New Arena for Downtown Edmonton - Page 283

MalcolmTucker · #**5641** Posted **May 23, 2013, 4:05 PM**

Read the CRL reg for the Quarters maybe?

Coldrsx · #**5642** Posted **Jun 3, 2013, 8:08 PM**

Just back from a focus group on the arena district, they have been having some on condos as well. This one was more focussed on the retail, experience, perception.

Slowly but surely coming together.

Got to see a few more renderings as well, LOTS of patio.

ScottieA · #**5643** Posted **Jun 5, 2013, 9:49 PM**

Ward 9 Councillor Bryan Anderson had an article in the Examiner today that listed in depth all of the sources for financing the new downtown arena. I've broken down the information further in order to make it a little more easier to follow.

(http://www.edmontonexaminer.com/2013/06/05/councillor-connection-final-word-on-arena-financing)

Quote:

City of Edmonton Responsibility

Arena Building:
Downtown Community Revitalization Levy (CRL) - $120,000,000
Other City Funding - $80,000,000
(Including Re-allocation of Northlands Subsidy - $2,600,000)
(Including Incremental Downtown Parking Revenue - $2,500,000)
(Including Property Taxes on Arena Parkade - $240,000)

Total City Funding Arena Building - $200,000,000

Associated Public Infrastructure:
Wintergarden - $25,000,000
Pedestrian Corridor - $15,000,000
LRT Connection - $7,000,000
Community Rink - $7,000,000
Arena Land - $25,000,000

Total Associated Public Infrastructure - 79,000,000

Total City Responsibility - $279,000,000

Edmonton Arena Corporation (EAC)

Arena Building:
Through Lease Payments - $112,810,000
Cash Contribution over Construction Period - $17,190,000

Total EAC Funding Arena Building - $130,000,000

Wintergarden:
Through Lease Payments - $25,000,000
Cash Contribution over Construction Period - $6,500,000

Total EAC Funding Wintergarden - $31,500,000

EAC Operation of Downtown Arena:
Ticket Surcharge on Downtown Arena Events - $125,000,000

Total EAC Operation of Downtown Arena - $125,000,000

Total EAC Responsibility - $286,500,000

Other Government
Regional Collaboration Program Allocation (over 3 years) - $25,000,000
Provincial Community Rink Contribution - $7,000,000
Federal Community Rink Contribution - $7,000,000

Total Other Government - $39,000,000

------------------------------------------------------------------
TOTAL DOWNTOWN ARENA PROJECT - $604,500,000

hilman · #**5644** Posted **Jun 5, 2013, 10:13 PM**

Thanks for the great recap. Something doesn't look right though as some posters on C2E keep stating Katz is getting an arena for free

240glt · #**5645** Posted **Jun 6, 2013, 2:12 PM**

I wonder where the inevitable $75 million cost overrun will come from

EdmTrekker · #**5646** Posted **Jun 6, 2013, 8:53 PM**

Quote:

Originally Posted by 240glt

I wonder where the inevitable $75 million cost overrun will come from

Is that your experience on the jobs you are involved with? What % is due to archaic design or inaccurate estimating by the M&E consultants?

240glt · #**5647** Posted **Jun 6, 2013, 9:38 PM**

^ Honestly I don't know if it will go over or not.. I can usually tell by looking at detailed drawings but haven't seen anything from this yet... but on the projects that I have worked on, the most common causes of cost overruns are inacurate estimates by consultants, lack of detail drawings & shoddy or incomplete engineering & specs that allow way too many change orders... and my absolute favorite that seems to be a huge trend in the construction work: BID PACKAGES! What a horrible way to engineer a project... and I've seen it a lot in the last few years I was in construction.

Rocket252 · #**5648** Posted **Jun 21, 2013, 5:27 PM**

Looks like the saddledome is flooded.

May escalate their plans for a new arena.

EdmTrekker · #**5649** Posted **Jun 22, 2013, 11:20 PM**

Quote:

Originally Posted by Rocket252

Looks like the saddledome is flooded.

May escalate their plans for a new arena.

Remember...no money from this Province of Feds for arenas.

Coldrsx · #**5650** Posted **Jun 28, 2013, 4:31 PM**

Coldrsx · #**5651** Posted **Jul 9, 2013, 8:10 PM**

Staples closing and GEOTECH on site!

(http://farm6.staticflickr.com/5520/9250395818_3d2102d2f3_c.jpg)
chris vasquez on c2e

(http://farm6.staticflickr.com/5330/9240999325_019c8297e3_c.jpg)
chris vasquez on c2e

Kokkei Mizu · #**5652** Posted **Jul 10, 2013, 1:29 AM**

Gary1 · #**5653** Posted **Jul 10, 2013, 11:50 AM**

Is it possible that the katz group will start building towers as well as condos before they start building the arena. This would,I think be a very positive move because it could take away from those voices who say that the arena district will not happen as planed. I for one would love to see the anti arena critics silenced for ever.

Coldrsx · #**5654** Posted **Jul 10, 2013, 2:06 PM**

The REAL money Katz is going to make is from the development of arena district IMO... and sale of said district's parts eventually.

240glt · #**5655** Posted **Jul 10, 2013, 2:29 PM**

I don't think they will wait for "eventually"

He's alligned himself with developers, not landlords. Those buildings, if & when built, will be sold shortly thereafter.. or maybe even before