We are currently a cat 1 academy - but as Webber says, our facilities are the worst of all cat 1 academies, and have put off numerous prospects in the past (for anyone who has been to Colney, those portacabin things are just awful)
So this building is not only a good superficial thing, but it'll have all the state of the art equipment, facilities and resources needed for youth and first team players to progress. Ie. an actual gym (rather than some bikes in a conservatory as it is at the moment), actual pitches, proper training rooms and dressing rooms etc - to make our academy facilities some of the best in the country and thus help with bringing through more youth.
It makes sense - really it is amazing McNally and Moxey beforehand didn't invest in the facilities when we had Premier League money - but it's an exciting development imo. If they can raise the funds that is