Consultants hired by the city of Thunder Bay say a location in the north core near the waterfront makes the best economic sense for a proposed arena and convention centre.

At a briefing for news media Wednesday, the consultants said a downtown location will provide more spinoffs and synergy between the event centre and the north core, as well as Prince Arthur's Landing.

New infrastructure, such as a parking structure, could be shared with the waterfront and downtown businesses, they added.  By contrast, building a million-square-foot parking lot at a more isolated location like Innova Park would cost $10 million.

Their report said the 5,700 seat arena and 50,000 square-foot conference centre could attract about 180 events a year.

City council will receive more information Monday about the recommendation.

The public will be able to see the proposal at an open house on Nov. 21. Council is expected make its final choice Nov. 26.