[QUOTE=thefourthtower;5148072]
MANDRYK: Taylor Field redevelopment could help fund new stadium in Regina
By Murray Mandryk, The Leader-Post February 1, 2011 11:59 AM Comments (2)
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Redevelopment of the land currently occupied by Mosaic Stadium at Taylor Field could be key to financing a domed stadium.Photograph by: Bryan Schlosser, Leader-Post filesMaybe the problem with this whole stadium funding issue isn't that we've been thinking too big.
Maybe the problem is that we've been thinking too small.
Perhaps this should go in the stadium forum...
OK, so the City owns about 30 acres of land in the area, including the existing stadium. At 50 units/acre this would yield about 1500 units, roughly the density of the Maple Leaf development in the general hospital neighbourhood. At a conservative $200,000K per unit this would represent $300,000,000 worth of development, not including land costs or infrastructure. Even if the City acted as developer and made a 30% profit on the units the total is only $90 Million. Not sure how the City makes enough money to help fund 1/3 of the stadium out of this plan. It would be great to see the units in the core, and it would add 1 million plus dollars to the City's tax revenue per year after all of the expected development incentives have expired if most of the units were privately held... Alternatively, they could sell the land, would a private sector developer be willing to pay $1-2M per acre for land in this area? I don't really think so...