$120M Playland redevelopment could double annual revenues

Attendance could jump 50 per cent, but admission could rise 40 per cent

A $120 million

A $120-million, 10-year proposal to redevelop Playland was presented Tuesday morning to Vancouver council, with a potential doubling of the park’s annual revenues.

But admission prices would also jump 40 per cent, according to the report presented by Michael McDaniel, president of the Pacific National Exhibition, and Patrice Impey, the City of Vancouver’s director of finance.

Proponents want to convert the city-owned Playland into a “theme park” with “softer landscapes, more green space, (and) improved sustainability features,” the report said.

Some $8 million would go toward greening the park, another $41 million to redevelop the site, $26 million for infrastructure improvements, and $45 million for rides and attractions.

Would you pay $50?

The redevelopment could boost attendance by more than 50 per cent, the report added, from the current 530,000 to 815,000 guest riders annually.

Revenues, in turn, could increase to $40 million, coupled with longer stays on the site that would stimulate more spending on food, beverages and games, as well as a 40-per-cent admission price increase.

Right now, a one-day pass to Playland costs $36 at the gate. If approved, that ticket would eventually cost $50.40.

“As the projected increase in admission price mostly reflects forecast inflation, it is not expected to pose affordability challenges for local and regional patrons,” said the report.

It also noted that 60 per cent of patrons are families with incomes of less than $70,000 per year who are “not in a position to travel to theme parks in other regions, such as Disneyland.”

The plan would be funded by either internal financing from the City of Vancouver, to be repaid through future PNE revenues, or a mix of internal financing and capital investment.

City staff recommended that council approve the plan in principle, and budget $1.5 million for the next phase of work that includes detailed design and costing, and a comprehensive implementation and funding strategy.

Vancouver council referred the report to a Wednesday committee meeting to hear from speakers.

Playland is the “economic engine” for Hastings Park, the report said, generating about $20 million each year and accounting for 40 per cent of the PNE’s total revenues.

The redevelopment is part of the larger Hastings Park/PNE master plan, which encompasses all of Hastings Park and will cost between $200 million and $300 million over 20 to 30 years.

Playland redevelopment report

Just Posted

AESS senior girls eyeing spot in basketball provincials

The team needs to move up one more ranking get a place in the championships

Agassiz man charged in 2014 snake venom death of toddler

Henry Thomas was taking care of the North Vancouver girl the day before she died

Chilliwack Chief Harrison Blaisdell climbs Central Scouting Bureau rankings

The 17 year old forward is now drawing a second round grade as CSB releases its mid-term list.

Classical paired with folk for Chilliwack Metropolitan Orchestra’s winter concert

Chilliwack Metropolitan Orchestra presents Tchaikovsky in America at G.W. Graham theatre

Community artists, amateurs wanted to create Kent anniversary logo

The 125th anniversary committee is hoping to choose a logo designed by the community

VIDEO: Harrison sailor looking for competitors to race model boats

Bernhard Van Velze is hoping to create a club for model sailboats at Harrison Lake

South Surrey mother didn’t have the intent to kill her daughter: defence

Closing submissions in case of Lisa Batstone underway

Anti-pipeline group wants NEB to consider impact of emissions, climate change

Stand.earth filed NEB motion asking to apply same standard to the project as it did with Energy East pipeline

Parole granted for drunk driver who killed B.C. RCMP officer

Kenneth Jacob Fenton will be able to attend alcohol abuse treatment, nearly three years after crash that killed Const. Sarah Beckett

B.C.’s largest public-sector union wants inquiry into money laundering, drugs

Union officials say Premier John Horgan and Attorney General David Eby have not ruled out the possibility of a public inquiry

Teen in confrontation with Native American: I didn’t provoke

Nick Sandmann of Covington Catholic High School said he was trying to defuse the situation

VIDEO: 11-year-old violinist practices for Vancouver Symphony Orchestra debut

Cloverdale student Da-Wei Chan will perform Jan. 31, Feb. 28 with the VSO

Kamala Harris opens U.S. presidential bid in challenge to Trump

The 54-year old portrayed herself as a fighter for justice, decency and equality in a video distributed by her campaign

RCMP ‘amending’ helicopter training after complaints in Surrey

Cloverdale residents say the Air One chopper was in the air for hours and flying at low altitudes

Most Read