Quote:
Originally Posted by Hali87
Couldn't this investment happen, with or without the events centre though? If enough developers/businesses have expressed their intents to invest substantially in the area, this could create a critical mass that would attract more people to the area and make it a more viable shopping/entertainment district. Restaurants and bars and nightclubs and clothing and electronics stores don't necessarily need a new arena across the street to be viable...
What I mean is it would be one thing if the events centre were the only proposed development in the area, but if there's hundreds of millions of dollars in private investment in the works, that in itself is enough of a reason for developers to take interest in the area, I would think.
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I think the absence of the events centre would make the likelihood of significant surrounding development very unlikely.
Moncton's economy has done well in the last couple of decades, but the downtown remains weak. We don't have the luxury of Halifax's position as the de facto regional metropolis. As such, most development monies bypass Moncton (and Saint John) and head right to Halifax. Even downtown Halifax has not done that well (until recently), and this is one of the reasons why the Nova Centre is being developed (with significant government involvement). The Nova Centre is rightly seen as a major linchpin in the growth of the core of that city.
The events centre in Moncton is our equivalent of the Nova Centre. It will stimulate surrounding condo, apartment, hotel, retail and restaurant construction that will total a couple of hundred million dollars. The amount of potential private capital that could be injected into the city economy because of the events centre will easily outstrip the combined federal, provincial and municipal contributions.
Is there a risk in government funding of the events centre? Of course there is, because the private companies that have interests in the surrounding lands (like the Aquilini's) will not guarantee their intentions for their properties. It is like
JHikka says a case of "if you build it they will come". You have to have some faith.
If we fail to build the events centre however, this will send the developers a completely different message. That message will be that Moncton has lost it's mojo and is no longer willing to take the big risks. The accountants will have won out and the visionaries will have lost.
If the provincial Liberals deny funding for the events centre, we will have seen the end of the "Moncton Miracle". They will be writing the epitaph of that brief period of time (1990-2014) when the city rose from the ashes of the closure of the CN Shops, the Eaton's Catalogue Warehouse and CFB Moncton and became a centre of regional importance and one of the faster growing cities in Canada.
The Miracle faltered with the death of Ian Fowler. The flame will be completely extinguished by Brian Gallant.
RIP Moncton Miracle.......