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Originally Posted by New Era
Thanks for the information. It does present a much better picture than has been promoted by either side in the argument. For anyone else interested here is the plan that Barnes is referring to.
http://www.calgary.ca/CS/CPB/Documen...ation_plan.pdf
It is closer to Buckwood than LA Live, which I think it better for Calgary and much cooler. I don't think current state is anywhere near where this plan is promoting, even after a decade. It is still decades away from implementation, regardless of when an arena goes in. There is so much work to be done, and no cash to do it. While this is a much better vision, what do you think the likelihood of this happening is in the next 20 years? Where is the money coming for this? Or are the relying on "build it and they will come" type strategy with private development? |
AFAIK CRL money is borrowed and allocated by the City to the CMLC. The CMLC sells the upgraded land to developers and the City repays the loan on the borrowed funds from the new property taxes collected.
An arena anchor helps this immensely. 17th ave connected to 4th st, expanded BMO Centre, an arena, and entertainment venues directly around the arena fills out the area nicely. The eastern portion like the Remington lands, bus barns etc, yah. Not for awhile but, a realization of essentially what was to be the Stampede's Stampede trail vision, only a modern version of it with an arena would be my ideal solution.
In the East Village, CMLC spent $357 million on infrastructure and has attracted $2.7 billion in development.