New Arena for Downtown Edmonton

[MrOilers]

Once the Oilers' lease expires at Rexall Place, Katz could conceivably take the team anywhere he wants.

This 🞵🞵🞵🞵 better get sorted out.

[240glt]

Originally Posted by tallisgood

So once this arena plan dies, what's going to happen when it suddenly dawns on everyone that we need a new arena, have no new plan to proceed on building one, and now rising inflation AND interest rates will make the whole thing much more expensive than had we proceeded sooner.... Oh, and Seattle now has a nice new arena? KC's still looking for a team to fill their nice new arena, too. Wow, Edmonton.

Bad plan from the start, plain & simple.

*cough* I wonder how much further ahead we'd be in Northlands was brought to the table rather than pushed out the door *cough*


I can't see the Oilers leaving though... just doesn't seem possible.

[Gary Wayne]

Personally , i want to beleave the city is just trying to do its best to keep the price at 450 mil but when push comes to shove i chose to beleave a compromise will emerge and both the Katz group and the City will pay more. I also think there will be a lot of talking behind closed doors and we will never realy no all that has taken place today. What will help is if we can just get shovels in the ground sooner the Jan.

[240glt]

^ I think it's pretty clear that this complex is going to cost a lot more than $450 unless it is stripped down considerably. I remember seeing the latest drawings and thinking to myself "I think I am looking at more of a $550million dollar building"... apprently that's without the winter garden or practice rink !

Ian is right.. election time is coming up in a year, this is no time to be telling taxpayers to pony up more for this arena... we'll end up with a Rob Ford as mayor if we're not careful!!!

[Coldrsx]

Katz Group Statement

Katz Group statement on arena developments
Wednesday, 12.09.2012 / 5:15 PM / News
By Katz Group
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ARENA UPDATE: Mayor Stephen Mandel Comments
"We share City Council's desire to develop a world-class arena for $450 million, but two years of design and engineering work tell us it simply cannot be done without sacrificing the public's demands for an iconic arena that is well-integrated with surrounding neighbourhoods, or in a way that makes economic sense for both parties.

"The Katz Group is committed to continuing to work with the City to find creative solutions that work for both sides so that we can get on with the business of ensuring the Oilers' long-term sustainability and accelerating the revitalization of the downtown core.

"In the pursuit of these shared goals, the Katz Group has invested countless hours and millions of dollars towards the design and development of a new downtown arena, plus approximately $70 million, including land acquisition costs, to advance the related private sector development. This far exceeds City Council's requirement that the Katz Group invest $30 million towards development of the arena district prior to the commencement of construction of the arena itself. We have also offered to pay a fair share of arena construction costs above $450 million as part of a comprehensive package that makes economic sense. We have made these investments of time and money in good faith and without regret and continue to believe this project can and must succeed."

http://oilers.nhl.com/club/news.htm?id=641314

[feepa]

How about this. For the 100$ M shortfall.... Katz puts in 50 M, City puts in 50 M... shovels in the ground this spring... Everyone take a sigh of relief. The Oilers are locked in for 35 years... All is good again.

Of course, this is Edmonton, and will dither away for another couple of years and bid for tenders when the economy is super red hot... and wonder why this thing is over a billion dollars.

[Coldrsx]

^exactly. Initiated by Katz, matched, go.

[Calgarian]

At this rate the Flames will be in a new building while you guys are still trying to figure out how to pay for yours.

[feepa]

Originally Posted by Calgarian

At this rate the Flames will be in a new building while you guys are still trying to figure out how to pay for yours.

Word still out on who will be paying for the one in Calgary too. I don't think Ken King or the owner of the flames is going to be too keen to foot the whole bill. You still don't even have a location.

That said, its still very likely that Calgary will get shovels in the ground before we do. That's just the way Calgary rolls, and Edmonton doesn't, and its why Calgary has left Edmonton in the dust for the last 30 years.

Edmonton City Hall Four D's: Dither, delay, defer, disappoint.

[Hallsy's Toupee]

The Calgary way of doing things is to wait and let Edmonton do it first, then they learn from our mistakes and strive for better.

[bkd]

If this arena does not go ahead I am done with the City of Edmonton and finished living in the City of Edmonton.

Sick and tired of being sick and tired of this city talking, talking and talking some more but never walking the walk. It's such a stark contrast with the city located 280 kilometers south of us. This whole arena deal has been nothing but shenanigan after shenanigan - lots of pussyfooting around but no action; seems to be the Edmonton way.

[CanadianCentaur]

That's it.

Congratulations, City of Edmonton - you just screwed up big time!

I won't be surprised if Katz ends up announcing he's threatening to move the Oilers to another city, and makes good his threat, particularly if he's unable to get anything done in Edmonton. And this time, unlike Pocklington, Katz could well get away with this.

[Black Star]

From my understanding this has nothing to do with the 100 million. This is over and above! The city is pretty much banking on the Alta Govt MSI to Edmonton in 2013/14 to cover the 100 million.

Wake me up after this debacle is over.

[Daveography]

It's amazing how many folks here are happy to see Edmonton get a bum deal just to get an arena, even threatening to leave (oh noes) if we don't bend right over and take it up the 🞵🞵🞵 to make it happen.

Remember that the blame lies equally if not more on Katz and his approach to this whole thing, right from day one.

[240glt]

Originally Posted by RTA

It's amazing how many folks here are happy to see Edmonton get a bum deal just to get an arena, even threatening to leave (oh noes) if we don't bend right over and take it up the 🞵🞵🞵 to make it happen.

Remember that the blame lies equally if not more on Katz and his approach to this whole thing, right from day one.

You ain't seen nuthin' yet! Check out this particularly damning article by Paula Simons

http://www.edmontonjournal.com/sports/Si...s+blunder+asking+more/7233163/story.html

wow! Up until now I thought that the deal was going to happen regardless, but if this stuff is true, this deal is in big trouble!

[Rocket252]

So from the cities perspective I see hundreds of millions of dollars spent on community centers but cannot scrape together 100 million to change the fact of downtown and the reputation of this city as having the pair.

Now because of delay after delay the costs and realities are being argued now with more threats.

What a mess! Why does this city continue to act like this? I am embarrassed to be a native Edmontonian and am tired of this 🞵🞵🞵🞵!

City council. Earn your pay and get this done!

[Coldrsx]

Yes AND Katz needs to step up, simple as that.

[RicoLance21]

Originally Posted by 240glt

You ain't seen nuthin' yet! Check out this particularly damning article by Paula Simons

http://www.edmontonjournal.com/sports/Si...s+blunder+asking+more/7233163/story.html

wow! Up until now I thought that the deal was going to happen regardless, but if this stuff is true, this deal is in big trouble!

My relative currently owns a rental property not far from the proposed arena. The reality has already set in for me as that property value will remain stagnant indefinitely. I think the message is clear enough that the arena will not happen. Wake up, Edmonton. Expect the deal to fall through between tonight and the end of this week.

I am in utter disappointment right now.

[Coldrsx]

Guys guys guys, sky has not fallen today or yet.

[Hallsy's Toupee]

If there's design issues, best solution is to kill this winter garden pedway already.