SBD/April 29, 2014/Facilities

Facility Notes

In Vancouver, Ian Austin notes the Aquilini Group, which owns the Canucks, has paid C$91M for “the rest of the 67 condos" in Vancouver's Olympic Village.” The city said that the purchase "has enabled it to finally pay off" its C$630M loan. The city admitted yesterday that “despite paying off the loan," it received C$130M less than anticipated for the land (Vancouver PROVINCE, 4/28). Also in Vancouver, Jeff Lee notes the purchase “ends the city’s involvement” with the C$1.1B Olympic Village project. The city took over the development in February '09 "after Millennium Developments ran into financing trouble” (VANCOUVER SUN, 4/29).

BAY AREA BLUES: In S.F., Chip Johnson notes when the Warriors last week “gloriously announced their purchase of a 12-acre plot” in the Mission Valley area for a new arena, the club also “delivered a less-than-celebratory message to Oakland and Alameda County.” The team informed the Oakland-Alameda County Coliseum Authority that when it leaves in ‘17, it will “stop paying the public bonds issued in the mid-1990s to make seating, scoreboard and other upgrades at the Oracle Arena.” Those 30-year municipal bonds generated $140M in improvements and “won't be paid off” until ‘27. The reward to the public for “more than four decades of fan support, through good and bad times, is an unpaid bill” for more than $60M (S.F. CHRONICLE, 4/29).

EMOTIONAL DRAW: ESPN.com’s Ivan Maisel notes the new College Football HOF in Atlanta is a “fascinating attempt to meld the history and the emotion that draws us to the game.” Maisel: “A cathedral-like setting on the third floor will honor the game’s best players and coaches. The first two floors will be more devoted to the fan experience.” The plan is “to be open” for the ‘14 season (ESPN.com, 4/29).
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