Wednesday, March 31, 2004
Buy Me Some Peanuts and Cracker Jack
Slate "Moneybox" columnist Daniel Gross examines the San Diego Padres' new Petco Park, which he says may be the first such facility "living up to its promise of revitalizing a run-down urban area."
Gross notes that as in return for the city's contributing $300 million toward the park's $454 million cost, owner John Moores was required to create at least $300 million of residential and commercial projects in the surrounding East Village area. Moores' efforts attracted other private developers, who are planning to build several thousand housing units in a formerly underutilized part of downtown San Diego. Gross concludes:
"Now if only urban economic development officials can figure out how to get people to build and live downtown without going through the hassle of building a $454 million ballpark."
|
Slate "Moneybox" columnist Daniel Gross examines the San Diego Padres' new Petco Park, which he says may be the first such facility "living up to its promise of revitalizing a run-down urban area."
Gross notes that as in return for the city's contributing $300 million toward the park's $454 million cost, owner John Moores was required to create at least $300 million of residential and commercial projects in the surrounding East Village area. Moores' efforts attracted other private developers, who are planning to build several thousand housing units in a formerly underutilized part of downtown San Diego. Gross concludes:
"Now if only urban economic development officials can figure out how to get people to build and live downtown without going through the hassle of building a $454 million ballpark."
|
