OT: Daryl Katz spends $120 Million on new LA pad

[Drivesaitl]

Yep.
Basically the city investing int he arena was to show the city was willing to commit to sparking development in the downtown core. The arena gave downtown the big ticket item which Katz used to drive all the other growth in the downtown core.

I live just out of downtown and HATE all the construction but the amount of things being done down there is nothing short of amazing. I don't think we need that many condos but as long as people are buying them its super beneficial.

Without the arena, the downtown core doesn't get the big investment it's been getting. It's a spend money to make money for the city.

More on topic.
Thats too much house lol

The city starts making money when things like Property Tax and CRL levy come in. In the deal the City fronts quite a lot of money and doesn't get much back for that for some time. Also of course other expenses in addition to what the City paid for the arena

1)Demolition of Rexall and agreements wherein that arena could not be used for similar events. That is a net cost for the City, and its residents regardless of what people thought of the venue.
2)Relocation and rent for moving into the new tower with the City taking up most of a tower owned by Katz. This being an ongoing expense.
3)Not commonly looked at it in the scheme of things generally as its development precedes the Arena but the Joke North Metro Line and its expense, at location is really a terrible investment, is worse than BRT in operation, and has also reduced train frequency throughout the system.
4)For all the expense we have an arena that services deep pockets well and whose upper bowl complete with steep seating, less amenity, and inefficient design (you have to ride to top of building on escalator before going down thus ensuring you take longer to get into, and out of the arena.) This arena has few cheap seats options. Its the new brand of arena for the wealthy, for better or worse. Pay the 20buck burger or get lost. If you have to ask the price you can't afford it. =Progress.
5)As for Amazing I don't know. Another Joeys location, overpriced restaurants in the arena. 12buck beers. Lame Casino. Arena and Entertainment districts have one Las Vegas purpose. Separating people from their hard earned money. Why is that always seen as an excellent thing?

 

[Drivesaitl]

Katz latest manor;

"35 Million for all the contents in the house"

Wowsa. high priced art or what?

 

[Drivesaitl]

Nice pad.

Where's the helipad for his private chopper and dock for his super yacht though?

Interesting expense thing is a lot of properties on clifftops in the area are susceptible to erosion, slides, loss of portions of property and or buildings. For the view, the expenses to shore up the cliffs to prevent or limit such catastrophe are excessive. Add rises in sea level to the equation and erosion and cost increases exponentially.

"Oh look, the Ocean view is getting closer Maryanne"

 

[CycloneSweep]

The city starts making money when things like Property Tax and CRL levy come in. In the deal the City fronts quite a lot of money and doesn't get much back for that for some time. Also of course other expenses in addition to what the City paid for the arena

1)Demolition of Rexall and agreements wherein that arena could not be used for similar events. That is a net cost for the City, and its residents regardless of what people thought of the venue.
2)Relocation and rent for moving into the new tower with the City taking up most of a tower owned by Katz. This being an ongoing expense.
3)Not looked at it the scheme of things generally as its development precedes the Arena but the Joke North Metro Line and its expense at location is really a terrible investment, is worse than BRT in operation, and has also reduced train frequency throughout the system.
4)For all the expense we have an arena that services deep pockets well and whose upper bowl complete with steep seating, less amenity, and inefficient design (you have to ride to top of building on escalator before going down thus ensuring you take longer to get into, and out of the arena.) This arena has few cheap seats options. Its the new brand of arena for the wealthy, for better or worse. Pay the 20buck burger or get lost. If you have to ask the price you can't afford it
5)As for Amazing I don't know. Another Joeys location, overpriced restaurants in the arena. 12buck beers. Lame Casino. Arena and Entertainment districts have one Las Vegas purpose. Separating people from their hard earned money. Why is that always seen as an excellent thing?

