Save Mellon Arena?

[greg42]

Do they have any funding in place for this redevelopment? A lot of this discussion is the same things over and over, but I can't recall discussing that.

I still come at this from the point of, once you take it down, it's gone, and there are no guarantees that anything magical will happen on that spot. I still believe it's most likely that it's taken down, someone works on reconnecting the street grid, and then nothing else happens for a decade.

I really don't have a problem with it going. I have a problem with it going to be empty space. Sadly, I think that won't really hold any water because the financial considerations would dictate demolition ASAP (cheaper than upkeep).

Don't be surprised when it takes forever for any of this proposed development to appear, especially if there is no funding already arranged. We're still in a period where financing is likely to be tight.

[BrianTH]

Originally Posted by RockLobster

Does anyone know if the master plan of the Pen's and developer has any mass transit links associated with the deal ?

I've seen (and posted here) the Pen's master plan, and it didn't include any mass transit. It is a tough area because of the slope/Hill.

Given this property is really the gateway to downtown from the eastern environs, might not transit be worked into the project from points east ( spine line, oakland, elib, wburg )

I like your thinking, but unfortunately the likely path to Oakland and points beyond would be through the Bluff/Uptown. They've long discussed a tunnel through the Hill, but that is the most costly option.

[BrianTH]

Originally Posted by greg42

Do they have any funding in place for this redevelopment? A lot of this discussion is the same things over and over, but I can't recall discussing that.

The Pens have the development rights, and of course they have money. But I'm not sure they have earmarked anything in particular yet. The only specific number I recall seeing is they were looking to get $28 million in fed money for redoing the streets.

[greg42]

Originally Posted by BrianTH

of course they have money

Sounds like a HUGE assumption. Something on this scale, into the many tens of millions of dollars, requires a bunch of financing. What I'm reading is "It's a wealthy sports franchise, of course they have money." Even if they have some cash in the bank, they don't just open the bank account. They need reserves for lean times, etc.

Now if you were saying "They have a financing package already in place", specifically for the upcoming development, then you'd be onto something. But that does not appear to be what you are saying. Correct me if I am wrong.

[BrianTH]

The current Penguins ownership is basically Lemieux and Ron Burkle. Burkle has a net worth somewhere around $3.5 billion, I believe. So yeah, it is a bit of an assumption, but I am pretty sure if Burkle wanted to put up something on the scale of tens of millions, he easily could.

[RockLobster]

Market will dictate which direction they go with development. MR Burkle is a smart bizz guy and I'm sure none of those office buildings will go up unless he feels they will fill them. I know some inside folks with the Pens and they have a love affair with Columbus Ohio's Nationwide arena district. A blend of entertainment, retail and office development. Columbus Ohio Arts + Entertainment | Arena District | Downtown Columbus Ohio

[Copanut]

I predict when they tear down the Civic Arena it will be a parking lot for quite a while.

[BrianTH]

Here are some pictures of the Columbus Arena District:

Columbus' Arena District at UrbanUp by Sherman Cahal

Not too bad--although I hope the Penguins do stick with the plan of having some 10-12 story buildings toward the Downtown side.

[Fortendnight]

The roof has open many times over the years and if everyone would not try to steal my video of the civic arena grand opening I would post it on you tube or something and it shows the dome opening and I have it all on film and DVD as well. I know it's not posted anywhere now I had youtube remove it 2 years ago for not protecting my copy right laws.