$120M Playland redevelopment could double annual revenues

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

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

UPDATE: Surrey RCMP say missing three-year-old boy likely with his mother

Police appeal once again for information that will help them find Brycein Toane

Surrey mayor says the RCMP has announced it will unionize

A spokeswoman for RCMP headquarters in Ottawa says it’s not yet a done deal

Surrey man wanted on Canada-wide warrant for drug trafficking turns himself in

Police had issued a public appeal for information in mid-June

Surrey brewpub’s 20th-year ‘Cask Off’ championship belt won by its head brewer

‘Jason’s Mimosa’ among crafty creations at annual competition

VIDEO: Surrey man charged after dangerous driving incident in Vancouver

Toyota Camry spotted doing laps in intersection, driving towards pedestrians

VIDEO: Clip of driver speeding past B.C. school bus alarms MLA

Laurie Throness of Chilliwack-Kent says he will lobby for better safety measures

Explicit sex-ed guide for adults mistakenly given to Creston elementary students

The booklet clearly states online and inside that the guide contains sexually explicit information

Driver has $240K McLaren impounded minutes after buying it in West Vancouver

Officers clocked the car travelling at 160 km/h along Highway 1 in a 90 km/h zone

Former Vernon Judo coach pleads guilty to child pornography charges

Bryan Jeffrey McLachlan is set to return to court Sept. 4 for sentencing

B.C. Olympic skier sues Alpine Canada after coach’s sex offences

Bertrand Charest was convicted in 2017 on 37 charges

Former Canucks goalie Roberto Luongo to retire

‘Bobby Lou’ calls it a career after 19 NHL seasons

Man charged in crash that killed B.C. pregnant woman

Frank Tessman charged for 2018 Highway 1 accident where Kelowna elementary school teacher died

Province unveils 10-year plan to boost mental health, addiction recovery services

The plan, called A Pathway to Hope, focuses on early-intervention services that are seeing high demand

Most Read