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.
â€š”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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