Quote:
Originally Posted by Simplicity
$1.2MM and the management is staying in place.
The issue here is that this hotel and others - like the McLaren, for instance - exist as relatively quiet affordable housing for a lot of people who would otherwise be hugely expensive wards of the system going in and out of ERs with an overtime police escort on a bi-weekly basis. So it's not quite as simple where the calculations are concerned. What the Woodbine can do for 'society' at a costs of hundreds of dollars a month versus what the government would poorly accomplish for many thousands is where the real value lies.
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I very much like the woodbine's housing component and encourage it.
It's the off sales and vendor that I take issue with...
If it followed the bell hotel model I think everyone would have been better off although it was expensive.
It would make a huge difference to this changing area...
Coming back to the money for a minute, the vendor / off sales could have been acquired for 500k to 600k. The housing stays and the area moves forward in a productive and inclusive manner ...
It's a very small amount for CV to spend for a large urban pay back...
A lost opportunity for now...