The city’s plans for a downtown arena simply don’t make financial sense
Two major projects in the city have faced significant setbacks recently: the Canadian Canoe Museum as well as the arena project planned for Fleming College. Perhaps these setbacks are for the best, for now. After all, when one door closes, another is sure to open.
I never quite liked the idea of the city’s plans to build a replacement arena for Northcrest at either Trent or Fleming. These locations are on the outskirts of town. The largest benefactor to these plans would have been the post-secondary schools themselves who could have marketed their own sports programs while having priority access to these facilities.
A project as large as a multimillion-dollar arena could certainly benefit from private investment or partners. In fact, it might have to. The proposed idea to build an OHL arena in the downtown, for instance, is estimated to cost more than $90 million and that is before considering land acquisition. Given the city’s financial circumstances, spending only $70 million per year for capital projects, this project may be beyond our means.
For a council that’s spent a significant amount of time on debating whether we should permanently turn off our Centennial Fountain to save a buck, it becomes ironic to consider spending more than $90 million on an arena. What would be the environmental impacts of building multi-pad arenas? How does that fit in with council’s declared climate emergency?
For months now council has acted like the city is operating on a tight budget, that things are tough right now and it will take time to financially recover from the pandemic. The KPMG report, for instance that I spoke of last week, mentioned areas in which the city can find savings.
If we cannot afford to run a fountain, fund basic social programs and discretionary benefits and further have to rely on increasing transit fares, how does this council plan on paying for an arena? Sure, provincial funding may be available in the future but will council finally listen when advised of limitations to such funding?
A new OHL arena will require funding from various levels of government and perhaps even the private sector. Think “Quaker Oats Arena” or perhaps “Minute Maid Centre.” I’m sure Pepsico or the Coca-Cola Company could be interested in investing in the arena in some manner given their connection to Peterborough and future exclusive beverage sales. The naming rights alone could help push this project forward.
There are other issues to consider with the proposed downtown location, though, including parking, traffic and acquiring plazas that are not for sale and that house dozens of businesses employing well over 100 people. It was suggested an
OHL facility downtown would be great for economic recovery postpandemic. How does shuttering more businesses and more job losses do that exactly?
As for the canoe museum, while we are discussing the potential of exorbitant attractions, I am glad the site at the Lift Locks was abandoned. What I would love to see is a partnership between the Canadian Canoe Museum and the Art Gallery of Peterborough. Both organizations need more space.
For years canoes and valuable pieces of art have had to remain stored away from the public eye because there is simply no room to display them. Why not kill two birds with one stone? Form a partnership to construct a gallery and museum on Little Lake at the current art gallery site.
It is good to have a vision for the future of Peterborough. We need to invest in the culture of this city. We have been talking about replacing arenas for 20 years now and yet nothing has been done. It will still take more time. We have to do this right.