After getting their proposal shot down in 2011 to build a mega-casino, Paragon Gaming has returned with another idea: to build a luxurious sports-entertainment district similar to the one in LA. To me this sounds like a great idea, but why is Vancouver not Vegas still petitioning against them? I understood why the mega-casino was a bad idea, it promoted gambling which can increase the debt rates in Vancouver. Additionally, it was an economically inefficient use of the land.

This new proposal by Paragon Gaming satisfies the government regulations and clearly states their intention is to not expand the gambling area. The location of this “sleek new design by architectural firm IBI Group with a glass-fronted structure, bookended by the hotel buildings” will attract more foreigners and generate more income for the local economy. According Globe and Mail, an economic impact assessment commissioned by Paragon, the project would create about 2,000 jobs and generate $180-million a year for the local economy, as well as annual spin-off spending of $87-million.

Though the downside of this project would be an increased volume of traffic on main street, which is already proven to be an issue. The development of this project would also mean that the City of Vancouver need to increase the number of lanes on the road. This urban resort might not be able to generate enough revenue to offset the cost of renovation to BC Place.

As a city dweller, I think this new project would help develop the False Creek area into a more exciting place to be. Additionally, this resort will give residents of Vancouver an option to escape reality and relax. Since BC Place attracts many people annually, having a nearby hotel will be beneficial, especially after late night events and concerts.

http://www.vancouversun.com/Paragon+Gaming+offers+million+resort+proposal+Place+lands/8952619/story.html

http://www.theglobeandmail.com/news/british-columbia/casino-company-rolls-dice-again-on-downtown-vancouver-development/article14504321/