Would you invest YOUR money in a restaurant or business located in the “perimeter of the building”? Try walking into your bank with that business plan and see what they say.
Today? No I wouldn't, not with the arena in limbo and not enough concrete plans and development for the area. As I stated above though, if they set aside some space for a restaurant closer to 17th ave and the c-train and another spot closer to the future arena, and they properly execute a true destination vision for the area, then yes I would invest in it absolutely.
Isn't that the problem then? If the bank rejects me, isn't that an admission in and of itself that the district is a failure as a whole? Shouldn't an entertainment district be able to support retail and restaurants 24/7? If there is no business case for a restaurant or two fronting the convention center (especially one on the corner of Olympic Ave and 17th which should be the epicenter of the district), than what the hell is CMLC proposing and why are we wasting our time with this district?
The district succeeding is dependent on substantial residential first and foremost, then proper destination retail and entertainment (restaurants, clubs, maybe a movie theater), a hotel or two, and finally the convention center and arena. Proper entertainment venues like restaurants and theaters/clubs feed off each other. One on its own may not be enough to attract people, but having a bunch of them together in close proximity builds that draw.
I guess it's the chicken and the egg argument. Will my restaurant be enough to attract people? if not, what needs to be built first so that i can build a restaurant in the area. Is the arena enough to tip the tide? Do we need 5 more condo towers first? Is it a hotel? A theater? Someone has to take the risk and kick start things. Maybe it can be the BMO, but what will draw people there outside of a convention? They did not leave the door open to find out.
Ok I've said all I need to say about the BMO. I won't comment again until its grand opening and I check it out for myself in person! I hope I'm wrong as I want this area to succeed.