Comment 57567

By say what (anonymous) | Posted January 23, 2011 at 12:58:01

grear read the fully illustrates that in terms of remediation a stadium actually hurts the area as the site would not be remediated but only capped. A straong case hase been presented here to thurn this area into a natural environment for a period of time in order to be able to have a useful purpose for the site in the future that would far outperform the benefits of a stadium precinct. Brave, thats thinking outside of the box that brings immediate benefits to the northe end and even greater benefits up the road. Alongside the other article today that shows $35M could be spent developing a duel condo tower somewhere at WH which would generate $$30-$50M thus paying the costs of the project This would allow reinvestment of the FF money on another project and increase the payback many fold if the city were to act as developer where no developer appears ready to invest. The risk is that the city would be unable to get $$50M at $300,000 but would have to settle for $180,000 thus only realizing a $30M payback. Thats still only a net $5M investment in the core that would likely have developers look far more seriously at investment. Thats what the core needs. A lower total investment that actually guarantees more residents in the core rather than hoping for spinoffs on much more expensive projects

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