Ministry of Energy, Mines and Natural Gas , Factsheets

FACTSHEET: BC Place budget

http://www.newsroom.gov.bc.ca/ministries/energy-mines-and-natural-gas/factsheets/factsheet-bc-place-budget.html
Friday, January 18, 2013 6:04 PM

The final budget for the revitalization of BC Place was $563 million and the final expenditure on the project was $514 million. The project was completed $49 million under budget primarily through savings achieved during the Phase 2 Retractable Roof project.

BC Place Budget Timeline:
  • January 2009 - The Province of BC formally announces a $365 million funding package to revitalize BC Place Stadium.
  • October 2009 - Interior Upgrades were completed. The total cost for these renovations was $55 million. 
  • October 2009 - Following a detailed planning and tendering process, the Province announces a budget of $458 million for the Phase Two Retractable Roof and Associated Upgrades project.  The retractable roof is to be constructed under a fixed price contract.
  • August 2012 - PavCo announces final expenditure for the BC Place revitalization project is $514 million, $49 million under budget.
BC Place Budget Breakdown
  • The overall budget for the complete BC Place stadium revitalization project was $563 million.  This included a loan from the Province of $150 million, a capital grant of $277 million, and another $40 million in deferred maintenance costs.  Pavco contributed the remaining $96 million.
  • The budget was approved to ensure BC Place received a new retractable roof, plus significant upgrades to the structure and the interior which would extend the life of the facility and put it in a better position to generate more revenue.
  • BC Place's revitalization was completed under budget and is broken down as follows:
    • Retractable Roof and Stadium Revitalization - $388.62 
    • Deferred Maintenance - $40.00 
    • Furniture, Fixtures & Equipment - $8.69 
    • Interior Upgrades- $54.11  
    • Structural Upgrades - $22.70 
    • TOTAL EXPENDITURE - $514.12 million          
Additional Information About BC Place:
  • The new stadium is expected to generate an estimated $100 million in economic activity per year - up from $58 million per year prior to the revitalization.
  • The award-winning BC Place is Canada's premiere multipurpose stadium venue, and is attracting more new-and-exciting international business in world class entertainment and sports events than ever before. 
  • The new BC Place is expected to serve the province for the next 40 years.
  • The $100 million figure quoted in a letter from PavCo's former Chair to the City Manager in January 2008 was not a budget.  At the time the letter was written, PavCo was considering renovations including a more minor, pillow-type roof replacement.  
  • If a new, similar stadium was built, it would cost more than $1-billion. 
BC Place Revitalization - What's Included:
  • New retractable roof.
  • All-new centre hung video board - may be raised or lowered depending on event 
  • Two largest sideline HD video screens, second largest centre hung screens in North America (behind Cowboys Stadium in Dallas, TX).
  • Seating capacity: 54,500. All new, wider stadium seats now include cup holders.
  • Secondary roof system between the lower and upper tiers of the stadium creates a more intimate atmosphere for events with capacity around 22,000 seats.
  • Permanent FIFA-approved Polytan LigaTurf 240 RS+ all-weather turf; is covered with a custom floor cover for concerts, exhibitions, shows and other special events.
  • Louvers at lower edge of roof may be opened or closed to increase air circulation.
  • New brighter lighting system provides illumination required by HD television broadcasts.
  • New state-of-the-art sound system. 
  • Improved acoustics with sound-absorbing panels near roofline.
  • 1,150 new digital screens throughout the building.
  • 800 WiFi points throughout the stadium for wireless devices such as ticket scanners, concession stands registers, and fans' wireless devices.
  • 1800 linear feet of ribbon board displays graphics throughout the inner-bowl.
  • 800 LED lights adorn the outdoor cable system supporting the roof.
  • "Northern Lights Display" consists of a 36 foot façade that reflects light and creates colour animations for events and to bring attention to community-based initiatives such as Cancer Society's Daffodil Day, and Pink Shirt Day for Anti-Bullying Awareness. 
  • New lower level retractable seating brings fans closer to the field action than ever before.

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