Quote:
Originally Posted by CroFlames
Billionaires have been exploiting municipalities for stadiums and arenas for a long time. Our billionaire wasn't going to be the first one to be pious and righteous and build a rink of his own money (that he earned from OUR oil, but I digress). So I've accepted the fact that public money will go towards this project. If done right, the public can recoup their investment.
What I simply CAN'T wrap my head around is the massive cost. 1.2 billion for an ARENA. Not even a stadium. Earlier in this thread I posted about Juventus stadium in Turin built in 2011 for $310 million in today's CAD. It's state of the art, with all the bells and whistles, 42,000 seats and a roof. How is our new arena (likely 18,000 seats) going to cost four-####ing-times as much?! I'm not even arguing the split of public vs private money here, but the sheer overall cost is staggering and I don't understand it. Italy is a G7 country too, and Northern Italy is very affluent and developed, not unlike us.
Hell, the new Totteham Hotspur stadium in ####ing LONDON with a capacity of 63,000 and a roof cost a billion pound, but that included the demolition of their old stadium, and development of surrounding area. Is Calgary really more expensive than London?
The posts about "stop your bitching" seem crazy to me if we can burn a cool billion and not ask questions.
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*~830 Mil for the Arena.. But still crazy expensive. This will likely end up being $1.15 Billion considering overruns.
Edmonton Arena was estimated at $450 mil in 2014 and ended up at $614 mil in 2016.
I understand inflation, lack of man power and high material costs raised the estimates quite a bit but starting out at $830 mil for arena seems high, even if its nearly a decade later than Edmonton's.