Quote:
Originally Posted by Ramsay
The risk is exactly why they are using a consortium model. The City is trying to offload as much of the the financing and operational headaches to the private sector in exchange for development rights.
I feel for a city the size of Surrey, and the proximity of the arena close to the Skytrain makes it a good long-term investment. The real value here isn't just the seating; it is the 100,000 sq. ft. of commercial space and the hotel density.
Eventually, there will be enough residential critical mass to offset the arena costs. I think we'll see plenty of bidders willing to take that "risk" for a piece of the new downtown core.
I am sure Abbotsford and Langley aren't big fans, as it will pull events and potentially sport teams away from them. Maybe not in the first 10 years, but that's a real threat.
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Langley is focusing a lot of density and infrastructure improvements around the events center so I think they are setting up the future that it can remain a complementary facility in the region so will be less at risk with a new facility in Surrey. With rapid bus they're also trying to make the case for more rapid transit down 200th between Maple Ridge and Expo Line.
I think it is honestly Abbotsford that may have some issues given its distance away from any major center though I'm sure it will still be able to hold events. That said, Rogers Forum gets a double whammy because when competing for general events, you have the large convention center space at the Abbotsford Airport and the Chilliwack Heritage Park complex not too far away.
Abbotsford and Chilliwack are growing though (2026 estimates around 275,000 population combined between the two) and with highway improvements when completed, for most of Langley, the Rogers Forum is about equidistant by car as Surrey Central is so it's a bit of a tossup.
Ultimately, I think this would be good for Surrey Central and boost development especially in that somewhat no-man's land between 108th and 104th.
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