Artist drawing of EXolution facility. Photo Courtesy: Exhibition Park

By Lara Fominoff

Community Issues Committee hears update on Exhibition Park’s EXolution plans

Jun 17, 2019 | 4:22 PM

LETHBRIDGE, AB – If all goes as planned, the new EXolution project in Lethbridge could begin in October and be completed by July 2021.

The trade and convention centre project, which is expected to replace the ageing main, north, west and south pavilions, will be around 268,000 square feet with 30 to 40-foot ceilings. It will also hold events with up to seven thousand people – twice the capacity of the buildings currently.

If construction goes ahead, up to 360 construction jobs would be created, with more than 50 permanent jobs remaining when the building is finished. Chief Operating Officer Mike Warkentin says the project is at an exciting point.

“The final strokes are being made on the financing plan…and we are exceptionally excited the way this is coming together for the fall.”

View of the EXolution facility from the southwest

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The new funding formula deviates away from the previous “1/3, 1/3, 1/3” formula, with money coming from municipal, provincial and federal governments. Instead, Warkentin briefly explained what they were looking at now, without releasing too many details.

“We realized that that is just not a feasible financial model in these times. So, one of the key points for us is that we know that our operation is (sic) financially sustainable. It generates positive cash flows, and it’s expected to well into the future. So that allows us the opportunity to potentially take on a larger percentage of the debt of this project, than what we have in the past, which would minimize the impact to public dollars and tax dollars.”

Inside the EXolution facility

So far, the design drawings have been completed, mechanical and construction plans are in progress, long-term modelling operations have been completed, the communications plan is in progress while the financing plan is expected to be completed and presented to the City in September.

Councillor Belinda Crowson asked Warkentin whether buildings like Heritage Hall, which is 93 years old, and the other pavilions will remain. At this point he told her, a feasibility study is being conducted to find the best solution.

Currently, Exhibition Park hosts 55 trade shows and three conferences on average, per year. In the new facility, it’s expected that there will be up to 75 trade shows and eight conferences every year.

Chief Operating Officer Mike Warkentin told the committee last year, Exhibition Park turned away 77 events because the current facility simply did not have the space, or the amenities required. The building is expected to cost around $62 million and between 2025-2034 will bring in nearly $118 million in revenue.

The information presented to the CIC was received as information and filed.

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