The ambition here has been pretty high - I'm not sure what more you could have wanted. Hamilton is an 800,000 market with fairly low median incomes, even lower disposable incomes, and a small list of potential corporate box buyers (the real money makers).
OVG is banking on overflow from the GTA, and I think they will get that right, but honestly I'm surprised by the amount of risk they took on here as it is in terms of investment. What we got was $300 million in private capital investment here - it's hard to get that much even in major markets.
Hamilton is never going to get something like Scotia Place in Calgary - which is a $1.2 billion project with $870 million of government subsidies.. and that's in a larger market with much deeper corporate pockets.
Hamilton just doesn't have the demographics or economy to support the scale of project you want, which requires deep government subsidies, deep local pockets, and a big-4 sports tenant to pencil. Hamilton has none of those. TD Coliseum is a small miracle in its own right.