In the WSJ, Thaddeus Herrick writes about cities that are building arenas, even though they lack a team to play in them.
Complete with a glass exterior and terrazzo floors, the $276 million Sprint Center is scheduled to open next year in this city's downtown.
The 18,000-seat arena is designed to help anchor a massive project that includes nine blocks of retail, residential and office space that local officials say will revive Kansas City's faltering central business district. Already, there's a waiting list for luxury suites. "It was what we needed to do," said Wayne Cauthen, Kansas City's city manager.
There's just one problem: Kansas City has no major-league team to play there. The city is hoping for a National Hockey League team, but so far it doesn't even have a minor-league tenant for its new venue.
Amazing. It should come as no surprise that such projects operate at a loss. RTWT.