Convention centres, casinos, and sports arenas. Victoria Park is shaping up to be the 1980's wet dream of a neighbourhood.
I would suggest an old article by Harry Hiller, an urban geographer based out of U of C., titled: "Mega-events and community obsolescence: redevelopment versus rehabilitation in Victoria Park East" a good read on all the history here.
http://people.ucalgary.ca/~hiller/pdfs/vicpark.pdf
From a historic standpoint, the event centre is the latest in a long line of political, local elites and booster mega-project interference into a small area of our city. This very much is a continuation of the 1980s booster thinking - with the exception that urban real estate markets are quite different and many people do like living in the city centre. Selling the equivalent of $400K luxury condos in giant condo tower in the 1980s in Victoria Park would have been unfathomable at the time.
Political and local elite/booster interference is inevitable and is reflected at all scales of urban development. The current state of Victoria Park is reflective of the devastating power when the big money, the big events (i.e. stampede), the big politics and the big private-influenced publicly executed advantages are used to tip the scales in one area to a particular outcome. Behold:
1979: at the eve of the previous stadium debate.
2018: at the eve of the next stadium debate.
Victoria Park - as the former community - cannot be described as anything but a massive systemic failure in city building. All the actors (the City and it's policies, the city-subsidized Stampede, the sports team ownership, various boosters for conventions, Expo bidders, Olympic committees etc.) have done many good things for the city as a whole - but their actions have long been in direct opposition and at the cost of Victoria Park as a functioning neighbourhood. The neighbourhood didn't just die on it's own, it was taken apart systematically by the public and private actors claiming to be trying to save it (and Calgary).
As for the next iteration of the neighbourhood, I am much more optimistic. The planning, design and understanding of local economies and city-building have come a long way since the 1980s. It's popular to live and visit central areas. And whatever they do is only replacing parking lots.
But lets not forget those parking lots replaced homes and a community. In the 1980s, they were replaced by the same powers that are proposing the new plans (of course different people and a different time - with the exception of the stampede board as they are all a million years old.) Not that we should be suspicious of new plans - just that we should always be aware of what happens when local elite actors want something and the City helps them with public influence, public dollars and scale tipping. It can go very well or spectacularly devastatingly wrong.