Quote:
Originally Posted by BravoZulu
Here is an idea I have been thinking about for a while, not sure if it has been mentioned before so if it has please forgive me.
Consider a stadium development (Shannon park or elsewhere) which includes condo towers around the field. Some of them (the inward facing ones) would have excellent views of games, concerts etc. The outward facing ones would have water views if located in Shannon park, but perhaps the roof could allow these poor owners to still see the game from their home.
If the city was the controlling developper (by financing the project) surely they could fund a stadium through the profits from the condo sales. I know some wouldn't want to live near a sports stadium, and that's fine, there are tons of condos in Clayton Park, but I for one would be quite happy to purchase a condo with a balcony on the 50 yard line (kind of like expensive skyboxes). I'd probably still purchase tickets to the games for a more intimate experience but still seems like a way to raise the required funds for a stadium from people who choose to pay for it. The city would be on the hook for the initial financing but in the end it should be close to a zero cost and then property taxes would come in from the homeowners.
Thoughts?
I'm definitely not a finance major or a developper so I'm interested to hear what you guys think, just seems win-win to me, more residents in an underdevelopped location, justification for a ferry crossing and quasi free stadium.
BZ
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BZ, now you are thinking outside the box. Please go to post #75. The following would also apply to Shannon Park of course.
Perhaps the developers at DC would be interested in modifing their residential plans for DC north? (the Quarry). If a condo development were to incorporate a stadium then costs could be reduced dramitically for the stadium superstructure. Perhaps HRM could help by allowing more height for the Stadium Suites Condos so it would be even more feasible. These suites would not be for everyone but I think they would have great market appeal for a specific segment. There could be additional parking under the field and of course across the field from the residential component would be the Stadium Suites Hotel.
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