Any recent news on the determined site and start date? I have heard or seen nothing in months.
Any chance it gets built by 2030? 🙄🙄
Any chance it gets built by 2030? 🙄🙄
New Basketball Arena....
- Thread starter pwestbro61
- Start date
l personally believe these NIL donations will take money away from donations for facilities. l don't see anything much happening to build or improve in the near future. This is strictly my opinion, but gonna be hard to get donations for both and l think NIL will come first with most donors.
Basketball is ALWAYS put on the back burner. This arena should have been built 20 years ago. The administration always finds a reason to put it off. It never fails.
What does it matter if I did or have not? Basketball has taken a ridiculous back seat facility wise. They have now waited so damn long that inflation and higher interest rates will now be the reason/ excuse.
The last thing I remember being mentioned was Byrne saying something about it being in the architects hands or maybe they were taking bids for architects. Which in turn would be shown to the BoT and then costs recalculated. Though he didn't spell it out it sounded like they were already walking back some of the plans they touted when the first drawings were announced.
In a way, if this is delayed a bit the housing and construction market chilling could maybe help this project. The out of control spike in costs of materials and resources was going to price this arena into being a tall warehouse with some bleachers on the sides.
There have been a lot of construction projects have the emergency break pulled on them when revised costs get rolled up. Back in late spring I heard of a few building projects that were all but ready for ink on paper with work to start the next day. Then the quote got revised for costs and the project ends up being 100 to 200% over what had been quoted all along and the bank says NOPE. So the project turns into a someday maybe thing.
In a way, if this is delayed a bit the housing and construction market chilling could maybe help this project. The out of control spike in costs of materials and resources was going to price this arena into being a tall warehouse with some bleachers on the sides.
There have been a lot of construction projects have the emergency break pulled on them when revised costs get rolled up. Back in late spring I heard of a few building projects that were all but ready for ink on paper with work to start the next day. Then the quote got revised for costs and the project ends up being 100 to 200% over what had been quoted all along and the bank says NOPE. So the project turns into a someday maybe thing.
Labor prices are higher today than ever, and interest rates have doubled(to date), but the construction materials today, if you can even find them, are 300% to 600% higher on average than they were two years ago. I just had a meeting this week about potentially developing some land, and the construction prices are so unbelievably high I don’t know how anyone who isn’t just burning $ for warmth could build anything. In 30 years of doing this, I have never seen anything remotely like it.
I wonder if all of these products are really in that short of supply or companies are price gouging hiding behind the pandemic. Cannot tell me a bunch absolute thievery and companies trying to make up for the pandemic years is not going on.
I am not saying some of that is not going on, but it is still basic finance 101 that I learned at 12.
1) when demand is high, and supply is low, the last thing you due is artificially infuse the economy with $6 trillion. Thus increasing demand much more.
2) The other last thing you do under these circumstances is pay people more $ not to produce anything for a long period of time. Thus, decreasing supply even more.
I’m addition, passing harmful legislation:
3) Give states unneeded capital to prolong payments to people not producing anything.
4) Suspending $2 trillion of government handed out student loan payments for almost 3 years, and then adding another $1/2 trillion dollars in loan forgiveness(really long term debt transferral) when inflation #’s are at all time highs.
5) Immediately suspending 15% of a country’s energy supply, while spending $60 billion going to war with one of the world’s largest energy producers.
This is not meant as a political post, just the facts of why we are at where we are at, and why things aren’t improving on these fronts.
Agreed. Both the previous and current administrations printed money out of nothing to cover for shutting down everything and made it be acceptable to do nothing and be paid for it. Now we can't act like nothing happened and pointing fingers requires a lot of hands because there are a lot of political creatures that led us to this mess.
For the construction situation I would throw in this fad of monster investment groups like Blackrock that walk in and pay 50% or more over asking on homes. That spurs construction to double down on building more homes that turn into investments further sucking down material supplies. Such an ugly thing that too many don't know about unless they had a house they were in line to win a bid on get sniped by some faceless entity paying much more than they could even hope to borrow.
Or it’s sitting on a ship somewhere. I know some things are sitting there. A company can’t price gouge when they can’t get the product here to sell.
