Arena skeptics might want to consider what the arena already has done for downtown commercial real estate values. As an Eagle article noted, commercial office buildings are moving at a brisk pace. In 2005, 106 business properties sold, valued at $68 million. Compare that with 2002, when 28 properties sold, valued at $15 million.
“There’s more enthusiasm downtown than we’ve seen in many, many years,” said Marlin Penner, president of John T. Arnold Associates.
A large part of investors’ confidence is the downtown arena going in, and WaterWalk.
‚”You plant an arena downtown, and downtown explodes,” said Dave Lundberg, one of the Minnesota developers.
The arena is already changing the landscape of downtown — and ground hasn’t even been broken yet. In short, the arena is performing as promised.
Posted by Randy Scholfield
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