PavCo to spend up to $365M on refurbished roof for B.C. Place - Metro
The B.C. Pavilion Corp. (PavCo) will spend up to $365-million to put a new retractable roof on a refurbished B.C. Place.
Work on the stadium, home to opening and closing ceremonies during the 2010 Olympics, began last year and will continue through 2012. The project will extend the life of the stadium by 30 years.
The $365-million price tag, which includes contingencies, will be largely self-financed through the development of lands surrounding the 25-year-old stadium.
Other money will come from expanded event business, sponsorship opportunities, cash reserves as well as operational and energy savings from the refurbishment.
Renovations include hosp itality suites, the extensi on of seating to field level and a draping system to clo se off the upper deck and end zones to increase its intimacy as a soccer venue.
The renovations are a key part of a bid by the Vancouver Whitecaps for a 2011 Major League Soccer expansion. The team has signed a lease to start their 2011 season in B.C. Place.