Prospera Place
Image Credit: Tourism Kelowna
March 31, 2025 - 4:46 PM
The cost overruns for the upgrades at Prospera Place in Kelowna are going to tack on another $1.3 million to the project.
Kelowna's city council agreed to dish out the extra funds at its meeting today, March 31.
The arena has been out-of-date for years and the 25-year-old facility is getting the upgrades it needs to host big name events like the Memorial Cup in 2026. The city initially set aside about $3.8 million to upgrade the scoreboard, ice making equipment and more, but the project is going over budget.
City council agreed to spend an extra $1.3 million, bringing the cost up to around $5.1 million.
The city’s report to council said the initial budget didn’t include soft costs like engineering fees. The plummeting Canadian dollar is also a factor in the unexpected cost increase.
The city is investing an additional $4.26 million in long-term upgrades over the next three years.
The city wants to make sure the arena is top of the line so it can host international events for the next 10 to 15 years. The Canadian Hockey League announced that Kelowna won the bid for the 2026 Memorial Cup and the arena’s upgrades are set to be complete by then.
“We've been waiting about 25 years for a new state-of-the-art facility screen, so it's great,” councillor Ron Cannan said during the meeting.
Some of the new upgrades like the screen and sound system are expected to be finished by Canada Day.
The initial budget was set back in February 2022 when a report was made outlining the many flaws and outdated features in Prospera Place.
Prospera Place’s owner and operator GSL Group is going to run the facility until 2029, after that the city plans on taking over ownership.
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