Markham municipal council will vote today on a plan that would bring a 20,000-seat sports and entertainment centre to the Toronto area.
The $325-million GTA Centre would be built at the Unionville GO Station and the cost would be split between private investors and the local community. The complex would be owned entirely by the Town of Markham. The proposal, which requires a majority vote to pass, touts the facility as an ideal location for concerts, sporting and cultural events, as well as trade shows and community gatherings. Its proximity to Toronto could make it a direct competitor to the downtown Air Canada Centre for trade shows and concerts in the area. Graeme Roustan, head of the GTA Sports and Entertainment Consortium, calls the Greater Toronto Area an "under-served market" when it comes to sports arenas. He said the Greater Toronto Area is the only community that has 5 million people, and the market is growing by 150,000 people a year. Roustan said groups are trying to move the proposal forward as fast as possible because he plans to bid on bringing the World Junior Hockey Championships to Markham for 2014. While the consortium says the plan does not rely on hosting an NHL team in the arena, there is speculation that the arena could be used to lure a second franchise to the Toronto area in the future. Markham mayor Frank Scarpitti said the centre would not be like other sports venues across the country, where one event ticket would provide access to the entire centre. According to the proposal, the GTA Centre would create 600 construction jobs over the next two years and 886 positions once the arena is complete. It would also give the local economy an estimated $61.1 million boost annually. Via: CTVNewsPosted via email from Markham Real Estate Today with Asif Khan
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