EDMONTON – New details released Thursday describe Edmonton’s proposed performing arts centre as an $850-million project that will help transform downtown.
The non-profit group behind the scheme hopes to start construction in July 2014 on a development that would include an open-air galleria, a 1,600-seat theatre and three smaller spaces, a 600-stall underground parking garage and an office tower, according to a city report.
The Edmonton Academic and Cultural Foundation wants the city to look at acquiring the public school board’s maintenance facility at 10515 100th St., which from the foundation’s diagrams would be the site of the large theatre.
“The value of this visionary arts and culture initiative is that it is positioned as a tangible element to create a vibrant, pedestrian-focused integration of several projects that are transforming Edmonton’s downtown,” says a report.
About half the space in the development, located in a couple of blocks north and west of the CN Tower, would be taken up by the University of Alberta’s school of music, faculty of art and design, and one other discipline.
This move alone would bring 5,000 to 10,000 students, faculty and staff downtown every day, says the report.
“In addition, future student residential components could be considered, further enhancing community connections for the university while leveraging the creation of a fine arts centre in the heart of Edmonton.”
One of the two projected university buildings would be under what’s shown on diagrams as a curving office tower at the corner of 101st Street and 103A Avenue, about one hectare of land that’s now largely a parking lot.
It was bought for the foundation in February using a contribution from one unidentified member, part of the $20 million worth of pledges collected so far.
The group wants to raise $100 million from donations and grants plus another $100 million in government funding for land and the galleria, borrowing the rest and covering the cost by leasing space to the U of A and other tenants.
It hopes to complete the project in time for Canada’s 150th birthday on July 1, 2017.
An economic impact analysis by PricewaterhouseCoopers indicates the project could generate $2.7 billion worth of spending over the next 30 years, according to the report.
“One of the major benefits of the financial model being proposed is that the City of Edmonton will gain four new theatres that are to be financially self-sufficient, not requiring ongoing subsidies.”
However, there may be challenges ahead. The foundation sees a key role for the “cultural corridor” proposed along 99th Street near City Hall as part of a Civic Precinct, but city councillors have derailed this plan because it’s too expensive.
As well, an undetermined part of any city money for the performing arts centre will come from a community revitalization levy, using property taxes on downtown growth that will be spurred largely by a new arena.
But funding for the arena remains short and the project appears headed for a showdown at the May 8 council meeting.
Foundation spokesman Godfrey Huybregts wouldn’t comment on these issues before the report is discussed Monday by council’s executive committee.
The group is also among the organizations interested in taking over Chancery Hall beside Churchill Square if plans go ahead to move city staff to new space, said Rick Daviss, the city’s executive director of corporate properties.
They didn’t specify if they would buy the building or wanted it donated, he said.
“The foundation has said one thing they could see doing is taking the building into their portfolio to support the arts, maybe as office space for the arts or leased to produce revenue.”
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