If done in a way where:
a) the signs were placed in specific locations to further augment the aesthetics of already culturally significant areas
b) placed on a route that tourists and everyday citizens could follow / enjoy on their commutes
c) fell in place with current and future expansions of LRT / mass transit
d) were spaced close enough so that one could see several from different corners / intersections
e) each sign were to have a plaque with consistent design to distinguish them as part of a heritage series / tourist attraction
f) the signs were placed on buildings that suited them individually, architecturally and aesthetically
g) placed in a way as not to compete visually with local retailer's branding
If done properly, it could really enhance any city.

I think it all boils down to a desire from the city / community to maintain and enhance their public spaces. I think I would be foolish to say that many cities do not work with interested groups in a variety of ways; through funding, bylaws, and community engagement.
On the flip side, one centralized display for the signs allows for an attraction of it's own, and I'm curious if plans have changed slightly with the addition of the arena.
Now that I did some brain storming, I'm starting to like Ian's suggestion...