New Edmonton Arena Construction will begin in March 2014

[corporatejay]

Originally Posted by CaptainCrunch

If anyone thinks that that building is going to come in at $605 M they're nuts.

Edmonton will end up owning their own version of Montreal's Olympic Stadium.

Look, let me preface this by saying that I'm all for government funding for a new arena but if the flames only put up 23.8 million cash for a $600 million project I'd flip my lid.


http://www.edmonton.ca/city_governme...-approved.aspx

• $279-million from Community Revitalization Levy (CRL) and other incremental revenues (increased parking revenue, reallocation of existing subsidy paid to Northlands and new taxes from business in the arena)
• $125-million from ticket surcharge on all events in the new arena
• $137.81-million from lease revenue for the Arena
• $23.68-million in cash from EAC
• $25-million from other government sources

[getbak]

It's almost 2000 seats more than Rexall. Most of that increase will likely be "premium" seating, so it will mean a lot more money in Katz's pockets.

[Locke]

Originally Posted by corporatejay

Look, let me preface this by saying that I'm all for government funding for a new arena but if the flames only put up 23.8 million cash for a $600 million project I'd flip my lid.


http://www.edmonton.ca/city_governme...-approved.aspx

• $279-million from Community Revitalization Levy (CRL) and other incremental revenues (increased parking revenue, reallocation of existing subsidy paid to Northlands and new taxes from business in the arena)
• $125-million from ticket surcharge on all events in the new arena
• $137.81-million from lease revenue for the Arena
• $23.68-million in cash from EAC
• $25-million from other government sources

Oh yeah. Hence my 'KY' jab. I cant believe Edmonton City Council fell for this. They got taken for a mullet-ride.

[RM14]

Spoiler!

(size)

A lot of wasted space in the actual arena, those end seats look like they're a mile away.

I hope ours is better than that.

[Hemmer]

Originally Posted by Locke

I thought Rexall was only 16K and change? And, like Tyler said, its primarily about the boxes, but its also about ancillary businesses like concessions, restaurants and I believe they mentioned there will also be a casino?

Yah they're planning a 85000 square foot Las Vegas style Casino. Project also includes Office Towers, Condo Tower, and a hotel.

I'm just glad this whole process is finally over and that shovels are gonna hit the ground soon. Its been a long and bumpy road.

Final Designs:
http://photos.edmonton.ca/Major-Proj...ZWB7/i-rfkpwLw

[CaptainCrunch]

Yeah, like Taylor Hall will still be there by the time that arena opens.

On top of that Edmonton winning that game. this picture must be a view of what hell is like.

[worth]

Look at how many bald dudes there are in the crowd. Looks pretty accurate to me.

[steveo]

Whole lotta gingers in Edmonton.

[Ozy_Flame]

Looking forward to having a beautiful new building in Edmonton. I think it's a good step for the team, and to keep the fans coming. I'm sure it will be a great venue to play in.

[JonDuke]

I actually like the design and can't wait until the Flames one up it.

[The Yen Man]

Hopefully this puts a little bit of pressure on the Calgary owners to release some details on their arena plans soon.

[zyzz]

Nice looking arena. That lower bowl is huge, looks like lots of private boxes as well. I'm really hoping Calgary gets some sort of Hockey/Football combo

[Tyler]

Yeah good luck with that.

[Coach]

Originally Posted by RM14

Spoiler!

(size)

A lot of wasted space in the actual arena, those end seats look like they're a mile away.

I hope ours is better than that.

There's also 3 Edmonton players behind the last opposing forward. That can't be right...

[VladtheImpaler]

One step closer to the Rogers Hockey League. Will it have an Apple Conference and a Samsung Conference?

[Locke]

Originally Posted by Ozy_Flame

Looking forward to having a beautiful new building in Edmonton. I think it's a good step for the team, and to keep the fans coming. I'm sure it will be a great venue to play in.

Pretty soon the only thing keeping the fans coming will either be mind control or much stronger kool-aid, new arena or otherwise.

[Ozy_Flame]

Originally Posted by Locke

Pretty soon the only thing keeping the fans coming will either be mind control or much stronger kool-aid, new arena or otherwise.

Or, you know, people who actually like the logo and the team, and not the bozos who wear it (to quote a former member's famous words).

[Kjesse]

The theory of the CRL which pays for most of this is as follows:

"The CRL is not intended to change the total amount of taxes collected in the area – the tax rates will be the same as for the rest of the City. The taxes will, as always, be based on the assessed market value of the property.
Again, the premise of a CRL is that a revitalization project will serve as an impetus for development to occur that would not otherwise happen, or would happen over a much longer period of time."



In other words, they intend to collect $279 million based on future projections of growth in property taxes based on expected new development. So nearly 1/2 the gross budget is based on hope, and they don't even have planning approval on any of that improved property which will generate these revenues.


I'd like to think this works, but I don't actually believe it is realistic. Either way, I think in the case of Edmonton they need to bite this bullet and make it happen. Katz has shown he isn't a philanthropist when it comes to the Oilers, he's here to make many hundreds of millions. I can't say I fault him, why the hell should he pay when the people will?

[Resolute 14]

Originally Posted by Locke

Pretty soon the only thing keeping the fans coming will either be mind control or much stronger kool-aid, new arena or otherwise.

Indeed. The opening of GM Place gave the Canucks only a one year boost before people in Vancouver returned to not caring about a bad team. Edmtonton (and later Calgary) will require a team worthy of the facility pretty quickly.

[Erick Estrada]

Pretty nice looking facility. Will be odd to see such a slick looking facility largely populated by mullet heads in sweat pants.