If anything, the old power plant could be a major destination and draw... BECAUSE of where it is. Imagine patios out over the river, pump house restaurants, rooftop opportunities paired with art, culture, design in a family friendly setting to explore, learn more about the river, the history of Edmonton, indigenous culture/teachings and how about that amazing nordic spa concept Zabinski had. Tie it together with the gondola to have decent people moving capacity with very low impact and call it a day.
The Pendennis is due to underlying social issues and perceptions of that area, along with very little commercial demand.