New Stadium Details And Discussions

[dagraham]

It's not good news though is it, whichever way you spin it?

We're now going to be using the revenue from sponsorship, housing sales etc to finance an additional 1/4 billion in debt. That's money that could have been allocated elsewhere, but is now going to used to pay off the huge costs we've incurred for the project overruning.

How is that anything other than bad news?

Plus Phase 3 ( housing and hotel) hasn’t even begun yet and it could be years until there is a return on investment. Not to mention there could be delays before that even begins to be put into action.

I think we’ve always known we aren’t going to be throwing money round as soon we move into the stadium, but delays and spiralling costs are just going to mean more frugal seasons regarding investment in the football team.

 

[sly1]

Yeah, I accept that, and have no doubt that DL will get the best deal for the club under the circumstances. I just think the "the expected consequence of late completion of Phase 2" is being somewhat dismissed as a non-issue, when that clearly isn't the case.

No one has said it's a non-issue or good news. It's not even a straw man - it's a completely made up point.

 

[spursfan77]

Plus Phase 3 ( housing and hotel) hasn’t even begun yet and it could be years until there is a return on investment. Not to mention there could be delays before that even begins to be put into action.

I think we’ve always known we aren’t going to be throwing money round as soon we move into the stadium, but delays and spiralling costs are just going to mean more frugal seasons regarding investment in the football team.

The return on investment was shit anyway. It was all revealed in that last council meeting before planning was signed off. the IRR was 1.2%

on page 12 here http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=776562

 

[spursfan77]

I was looking for the development appraisals for the hotel scheme a few months ago and have finally found it. So posted for your information!

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=949246

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=949245

 

[DiscoD1882]

You should be more responsible with your "jokes", then. Always bear in mind the rumour mill. It often starts with random, mordant "jokes".

Alternatively. I’ll just keep joking and not be morbid.

 

[davidmatzdorf]

The return on investment was shit anyway. It was all revealed in that last council meeting before planning was signed off. the IRR was 1.2%

on page 12 here http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=776562

I was looking for the development appraisals for the hotel scheme a few months ago and have finally found it. So posted for your information!

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=949246

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=949245

I write viability appraisals for developers. The version that was submitted by the club was, well, the club's version. It was in their interest to make the development look as unprofitable as possible, because that would assist their argument to minimise planning obligations such as affordable housing.

Routinely, the council would have commissioned their own viability appraisal in response to the applicant's. It won't surprise you to hear that council viability figures show developments to be much more profitable than developers' figures.

Isn't it funny how figures submitted by developers to their lenders always show the development as much more profitable than figures submitted to planning authorities? It's almost as if capitalism weren't an exact science!

 

[worcestersauce]

Yeah, I accept that, and have no doubt that DL will get the best deal for the club under the circumstances. I just think the "the expected consequence of late completion of Phase 2" is being somewhat dismissed as a non-issue, when that clearly isn't the case.

It could be that the expected consequence of late completion means they can't complete or announce sponsorship leading to the club arranging a financial facility that will allow them to draw down finance as and when it is required until the stadium is completed and the sponsorship is announced.
In this case not all of the half as much again cost of the stadium mentioned will be borrowed, possibly not much of it at all.
I don't argue it is a good thing to have to arrange the facility, it isn't, it's a bloody nuisance pain in the arse but, try as I might, I still cannot convince myself that a three month delay to rectify an undeniable fuck up can cost over two hundred million pounds when building the whole bloody thing only cost four and a half hundred million, it just doesn't add up, are we really saying that all the groundworks, concrete, steelwork, pipework, internal fittings, rakers, roof, seating, revolutionary pitch assembly, lighting gantries and green green grass not to mention the PANELS AND PAVING, only cost as much as the electrics?

 

[Coq_Au_Ginge]

 

[coys200]

It’s actually quite amazing when you compare the aesthetics of the emirates to our stadium.

Ours will be so streamline with gorgeous glass curves everywhere. There’s honestly looks like it was built in the 80s with the ugly concrete slabs boring glass facade and exposed stand rakers.

 

[mark87]

Urgh, get that shit outta here.

 

[whitesocks]

Sounds like we are right on target for the 15th Dec opening then.... oh wait.
He does seem to have a good source of information, but he is clearly lacking enough detail to be able to determine when the stadium could open with any degree of accuracy.
And ultimately that's what we all want to know.

 

[davidmatzdorf]

This contains a lot of interesting stuff about the three way tug-of-war between the council, local residents and THFC over the wider regeneration plans for the neighbourhood. I can't vouch for the veracity of every paragraph, but none of it strikes me as bullshit or obviously distorted.

https://www.theguardian.com/footbal...pur-stadium-redevelopment-haringey-neighbours

 

[Phischy]

This contains a lot of interesting stuff about the three way tug-of-war between the council, local residents and THFC over the wider regeneration plans for the neighbourhood. I can't vouch for the veracity of every paragraph, but none of it strikes me as bullshit or obviously distorted.

https://www.theguardian.com/footbal...pur-stadium-redevelopment-haringey-neighbours

This is so interesting. Well worth a read. It seems clear the club (Levy and Lewis) are intent on completely changing that part of Tottenham and have made it a priority. I'll not speculate on the ultimate beneficiaries of such a move.

 

[coys200]

Imagine how much general property Levy has bought up.if they turn it into the new Islington most of it will at least double in price. Know a few that bought property 3 years ago. Will make a small fortune.

 

[spursfan77]

This is so interesting. Well worth a read. It seems clear the club (Levy and Lewis) are intent on completely changing that part of Tottenham and have made it a priority. I'll not speculate on the ultimate beneficiaries of such a move.

Nothing has really changed. The club's owners want to regenerate a part of London neglected by successive governments since the second world war. The council don't want to help, or don't want to help enough to change it and lose votes. Existing residents and businesses effected should be reimbursed in some way, I agree with that but not at the expense of the bigger picture.

I would trust the club more than the council to develop the area. After all they've done more for the area in the last 10 years than anyone else. If its not done now, it never will be.

 

[greaves]

Imagine how much general property Levy has bought up.if they turn it into the new Islington most of it will at least double in price. Know a few that bought property 3 years ago. Will make a small fortune.

Houses. Hotels. £50 from Community Chest.

 

[Saoirse]

Let's be entirely honest. If you left this up to Levy and Lewis, Love Lane would be knocked down quicker than you can say Emmanuel Adebayor to be replaced by a budget block in the back of beyond. No way do they want council housing in the way of the main access point to their shiny new development. And fundamentally they want the local area to be gentrified to push up the local property values. Haringey want to improve the area for local people, Tottenham want to improve the local people for the area.

 

[midoNdefoe]

It bothers me that not even Levy knows the date

Have you ever built any property?

 

[greaves]

Let's be entirely honest. If you left this up to Levy and Lewis, Love Lane would be knocked down quicker than you can say Emmanuel Adebayor to be replaced by a budget block in the back of beyond. No way do they want council housing in the way of the main access point to their shiny new development. And fundamentally they want the local area to be gentrified to push up the local property values. Haringey want to improve the area for local people, Tottenham want to improve the local people for the area.

Neatly put. (Though E Adebayor is quite slow to say. Santini is marginally quicker and lasted consierably less time!)

 

[LexingtonSpurs]

Pretty soon we're going to have to change the name of the thread to: Old Stadium Details and Discussions