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"So this is real—real commerce, real development," he said. "It's in a place of the city that desperately needs real estate values to increase. It's in a place that desperately needs ancillary development other than ours. And I can tell you, even without approval, the interest in surrounding business and commerce and developers is off the charts. This truly is going to be the catalyst that transforms this part of Wisconsin."
The Bucks' new owners have invested "a ton of capital already," Feigin said, "linking to this project, as well as into kind of the improvement of the team, which you've seen in free agency, you'll see in the fan experience in the current arena, and you'll certainly see in the pre-development of this next arena. We're tens of millions of dollars into the project already. All of our cards are showing to get this done."
John Koskinen, the Chief Economist for state of Wisconsin, said on Bill Michaels's statewide sports radio program Friday that the Bucks contribute about $130 million to the state economy, an amount he says will increase in the coming years due in part to the increased "jock taxes" levied on visiting players who come to Milwaukee to play games—taxes that will increase as players make more and more money because of the new national TV rights deals.
"Consider what happens if the Bucks leave," Koskinen said on the program. "There should be no doubt in anybody's mind. The NBA will basically foreclose that franchise, and it will go. And we would never see it back, and there will be no replacement."
The Bucks argue that the arena project is the best—maybe, the last—chance to kickstart the downtown economy.
"This project differentiates a little bit in that it's more than just an arena," Feigin said. "This is an area...in downtown Milwaukee, or west of the Milwaukee River, this is an area that is currently desolate, with no development. Nobody lives, works, and few people play here. It is one of the central arteries of the city that currently does not connect to the other parts. For this, it's much more than just an arena. It's an arena that's the catalyst for commercial, residential and retail development that's all part of this. When you think of Kansas City, when you think of Oklahoma City, when you think of development and you think of L.A. Live, when you think of drawing magnets and creating traffic and creating commerce, and increasing real estate, this is a much different thought than 'hey, we're going to build a new arena next to the old arena.' The Bradley Center was built on an island. It really did not drive traffic, nor keep traffic and volume of people there. This is really transformational. We've got to build a district where people are here regardless of whether there's a Bucks game."