SportsFan wrote:What are you talking about?
So putting the casino at SS wouldn't generate business for the downtown area?
"The plan expands Station Square into a bustling new urban mixed-use residential and entertainment community. This will include ground-floor retail, sidewalk dining and cafe eateries, a 400,000-square-foot, $512 million Harrah's Station Square Casino with 3,000 slots, an additional 200 rooms at the Sheraton Station Square Hotel and 1,250 residential condominium units. All of these new elements will be connected by pedestrian scaled streets, creating a neighborhood look and feel. The residential units will have porches and stoops, accompanied by new parks and a riverside esplanade offering improved river access. With more than 50 acres at Station Square, the plan also allows for future expansion of the casino to 5,000 slots and the creation of a new hotel tower with 300-500 rooms.
Forest City and Harrah's also unveiled a significant philanthropic commitment to Pittsburgh, both now and in the long-term, that will be realized should they secure the license to develop a casino, as follows:
- First, the Forest City/Harrah's development proposal will enable the
Pittsburgh History and Landmarks Foundation to establish an endowment
of $25 million. Proceeds to the Pittsburgh History and Landmarks
Foundation will be invested with its existing funds and used to support
and expand programs to revitalize inner city neighborhoods.
- In addition, the Forest City/Harrah's development proposal will give a
total of more than $1 million a year through a foundation to support
the community. Half of the funds must be used in neighborhoods with a
60 percent or higher minority population. Franco Harris will lead the
effort to give these funds back to the community. This money will be
made available as soon as the license is secured.:
If you are in a slots parlor at Station Square and decide to go out after for drinks or something to eat, where are you more likely to go: one of the several restuarants in the same development (or one of the new one promised in the quote you posted) or going across the river to someplace downtown? Sure some will venture downtown, but most people will go to what's closest. Sure, all the taxes pour into the same place but if you want people coming into downtown it's common sense to put thind in the downtown area to draw them in.
Per your posts, the FC plan gives $120 to the city and state, and another $25 million for the Landmarks foundation, then an annual donation of $1 million for neighborhood development, half of which has restictions on where it can be used. Then there is a bunch of other developments planned which hinge on FC living up to projections.
IoC provides $290 million up front for the arena up front, which essentially frees up $290 million for the city/county/state to do whatever they want with, no restictions. They also have a bunch of other developments planned which hinge on their ability to live up to their projections.
$290 million vs. $120 million + $25 million + $1 million per year.