Quote:
Originally Posted by getbak
When talking about new construction, one thing that people keep ignoring is the $600 million in the funding plan to be spent on new housing that will serve as the athlete's village for the Games and then become available for low income/affordable and senior housing after the Games.
That accounts for 20% of the public funding budget, so it shouldn't be ignored. It also falls under the category of infrastructure that either will be built over the next decade (as part of the "Rivers District" plan) or if it's not built, in 10 years, we'll be looking around wondering where the money's going to come from to fund it (like we've been doing with the Field House for the last 8 years).
|
The problem with counting all of the affordable housing investment as an asset is its terribly expensive. We get 800 units of affordable housing for 600 million dollars. So 750k per unit. I suspect that this is becuase their are extensive renovations required between the athlete use for 3000 and the housing use for 800. So while they put 600 million in the infrastructure bin I would say only 200-400 is the actual asset value after the games.
I think a reasonable statement (assuming we get the flames arena) might be we get between 750-1 billion of infrastructure we need for 1.5 billion of provincial and city dollars and 1.5 billion from the federal money fairy.