1) They are demolishing Rexall because they found it would be more expensive to renovate than demo and rebuild. Trying to keep Northlands (who loses MILLIONS a year) afloat when they still owe the city millions was a massive waste of money.
2) The city employees were SCATTERED around downtown. All over the place. Lots of city employees wasted a lot of time going to other offices across the downtown core for meetings etc. Now its all in one build, a short walk from city hall too and it has probably increased productivity and thats cost savings on its own.
3) The North Metro line in large part was to serve Nait and they messed up on that, thats a separate issue entirely.
4) The cost at Rogers Place is pretty inline with most large city prices. Beer prices are kind of average (beer per ounce is actually a very slight increase than Rexall believe it or not) food prices are expensive but so are a lot of new arenas. It's sadly the norm. Yes it sucks but it's not even close to unique to Edmonton.
5) The construction isn't done yet so yeah it doesn't look great now but downtown is busier than it used to be. It used to be an absolute ghost town after 5:30. You say all the places are overpriced but f***, shits busy all the time. Local bars and restaurants have seen much increased business as well. Wealthy people spend their money like poorer people too. Wouldn't you rather them spending their money IN the city, paying sales tax, creating service jobs and keeping their money here rather than go to Vancouver or somewhere else to blow all their cash? More high profile concerts (even if you like the musicians or not) have been coming here due to the arena which brings in people for the hotels, helps the hospitality industry here which, creates jobs and keeps the money in the city. f*** before we almost seemed lucky to get concerts. Now we have massive acts selling out multiple days here when before Rogers they wouldn't step foot in the city.

People are going to waste their money. It happens. It's better for Edmonton that they waste the money HERE rather than somewhere else.

 

[McFlash97]

I'm f**** happy we have a billionaire owner who's putting himself out there, who is from Edmonton, owns the Oilers. Gives the city and team a little more credibility as a premier franchise as opposed to a small town honky tonk pitchfork carrying Outpost in the middle of nowhere.

 

[Aerrol]

Yeah, I don't really care. Katz has been way too loyal to his old oilers buddies but man, I'd still rather have him as an owner than a lot of other God awful options. For instance: Eugene Melnyk in Ottawa. An owner so bad I could legitimately believe he'd let the best dman of this generation walk because he's too expensive.

 

[VainGretzky]

Govt subsidizing business is capitalism? Lol.

Sometimes it works out great for both entities , I can tell you've never been in business maybe watch what local government in the city Amazon wants to build a 2nd distribution center gives up for them to relocate there , and why will they do this the economic spin off that comes with it .


And also which people are pretty oblivious to do you know any time government buys anything from a private owned company whether it be a pen or a doughnut is giving them same subsidies to those capitalists remember they're using your taxes to do it Cheers

 

[Drivesaitl]

^^Yet the Senators are ALWAYS a better club on ice the entire tenure of Katz ownership of this club.

I dunno, a sidebar into "I'd rather be watching a Katz owned club" falls off a cliff pretty quickly upon further analysis.

Katz don't care about win or lose on ice and thus an org with zero accountability for on ice performance. That's the worst pro sports ownership imo.

 

[Aerrol]

^^Yet the Senators are ALWAYS a better club on ice the entire tenure of Katz ownership of this club.

I dunno, a sidebar into "I'd rather be watching a Katz owned club" falls off a cliff pretty quickly upon further analysis.

Katz don't care about win or lose on ice and thus an org with zero accountability for on ice performance. That's the worst pro sports ownership imo.

Sure, and they also consistently bleed talent because of his spendthrift ways. He also is constantly meddling with his GMs by making public comments at odds with theirs. He publicly told off Karlsson to the media because he had the gall to say he wanted to represent Sweden at the Olympics. Which I suspect is a huge reason Karlsson has suddenly gone from taking a gigantic discount for Ottawa to talking about how it's time for players to treat contracts like a business too.

You're mixing up cause and effect here, they have suceeded despite Melnyk, not because of him.

If you prefer another club that's been as bad as us, how about the gongshow of ownership in Arizona? Or the constant meddling in Florida, where the owners stepped in and destroyed the team after their first impressive season in a decade? Katz is far from the best but he's also far from the worst.

 

[DaGap]

Good for him He's worked hard for that money

 

[Jumptheshark]

I don’t know why really rich people want to live there. City is a dirty cesspool. One of the last places on earth i’d live if money wasn’t an issue.

Why would people want to live in Edmonton from November to mid march?

 

[I am the Liquor]

Sometimes it works out great for both entities , I can tell you've never been in business maybe watch what local government in the city Amazon wants to build a 2nd distribution center gives up for them to relocate there , and why will they do this the economic spin off that comes with it .


And also which people are pretty oblivious to do you know any time government buys anything from a private owned company whether it be a pen or a doughnut is giving them same subsidies to those capitalists remember they're using your taxes to do it Cheers

You know nothing about me and very little about anything else.

