A Vancouver Centre for Arts, Entertainment and Culture · culturally rich and sustainable...

A Vancouver Centre for Arts, Entertainment and Culture

PREPARED FOR

Vancouver Board of Parks and Recreation City of Vancouver

PRESENTED BY

Aboriginal Tourism Association of British Columbia

A VANCOUVER CENTRE FOR ARTS, ENTERTAINMENT

AND CULTURE

Introduction

The Aboriginal Tourism Association of British Columbia (AtBC), is a non-profit, stakeholder-based organization, mandated to grow a culturally rich and sustainable Aboriginal tourism industry.

AtBC is the central resource for Aboriginal entrepreneurs and communities, operating or planning a tourism undertaking. We offer training, information resources, networking opportunities and cooperative marketing programs.


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Introduction (cont.)


AND CULTURE

Introduction (cont.)

One of our core visions is to develop an Aboriginal Arts, Entertainment and Culture Centre that will be a international calibre attraction for visitors becoming one of Vancouver's top tourist attractions.

To prove out this ambitious goal we commissioned an independent market and financial feasibility coupled with preliminary development costs.

While costly, the study highlighted the an exceptional

opportunity and economic sustainability for the Pavilion at the current Klahowya Village site.


AND CULTURE

Site Analysis

The Stanley Park location has very positive attributes from a market and development standpoint.

These include:

A natural setting compatible with the Pavilion

Proximity to major Vancouver hotels,

Close to well established visitor attractions

Good parking and transportation access

Established and serviced site

Walking distance for employees and visitors


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The Building Concept

Aboriginal Pavilion Key Spaces: Square Feet

• The Great Hall (320 people) 6,400

• The Trading House 3,000

• Outdoor covered work spaces 3,000

• Performance Stage 2,000

• Offices 2,000

• Tourism training 2,000

• lobby /pre-function area 1,600

• Cultural exhibits 1,000

• Ancillary circulation space 14,000

The gross building area 35,000


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Capital Cost Summary

Project Component: Cost

Site Work & Building $13,700,000

Furnishings Fixtures & Equip. $ 2,235,000

Exterior Works $ 1,500,000

Aboriginal Art / Exhibits $ 1,000,000

Soft Costs & Misc $ 5,445,000

Subtotal $23,880,000

Contingency $ 2,338,000

Total Development Cost $25,718,000


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Financial Summary

ITEM Year 1 Year 4 Year 7

1. Operating Revenues $3,231,000 $7,814,000 $8,768,000

2. Operating Expenses $3,232,000 $7,034,000 $7,830,000

3. NOI Before Financing -$ 1,000 $ 780,000 $ 938,000

4. Mortgage Payments -$ 454,000 -$ 454,000 -$ 454,000

5. NOI After Financing -$ 455,000 $ 326,000 $ 484,000


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The Rewards to The City of Vancouver

Enhancing Vancouver Parks cash flow

Investment into the economy

Sustainable Job creation

Diversify Vancouver cultural attractions

Strengthening Vancouver tourism

Enhance the BC economy

Building Aboriginal relationships


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Next Steps

AtBC intends to aggressively move forward with the next phase of the Aboriginal Pavilion.

Key short-term tasks are:

1. LOI between AtBC and Vancouver Parks outlining general business arrangement for the Klahowya Village site;

2. Concept architectural planning, space programming and costing;

3. Detailed business planning.

The pre-development planning is anticipated to take approximately 10 – 14 months to complete.


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The Thank you

We thank you for the opportunity to present to you the AtBC vision for the Aboriginal Pavilion

AtBC looks forward to a rich and rewarding relationship with Vancouver Parks and Recreation.

Keith Henry,

President

A Vancouver Centre for Arts, Entertainment and Culture · culturally rich and sustainable...

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