After months of tense debate and more than a year of secret negotiations, the Hartford city council has approved the vaunted $350 million Downtown North development, which includes construction of a minor league baseball stadium.
Was it the right move? Frankly, we’ve been apprehensive to give the development a full stamp of approval because it’s been nearly impossible to sort out the numbers and determine if it makes economic sense. Even with the city council’s approval, the project’s finances still aren’t wholly clear and some of the revenue projections are suspect.
Make no mistake, Downtown North is a risky development. Hartford can’t afford a major swing and miss here because it will have serious negative consequences on the city’s finances and tax rate. We abhor the way Downtown North was rushed through the pipeline and how the terms and scope of the project changed daily, making it hard for the public to grasp the project’s true economic virtues.
But all city stakeholders — including the project’s opponents and the business community — must now get behind Downtown North. There are no benefits if the project fails. And if it succeeds by adding hundreds of new permanent jobs, expanding the tax base, and serving as a magnet for more people to live in and visit the city, then it will add to the dynamism currently sprouting in Hartford.
Corporate support, particularly for the stadium, will weigh heavily on the project’s success. The ballpark will include 16 corporate boxes that must be filled if the stadium is going to deliver on its revenue projections. But there is more at stake than just simple sponsorship opportunities.
The growth of Downtown North could be the additional spark that makes Hartford a more attractive place to live and work, particularly for young professionals. That’s a key cohort the city and its largest employers must attract, particularly as Hartford and the state face an aging workforce that needs to be replaced.
There’s been plenty of frustration aired about the Downtown North development, but it’s time to move forward and figure out ways to make it a success.
XL Center must now be focus
With the Downtown North decision in hand, and that $350 million project moving forward, it’s time for the city, state, and business community to refocus its attention on XL Center.
The long-term fate of the 40-year-old facility could literally make or break the city and its entertainment scene, giving it much more gravitas than a minor league baseball stadium.
The aging venue, which draws over a half-million visitors each year, provides the lifeblood for local downtown businesses, feeding restaurants a steady stream of patrons on event nights. The XL Center, however, will need to be overhauled or rebuilt as its useful life dissipates. By the end of this year, a study commissioned by the Capital Region Development Authority will determine if the arena can be refurbished in its current footprint, or if the city and state will need to build a totally new facility. Either recommendation will come with a hefty pricetag starting at about $150 million.
If Hartford wants to continue its renaissance, it needs a top-notch entertainment venue to draw residents and visitors. A minor league baseball stadium is nice, but it’s not a year-round facility. We haven’t heard much from politicos on the topic lately because it’s election season, but XL Center’s fate largely will rest in the hands of the governor and state legislature, who will ultimately have to approve the funding.
In recent interviews with HBJ, both gubernatorial candidates (Gov. Dannel P. Malloy and Tom Foley) didn’t promise a major funding commitment for XL Center, but they didn’t reject the idea either. While many economists call into question the economic impact of stadiums or arenas, make no mistake, the XL Center is a significant economic driver for downtown. Its fate will weigh heavily on the future of the Capital City.
