Quote:
Originally Posted by The Yen Man
So what's the difference between renovating an existing building for $1B vs. building a brand new one for $1B?
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Financially...looks like nothing except thst you might have valuable land with a major deterrent holding back its value when you build new and leave an abandoned old building. Location and ability to get the land often leads to new facilities vs rebuilding old ones. New Construction is always more efficient. But in 25 years when it needs a substantial refurbishment maybe Calgary is feeling more of a Land crunch to look at refurbishing and renovating this arena. That and Concrete being the Oilers in terms of Primary Structure choice. Steel can be repaired, reworked, repurposed. Concrete is trash....
So pick the right location...and make it something that can be renovated in the future and it will ultimately cost less. Edmonton is dealing with how to demo the old Coloseum now...and I don't think they had that as cost for the arena.