district but throughout downtown as a whole.
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I think most Edmontonians think that the arena development is/will spark downtown growth.
Your Columbus argument is the same one usually made: no proof that the growth is from the arena. No proof because it is difficult to prove. The bottom line though is that the area is growing successfully.
You would be hard pressed to find a Winnipegger that argued that the arena didn't revitalize the downtown area.