News Article: Lebreton project

[coladin]

Still relatively high given the market.
16 to 17k would be ideal imo

I think smaller capacity will be higher ticket prices. I think 18K in a still growing city is a good suze

 

[Stylizer1]

Once again ...... it's not a loan, it's a secured a $30 million short-term credit line.
It's access to cash, up to $30 M, on a short term basis.

Line of Credit, if you will, not a loan.

Why does he need a line of credit?

 

[Micklebot]

Why does he need a line of credit?

Because he maxed out his credit card

 

[Micklebot]

18,000

The RendezVous LeBreton proposal: More than an arena for the Sens

That number has since been reduced if we are to believe Melnyk.

Sept. 7, 2017: “The attendance shifts have been dramatic over a period of two decades. The whole trend now is less seats and more (in-house sections), and frankly, smaller stadiums. When you look at things like a new downtown stadium, we’re not going to build a 20,000-seat stadium. It will be probably be closer to 15,000-17,000 there.”

Senators: If we limit seats, will more fans come? | CBC Sports

 

[Tnuoc Alucard]

Why does he need a line of credit?

Get to Know Types of Credit - dummies

 

[Stylizer1]

Get to Know Types of Credit - dummies

I didn't ask you what is a line of credit, I asked why does he need a line of credit?

 

[armani]

I didn't ask you what is a line of credit, I asked why does he need a line of credit?

You won't get your response from the spin doctor conveniently ignoring you when you ask legit questions. Rinse and repeat process in these convos since spring.

 

[Micklebot]

Once again ...... it's not a loan, it's a secured a $30 million short-term credit line.
It's access to cash, up to $30 M, on a short term basis.

Line of Credit, if you will, not a loan.

You should google open ended loans. It might be enlightening to you.

 

[Pierre from Orleans]

What's the status on the project?

 

[Take a Bath Son]

What's the status on the project?

NCC meets end of November. There will be some disclosure of project status by then. If we don’t hear anything in the news before.

From what I have read-negotiations with Algonquins, financing, site plan and a host of other things are to be addressed-hopefully progressing.

 

[Pierre from Orleans]

NCC meets end of November. There will be some disclosure of project status by then. If we don’t hear anything in the news before.

From what I have read-negotiations with Algonquins, financing, site plan and a host of other things are to be addressed-hopefully progressing.

So still in negotiations.

I guess we won't have any indications as to when shovels start going into the ground.

 

[Stylizer1]

Is it me or is this thread missing a spin cycle pic?

 

[Take a Bath Son]

Personally, I’m frustrated by the whole thing. It’s like this project, this team, everything is in this permanent state of limbo.

This downtown arena is critical to the success of this franchise aside from a change in ownership.

3 weeks we’ll know something. NCC meets November 22-23

 

[Do Make Say Think]

The arena will happen, it's just a matter of time.

 

[Take a Bath Son]

not really an update but a bit of info in this news article on the new city council:

Adam: Jim Watson sees no major conflicts with new Ottawa council

"Watson expects council to be extremely busy and focused on the transformational projects coming up: the new library, new Civic campus of the Ottawa Hospital and, of course, LeBreton Flats. He says the firm that’s going to design the new library will be selected in two or three months and public consultations will then follow. On LeBreton, Watson says RendezVous LeBreton met the August deadline set by the city for all site-plan applications to be submitted. City staff are now reviewing the planning documents, which will be submitted for public review, then to the National Capital Commission in April or May for action. The NCC apparently has to submit a report to cabinet by June. “We will know in six months whether this is a go or not,” Watson says.

 

[Tnuoc Alucard]

What's the status on the project?

"I may be totally misreading the situation, but the signals suggest the whole LeBreton deal is in wibbly-wobbly land. It was only in April that Mayor Jim Watson, who also sits on the NCC board, fired his “are-you-serious?” shot at Melnyk about the proposal."
Kelly Egan

Egan: When change is not good: NCC seeks new boss as LeBreton gets dicey

 

[Tuna99]

The arena will happen, it's just a matter of time.

Melnyck second guessed the entire investment last year, and question if he even needed a new stadium.

Of course this isn’t a sure thing, the NCC takes it’s fair share of blame but when was the last time Melnyck did anything smoothly and according to plan?