 

[VainGretzky]

You know nothing about me and very little about anything else.

Ok man whatever you think is fine by me keep hating progress it's your god given right

 

[Canovin]

Why would people want to live in Edmonton from November to mid march?

Is there a better place to follow the Oilers than in Edmonton?

 

[Jumptheshark]

Is there a better place to follow the Oilers than in Edmonton?

I am doing a good job of following them from Cardiff

 

[MoneyGuy]

Why would people want to live in Edmonton from November to mid march?

Where do you live?

 

[CantHaveTkachev]

I am doing a good job of following them from Cardiff

nothing like watching hockey games at 2AM

 

[MessierII]

Why would people want to live in Edmonton from November to mid march?

Some people like winter activities. Cross country skiing, skating etc. I’ve traveled to a lot of cities on multiple continents. LA is last on my list of places I like to visit or would consider living. City is a dump as soon as you roll your window down you can smell it.

 

[Arpeggio]

Some people like winter activities. Cross country skiing, skating etc. I’ve traveled to a lot of cities on multiple continents. LA is last on my list of places I like to visit or would consider living. City is a dump as soon as you roll your window down you can smell it.

The nice parts of LA are very nice, it's not like Katz is living in downtown LA.

There's upsides to living in most cities, just because you don't like it doesn't mean no one does. This applies to people who hate on Edmonton as well.

 

[Drivesaitl]

Some people like winter activities. Cross country skiing, skating etc. I’ve traveled to a lot of cities on multiple continents. LA is last on my list of places I like to visit or would consider living. City is a dump as soon as you roll your window down you can smell it.

Amen man. I love winter, the changing seasons, access to the mountains, living 20mins from natural areas out of town that be considered wonderous in most places on the globe. Or 10mins to natural areas within town.

For Lovers of the outdoors it doesn't get better than Alberta, anywhere, period. Albeit BC is pretty special but lots of weirdos there...

So lets see now. Katz has Kat Manor here, has a luxury condo in Vancouver, The LA digs, a couple others I forget. Anybody keeping track?

How is his play movie mogul business doing? Any movies out yet that he's funded?

Speaking of, I've seen his new mansion in some movies I think. Albeit Malibu Pacific Coast Highway properties start looking the same..

Myself if I had the money I would buy a coastal place in Northshore Vancouver. more beautiful surroundings imo and Vancouver Area trumps crowded smoggy LA in every way.

 

[McFlash97]

people get really offended when Edmonton gets called a hole, Embrace it, improve on it. Katz is a billionaire who stands with the City Of Edmonton. He is trying to improve and elevate the status of Edmonton and actually doing something about it. The people who ridicule him and try to call him a con man, are the type of people who won't let Edmonton move forward. Edmonton is what it is because of these type of people. Politics aside #freeEdmonton

 

[Senor Catface]

Edmonton: 2,299 hours of sunshine a year
Cardiff: 1,518 hours of sunshine a year



I don't even live in Edmonton, and denying how nice the winter time sun is comes across as dumb.

 

[DaGap]

Edmonton: 2,299 hours of sunshine a year
Cardiff: 1,518 hours of sunshine a year



I don't even live in Edmonton, and denying how nice the winter time sun is comes across as dumb.

Why do people think hours of sunshine mean anything..... How about you post the monthly break down of daylight hours

 

[Senor Catface]

Why do people think hours of sunshine mean anything..... How about you post the monthly break down of daylight hours

The point being, which you missed so easily, is that in the winter Edmonton has a brilliant amount of sunshine. Long summer days mean something to me as well.

I live in Vancouver. We do not have clear days in the winter. And I miss that sunshine.

It's very unique to the city. Many places have cloud for 5 months.

 

[VainGretzky]

people get really offended when Edmonton gets called a hole, Embrace it, improve on it. Katz is a billionaire who stands with the City Of Edmonton. He is trying to improve and elevate the status of Edmonton and actually doing something about it. The people who ridicule him and try to call him a con man, are the type of people who won't let Edmonton move forward. Edmonton is what it is because of these type of people. Politics aside #freeEdmonton

Yup the same people who chased all the head offices out making people relocate or lose their jobs and both. It comes down to jealousy nothing else he has all that money and a mansion I have a ford focus and a bungalow the world is not fair.