$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

ELECTION QUESTIONS: How do candidates form their opinions on transit in Surrey?

Who is on the right side of Surrey’s transit debate? That’s for voters to decide come Oct. 20.

Surrey wants BNSF to slow Crescent trains

Mayor Linda Hepner said ‘it’s the least we can do’

Rail-safety forum planned for White Rock this Friday

Event to include municipal, federal, provincial governments

White Rock open house to discuss city’s aquifer protection plan

Examination of potential hazards includes increased population, climate change

‘Connecting Threads’ and more in Surrey Art Gallery’s fall shows

Free admission at opening reception and panel discussion Sunday afternoon

B.C. RCMP turn to Const. Scarecrow to shock speeders into slowing down

New addition will watch over drivers from a Coquitlam median for first-of-its-kind pilot in Canada

B.C. woman facing animal cruelty charges after emaciated dog seized

Kira, a Rottweiler, had kidney and bladder infections

Kim agrees to dismantle main nuke site if US takes steps too

Kim promised to accept international inspectors to monitor the closing of a key missile test site and launch pad and to visit Seoul soon.

Dozens speak at Vancouver hearing that could see duplexes replace single homes

The city clerk says 73 people signed up to speak at the hearing that began early Tuesday evening and adjourned hours later with 34 speakers still waiting.

North Carolina gov pleads with storm evacuees to be patient

The death toll rose to at least 37 in three states Tuesday, with 27 fatalities in North Carolina.

North and South Korea say they plan to bid for 2032 Olympics

Moon and Kim announced a sweeping set of agreements including a vow to work together to host the Summer Olympics in 2032.

Russia’s reinstatement after doping scandal goes to a vote

The World Anti-Doping Agency is due to vote Thursday Sept. 20, 2018, on possible reinstatement of Russia.

Ontario wins stay on ruling that struck down council-cutting plan

The province had argued the stay was necessary to eliminate uncertainty surrounding the Oct. 22 vote, and the Court of Appeal agreed.

B.C. cannabis producer Tilray hits at $20-billion high as stock price explodes

This is the first export of a cannabis product from a Canadian company to the U.S.

Most Read