“The Brandt Center, a classic yearArray. . . generates about $800,000 in profits,” Reid said at a news convention Tuesday morning. “This is really critical to the monetary viability of REAL. “
Regina Exhibition Association Limited operates the REAL District (formerly Evraz Place), the Brandt Centre, a 44-year-old stadium with an expiration date of up to 10 years, Reid said.
That’s why inquiries are underway about what to do with it: spend $50 million on renovations or more than $100 million for a new arena located on the REAL District campus or anywhere else in the city.
“Right now, we operate the Brandt Center on behalf of the City of Regina,” Reid said. “Obviously, if it were off-site and there was a personal investment, they might have another preference for an operator. “
Even though the Brandt Center’s profits are imperative to help the activities of other recreational services on the site that don’t make money, such as the Cooperators Center, he said REAL’s message to the city has been that if it can locate “substantial” personal investment for this type of project, it deserves to be taken.
“Our view is that if you can locate a personal operator who needs to do this and untie the burden from the taxpayer, we think that’s a wonderful suggestion and we’re going to inspire the board to move forward in this discussion,” Reid said. .
But he is confident that REAL is “in the best position” to operate the arena, no matter where it might end up due to its delight in the day-to-day management of the facilities, as well as economies of scale through its operation of the Mosaic Stadium and other assets.
In addition, he said Real’s studies of maximum productive practices show that, of the roughly 22 similar services that have been built in Canada over the past 25 years, the maximum is built through municipalities. There are NHL services in Canada that are built with a combine. of public and personal money, but not much, he said.
With more than 5,300 responses, Reid said the network will obviously be part of the discussion.
“In fact, I think the overall sentiment of the Brandt Center probably describes a construction that’s 44 years old: it’s a 3 out of 5. That’s pretty good. It works well for hockey. It works well for concerts. It’s not spectacular but it’s a position where we’ve all become accustomed to attending live sporting and entertainment events,” Reid said when asked what the biggest advantages of research are for him.
Phase 2 includes a second, more detailed online survey that will focus on the next steps for the arena. Three open days are also planned for the month where REAL officials will be available to answer questions about the survey or project.
Public input will be alongside studies on more productive practices and the economy to tell real’s recommendations to the board, which Reid expects to make in June of this year.
A new arena would have a capacity of around 10,000 seats. The most recent charge estimates put a new arena in the $100 million to $120 million range, but Reid says it would possibly be another now “with structure fees going up as they are. “
There are five imaginable locations vying for space for a new Brandt Center if a rebuild gets the green light: 3 in downtown Regina, The Yards, or somewhere else on the REAL District campus.
The first open day is March 23 from 6:00 p. m. m. a 7:30 p. m.
jackerman@postmedia. com
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