It’s been nine months since I wrote my first post about the proposed Wodonga Cinema Centre, and I think that today it’s less likely to happen than ever.
My basic reasons for dismissing this development are unchanged, I think that the Regent Cinema in Albury already services this area well, the site for the proposed cinema will further fragment the already disorganised Wodonga CBD and the cinema business, nationally, is still in fairly rocky shape (have a look at my original post to see these points fleshed out further).
Since February, however, what was being referred to at the time as a credit crunch has turned into The Global Economic Crisis™ and our economy has soured along with it. The current financial situation turns what was, in my opinion, a marginal project at best into an absolute dud.
In addition to this, Quest Apartments finally get around to opening their 104 room Albury property in a few weeks, meaning the serviced apartments slated for the Wodonga Cinema Centre will be entering an even more crowded market at a time when it is fair to assume that both business and personal travel will be on the decline.
I certainly hope, for the sake of the rate-payers in Wodonga, that the soon to be elected Wodonga Council look very carefully at this project before they waste any money on what can only be described as a vanity project.