The phrase that real estate people use to market an old, dilapidated property is to label it a ‘ fixer upper’; in other words, it needs a lot of work.
That’s probably the best way to describe First Ontario Centre, the Convention Centre and First Ontario Concert Hall if City Council goes ahead with the idea of selling the three entertainment facilities in the downtown core.
The Convention Centre is a relic that can’t compete with more modern and functional facilities in other cities; the arena is in need of at least $68 million in repairs, but spending that kind of money on an old, outdated arena is like spending money to re-paint an old 1984 K car and expecting to sell it for top dollar.
Any interest from developers would likely be to knock down at least one , if not all three buildings in favour of commercial or condo projects, but asking them to include a new arena and convention centre in such a project would add a lot of zeros to the price tag.
In the meantime, all of this indecision and uncertainty must have Bulldogs owner Michael Andlauer , who has invested a lot of his own blood, sweat and tears and money into the arena , if Hamilton is still the best place for his hockey team, and that should concern everyone involved.
Comments