ilitch announces plans to build new arena
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12-06-2012, 11:30 AM
Join Date: Mar 2009
Location: Ann Arbor
Originally Posted by
Old school falls apart. New school attracts new money.
My old high school was built in 1917 or something...
Yes, it requires more maintenance. Upgrades are expensive.
But it's a beautiful building. And it's the kind of building that attracts students.
History attracts money. I used to go to Tiger Stadium because it was Tiger Stadium. I've been to Comerica Park once.
Now, at 30 years old, the Joe isn't historic. It's just old. And it's never been a "beautiful" building. But really, neither was Tiger Stadium.
Going back to my high school and doing elementary school math....what if you let the Joe age, but with renovations, over the next 30 years...by the time it's 50, it's an historic building.
How much do those renovations cost you over time?
How much money are you losing by not building new?
Conversely, how much are you saving by spending $650,000 million + financing?
How many years does it take to pay that off?
With today's life expectancy, will it still be in operation when finished??
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