Quote:
Originally Posted by Feneant
Am I the only one who looks at the plan and thinks 'What city is this?'. ALC should be taking bets on the % they complete in this downtown development because we'll be lucky to see a fraction of that. And even by some crazy twist of faith their vision becomes reality, we'll be paying for it in taxes for the rest of our lives.
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Well, to be fair, of everything you see in that image, the municipality would only be investing in "phase 2" construction of Downing Street, and the city market. Everything else you see would be anticipated private investment.
It's kinda like a "loss leader", similar to the events centre. With the events centre, the city invested ~ $110M to create an environment where an additional $250M of private investment in the neighbourhood is anticipated. This significantly increases the civic tax base so that the city anticipates making it's investment back. It would be the same idea for completing Downing Street and moving the market here.
In essence -
"if you build it they will come"........
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