Tuesday, June 3rd, 2008 at 3:28 PM
The City is discussing demolishing Reunion Arena and selling the site. Hunt/Woodbine have first right of refusal to purchase the site for 60 days after the city declares it surplus.
Right now, the city is losing about a million a year on Reunion. So why not just sell it?
Well, the real estate market, for one. It’s not a seller’s market right now (unless you’re selling land to the city for a hotel). If you had the option of selling your house right now or waiting for a market upturn, it would make more sense to wait.
If absolutely nothing can be done to utilize Reunion Arena before the market improves, then we could demolish it now and hold onto the land.
Another thing: Reunion Arena is incredibly close to the future Trinity Park, which could substantially improve the value of the property. Again, why sell now, in a buyer’s market? What’s the rush?
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