The ‘White Elephant World’ Of Funding Sports Stadiums Is Burying Cities In Debt – Bisnow

Bridgeview took out a $110M loan in 2005 to finance the construction of SeatGeek Stadium, a venue large enough to seat everyone in town, with plenty of room left over. Officials hoped the 20,000-seat stadium, originally known as Toyota Park and located at 71st Street and Harlem Avenue, would transform Bridgeview into an elite suburb. Instead, the town of 16,000 was buried in an avalanche of debt, and crawling out will take decades, if it can be done at all.