Quote:
Originally Posted by tkflames
It would have been amazing if the city only had to pitch in 275M and CSEC took on all over runs related to the project. I believe that's where we are now with this arena. The risk equation is everything in this case and was fundamentally the issue with calgary next. Bad renderings aside...the project was a no go because of the creosote, the money the city had to put in and the high risk of overruns. The concept of a combined football stadium, arena and field house to rejuvenate a poor area in an amazing location was great I thought.
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The only reason it's a 'poor area' is the creosote. As you say it's an amazing location and has huge potential for tax revenue generation in the future.
It's probably presently generating as much (or more) direct revenue from the dealerships than they would from Cnext (as proposed). The surrounding real estate grift for CSEC would've been even better for them, though.