 

[GrantLemons]

"I may be totally misreading the situation, but the signals suggest the whole LeBreton deal is in wibbly-wobbly land. It was only in April that Mayor Jim Watson, who also sits on the NCC board, fired his “are-you-serious?” shot at Melnyk about the proposal."
Kelly Egan

Egan: When change is not good: NCC seeks new boss as LeBreton gets dicey

Maybe I just haven't had coffee yet, but what is he referring to with this shot? Is there a quote from Jim where he says something of the like?

 

[Tnuoc Alucard]

Melnyck second guessed the entire investment last year, and question if he even needed a new stadium.

Of course this isn’t a sure thing, the NCC takes it’s fair share of blame but when was the last time Melnyck did anything smoothly and according to plan?

Melnyk is not the idiot that some people make him out to be ....... and he, and everyone else knows, that the Senators need to move to a downtown location, in order to survive in this small Canadian market.

Yes, he is his own worse enemy when he speaks publicly about this issue and speaks his mind, and says things that he should keep to himself ........ but he and everyone knows this move (to Lebreton Flats) will ensure the Senators will remain in Ottawa, for decades to come.

I'm sure he also sees the goldmine that Buying and Developing Lebreton Flats over the same time period, will be to his pocketbook.

 

[Tnuoc Alucard]

Maybe I just haven't had coffee yet, but what is he referring to with this shot? Is there a quote from Jim where he says something of the like?

“are-you-serious?”

www.cbc.ca/i/caffeine/syndicate/?mediaId=1214852675878

 

[BatherSeason]

Melnyk is not the idiot that some people make him out to be

He was the man behind the pre-season video with Boro. If he thought that was a good idea, then yes, he is an idiot. Really no need to come up with other examples, but I am sure there are many.

 

[Tuna99]

Melnyk is not the idiot that some people make him out to be ....... and he, and everyone else knows, that the Senators need to move to a downtown location, in order to survive in this small Canadian market.

Yes, he is his own worse enemy when he speaks publicly about this issue and speaks his mind, and says things that he should keep to himself ........ but he and everyone knows this move (to Lebreton Flats) will ensure the Senators will remain in Ottawa, for decades to come.

I'm sure he also sees the goldmine that Buying and Developing Lebreton Flats over the same time period, will be to his pocketbook.

I think he sees Lebreton as a huge risk to his pocket book and he doesn’t have the capital to make it happen.

He doesn’t have the money for this development. He doesn’t have the heart for Ottawa.

You talk about the $$$ he’ll make, he thinks about the $$$ he has to put up front. Totally different thing. You’re not seeing the risk he’s exposed to, just the pot at the end of the rainbow.

 

[Do Make Say Think]

Melnyck second guessed the entire investment last year, and question if he even needed a new stadium.

Of course this isn’t a sure thing, the NCC takes it’s fair share of blame but when was the last time Melnyck did anything smoothly and according to plan?

The point is that it will happen with or without Melnyk. This is way too big an opportunity for Melnyk to be a make-or-break partner.

It might not involve the Senators even, but Lebreton is going to get developped and I would be surprised if it didn't get an arena.

 

[Tnuoc Alucard]

I think he sees Lebreton as a huge risk to his pocket book and he doesn’t have the capital to make it happen.

He doesn’t have the money for this development. He doesn’t have the heart for Ottawa.

You talk about the $$$ he’ll make, he thinks about the $$$ he has to put up front. Totally different thing. You’re not seeing the risk he’s exposed to, just the pot at the end of the rainbow.

I'm no expert on how huge developments like these are financed, but I know a lot of (new) condo sales are made prior to them being built. People commit to buying, and the builders secure financing from lenders who know they'll get their return, down the road, when the condos are built and closed.

The Arena is a different issue, as Melnyk is going to be the owner, and financing it's construction will not be as easy.

 

[Tuna99]

I'm no expert on how huge developments like these are financed, but I know a lot of (new) condo sales are made prior to them being built. People commit to buying, and the builders secure financing from lenders who know they'll get their return, down the road, when the condos are built and closed.

The Arena is a different issue, as Melnyk is going to be the owner, and financing it's construction will not be as easy.

What does he do with the Palladium? My guess would be he’d want a casino there. He has been friendly with the casino peeps recently. Wonder if the 2 are connected?