No. It's about the buildings. Here is an article articulating the important role old buildings play in the economy of a neighbourhood. Especially ones like Central Park.
The second half is most applicable to this discussion.
http://www.winnipegfreepress.com/busines...called-home-258858291.html?device=mobile
Beyond the more obvious value of the Exchange District, old buildings in all areas of downtown represent an opportunity for growth and neighbourhood building that is often not considered when evaluating their worth to the city.
High costs of construction and corresponding rental rates often mean commercial space in new buildings is only accessible to larger companies and chain retail outlets.
The more affordable economics offered by older structures provides opportunity for start-up companies and local businesses, promoting a commercial diversity and entrepreneurship that can become a resilient backbone to the city's economy.
With the vast majority of Winnipeg's population growth coming from international immigration and migration from rural communities, the economic opportunity for small, family-owned businesses found in older buildings would seem vital for the future prosperity of the city. This small-scale local commerce is also important as the seeds for growing the vibrant neighbourhoods needed to make downtown living appealing.
People are attracted to an urban lifestyle that allows them to walk to the little grocery, coffee shop or hole-in-the-wall restaurant around the corner from their homes. Small-business owners often live nearby and service this local population. The commercial and social networks that are established by these businesses create walkable streets and livable neighbourhoods that in turn support larger development such as condominium towers. Older residential buildings provide a population diversity that is critical to creating active communities composed of people with varied ethnicities, economic backgrounds and lifestyles.
Building neighbourhoods is more than simply adding residential units. The opportunity to establish commercial and social diversity, facilitated by the low rent and small spaces typically found in old buildings is a vital component of building both a strong urban economy and urban community. Historic buildings also provide opportunity for start-up companies, arts groups and non-profit incubator organizations that are not only attracted to low rent and flexible spaces, but find value in the collaborative possibilities offered by being densely clustered with other creative industries. Old buildings throughout Winnipeg's downtown, particularly in the Exchange District, are filled with creative organizations that are central to the city's modern economy and future prosperity.
Constructing grand new buildings in isolation is rarely a path to prosperity for cities. Without an organic neighbourhood to connect them to the city, they often become islands in the downtown. With a simple change in attitude toward the value of Winnipeg's historic structures, we can begin to see them as an important asset, contributing a social and economic diversity that supports larger investment in new construction. As we develop urban-renewal strategies, the vital role old buildings play as the fundamental building blocks of neighbourhood development and entrepreneurship should be carefully considered before we hastily reduce them to rubble in the name of progress.
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