: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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04-12-2013, 02:33 PM
Join Date: Nov 2006
Originally Posted by
That's still debatable. I've been to many cities around the world where there are massive, beautiful pieces of infrastructure are built that create a small business donut effect because of the monoply the owner, like Katz, has on the development. Not saying that's what's going to happen for sure, because yeah I get there's the revitalization plan and it's not only an arena, I'm just pointing out you can't really predict whether an area will thrive or not. Will people move or travel to Edmonton if there's a nicer more built up down town? Maybe, maybe not.
Ah, well anecdotal evidence is nice, but this project has funded studies behind it talking about the economic viability between plopping an arena and hoping for the best and a municipal-wide initiative supporting the development surrounding not only the arena, but the arena
that is accompanying it. Quite a different story in that regard. Nobody, not even Katz, wants a land value black hole surrounding the arena. It's not good business for anybody.
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