Today, OSEG unveiled its ‘Lansdowne 2.0' with a new arena, stands, 1,200 more housing units in towers. The 100-page staff report is now also out for next Friday’s FEDCo meeting. cbc.ca/news/canada/ot… #OttCity
It describes needing a rezoning at Lansdowne with process to start as early as this quarter, because the new location of the arena/event centre is at the berm in the current “open space” sub zone.
I know none of us like the term "waterfall" when it involves Lansdowne, but this report talks about "fundamental changes" to that agreement and comes with a chart. #OttCity
You'll notice one of change is to extend #OttCity's partnership with OSEG for ANOTHER 12 years, to 2066.
That sticks out because just over a year ago, there was debate when council voted to extend the partnership by 10 years, to 2054: cbc.ca/news/canada/ot… #OttNews #OttCity
Here's the breakdown of that $332M cost estimate for Lansdowne 2.0, which staff say was prepared by OSEG, reviewed by City staff, and vetted by a third-party cost consultant. #OttCity
In the risk section at the end, staff note the biggest risk is "cost escalation" and managing overruns given all of what's been happening in the construction industry with materials and labour. That last tweet showed $25M allocated for that based on public tender in by mid-2023.
Those air rights are estimated to be worth $43.5M toward that $332M estimate for Lansdowne.
Meanwhile, staff report says $239M in new debt to be issued. #OttCity #OttNews
And if you're wondering about the city's "public realm" at Lansdowne, the #OttCity report describes $3.5M for such things as better washrooms, a small bandshell, maybe a splash pad eventually.
Oh yes, and here were some assumptions used for the 52-year revenue projections. I wondered what this might be about... but I am not one to know much about sports teams!
Well, there are some notes I thought I'd share from my bedtime reading. Because sometimes you do just have to curl up with a 100-page FEDCo report instead of a novel?
(And it's not the only report -- there are THREE #OttCity FEDCo meetings scheduled over eight days!)
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