Quote:
Originally Posted by Hockey Fan #751
I mean, Edmonton is a good example as well. That's a lot of money in development around that arena.
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Except Edmonton is a horrible example. The Ice District completely canabalized future development around Hyatt Place in Edmonton.
This shows what studies around sporting arenas always show, which is that they don't bring new development, they attract development that would have occurred elsewhere. In Edmonton's case this was around Hyatt Place.
This means that instead of development occuring at Hyatt Place and generating property taxes for the city to use, the development shifted to the Ice District and property taxes are diverted by the CRL to pay for the Oilers arena.
I am glad that we have a Mayor and a public that doesn't ignore facts and spend money solely because of the civic pride an NHL team brings.