What do you think of this project?


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This is distracting from the real issue, a DOUBLING of the Winspear project cost since the funding was awarded. It's not even primarily inflation! They kept adding bells and whistles until the project ballooned way out of budget. I am a regular patron of the ESO and most years buy a subscription. Love the Winspear but this this project has gotten way out of hand. The City should think very carefully about rescuing the Winspear foundation from this, we have our own financial problems to deal with. This chart from the report is very informative.

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Regarding the funding shortfall for this project, which seems to have fallen on the city to support, I see in the $427 million Downtown Investment Plan released by various dt business groups in October, there is $34 million ask for this project from the Province.

I believe the provincial budget is coming this week - what are the chances? Ha

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It's beautiful, so what exactly is the expansion for? Will the Edmonton Orchestra still be in the same old spot?
There's a lot of detail upthread but the short answer is: a new, more intimate theatre and lots of new educational/programming space. Notably, the Winspear is taking over the Conservatory of Music from MacEwan so I imagine they'll need the space.
 
Regarding the funding shortfall for this project, which seems to have fallen on the city to support, I see in the $427 million Downtown Investment Plan released by various dt business groups in October, there is $34 million ask for this project from the Province.

I believe the provincial budget is coming this week - what are the chances? Ha

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Province should pay……they’re paying a 1/3 rd of a something called Arts Commons in YYC - looks like a $400M Citadel theatre….btw….could you imagine being a taxpayer down there? Whewwww! Their debt must be 10X of ours…...
 
Who wants to start a demolition company with me? Pretty good margins on demo one would figure?
 
Well, we just saved 30M of already budgeted cash by not having to pay to demo the Coliseum. This seems like a pretty good place to redirect those funds to
Yes, it looks like the facility will be quite good and will benefit the community and area. If the city has concerns, fine hold Winspear to the fire a bit, ask for an audit and loan guarantees.

I suspect in the end an audit will conclude the cost overruns were due to construction cost inflation which was common around that time, but the city can say its done due diligence and help out.
 

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