I’m not saying arenas can’t be built with private money. I’m questioning whether they can be the “draw” the restores downtown areas.
Depends on the city. So far, the Arena District has been a great success for downtown Columbus. 41 Blue Jackets home games, 70 Clippers games and other assorted events in the arena and the new ballpark. 15 years ago that site was the location of the old Ohio Pen; decrepit and certainly not generating any revenue, tax or otherwise.
IMO, no. They destroy downtown areas.
They are too big and the parking requirements too great. Many cities’ downtowns have been destroyed by stadiums, convention centers, Olympic venues, etc.