Fantastic Place

[NAB]

Nope LOL. Just do a simple re-roof or roof repair. But then if they did that it may not attract a private sector buyer as easily as spending millions of taxpayer $ on a retractable roof first. A retractable roof doesn't make much sense in Vancouver anyway ;-)

Nab

[French Castanut]

Reading the posts remembers me of the fantastic 40M$ roof they installed in 1998 on our 4G$ national toilet bowl :



Oops.. They forgot we're in Canada.... and in winter it SNOWS outside! As much as it rains in Vancouver:

Here what happened with the roof in 1999, less than one year after it was installed:



40M$ flushed away and tons of snow on cars that were in the stadium for the MOntreal auto show...

Cost to build a new roof: 300M$
Cost to demolish the stadium: 700M$
Revenues generated per year: 20M$

Well.. make your own calculations.

[logicalview]

A retractable roof doesn't make much sense in Vancouver anyway ;-)

Nab

Naw, didn't think you'd recognize the prurpose of Pavco. Didn't think you'd muster a comment that it generates over $700 billion this year for Vancouver's tourism industry.

Here's what Pavco has accomplished at Fantastic Place sine 2008...

Interiors - 100% Complete

Structural Upgrades - 100% Complete

Major Maintenance - 100% Complete

Furniture, Fixtures and Equipment 100% Complete

Retractable and Seismic Upgrades 100% Complete


It's really too bad the Ivor Winn'ers are such economic fuddy duddy's.

[MAPearce]

Saw on Global news last night that the roof " leaks".......

[logicalview]

Saw on Global news last night that the roof " leaks".......

"Leaks" is quite correct.

He said there are no leaks in the retractable portion of the roof, which is made of a material called ‘Tenara’ that is manufactured by the company behind Gore-Tex.

The problem is with some seals in the non-moving portion of the roof, where there are still a few temporary seams that need to be welded permanently shut.

“We probably need ten days of good weather to complete work that’s up there,” said Crosley. He interpreted ‘good weather’ as no rain.

[flamingfingers]

Sunday, November 13, 2011

Some targets are easier to make than others

Forget land costs, interest, management and operating expenses; BC Place still needs $2.5 million a month to break even. That represents amortization of recent renovation costs over 20 years. Of course, the actual revenue needed for break even is much higher because of the other costs.

Let's consider how business is faring.

BC Place shows 17 event days on their November calendar. However, to achieve that number, they stretch the truth. There are only three real revenue days, two BC Lions home games and the Grey Cup.

Add the Vanier Cup and two days for BC High School Football playoffs. In its first 46 years, the Vanier Cup, Canada's university football championship, has been held in western Canada once, when the 2006 version attracted about 12,000 fans in Saskatoon. Spectators for the November high school games, beyond a handful of family and friends, would have filled a phone booth. The remaining 11 event days are zero revenue "Move In" and Move Out" days and a media day preceding the Lions last regular season game, which filled half the stadium.

The students are back for the High School Football Championship on December 3. That is the only public event for the month. No wonder, PavCo didn't produce a business plan before it spent $563-million renovating the stadium. We can be sure the facility will lose at $25 million bucks a year and larger government subsidies will be needed to keep paying those six figure bonuses to PavCo's senior executives. Of course, they'll only be paid those extras if the facilities meet targets, which may explain how three revenue producing days in November can be treated as 17 event days.

Read the comments here:

http://northerninsights.blogspot.com/20 ... l#comments

[flamingfingers]

Wednesday, March 7, 2012

Grease is the word at B.C. Place Stadium

Yet more troubles with the new roof at B.C. Place Stadium, where taxpayers are on the hook for the renovation budgeted at $563 million.

Grease has leaked from the roof support cables and damaged the fabric roof. The cost to fix it could be $10 million. I broke the story March 6 in Business in Vancouver. Read it here.

The problem was identified before the roof fabric was installed. Will it be covered under warranty? If roof panels need to be replaced this summer (the driest part of the year, how will that affect the Vancouver Whitecaps and B.C. Lions?

It makes you wonder if and why Telus would still want its name on the building.

Posted by Bob Mackin at 7:44 AM 0 comments
http://2010goldrush.blogspot.com/