Maroc - STOREYS.COM - A La Une - 25/Sep 16:53

$421M St. Lawrence Centre Revamp Faces Cancellation

A staff report from Toronto's Chief Financial Officer and Treasurer is recommending that the highly anticipated St. Lawrence Centre for the Arts redevelopment project be cancelled due to costs of $421 million.First approved in early-2020, the reimagining of the 1970's performing arts centre at 27 Front Street, dubbed STLC Next, was set to include two state-of-the-art performance halls along with creative spaces and studios, rehearsal rooms, and informal gathering areas, according to TO Live. It would also include a sleek new glass facade designed by Hariri Pontarini Architects, LMN Architects, Tawaw Architecture Collective, Smoke Architecture, and SLA. Rendering of St. Lawrence Centre/TO LiveBut as the project has progressed, costs have gotten wildly out of control.During the 2024 Budget process, Council approved $8.5 million in funding to complete the schematic design phase of the project, reallocating money that was originally intended for State of Good Repair (SOGR) purposes. Council also asked that the President and CEO of TO Live, Clyde Wagner, report back on the updated cost of next steps following the schematic design phase.According to a September 17 report from Wagner, on top of the $8.5 million, the extensive project will require $41.9 million in funds planned for SOGR requirements within TO Live's 10-Year Capital Budget and Plan, and $371 million in currently unfunded costs that would require further City contributions or federal, provincial, and third-party sponsorship.TO Live is also requesting Council's approval to move ahead with the detailed design phase of the project, the completion of which would make up $15.5 million of the hefty price-tag. Rendering of St. Lawrence Centre/TO LiveIn light of these astronomical costs, the City's CFO and Treasurer, Stephen Conforti, is recommending "that the redevelopment project not proceed to the detailed design phase, and instead consideration be given to accelerating and fully addressing SOGR needs at the STLC venue. "With a financing strategy that relies significantly on financial support from the federal and provincial governments and third-party fundraising, which are not yet secured, this project presents a considerable financial risk for the City."Instead, funds would be allocated to address the venue’s SOGR and accessibility requirements. Even without the redevelopment, SOGR and accessibility costs total $70-$80 million over the next 10 years, according to the report.STOREYS reached out to Live TO for comment on the redevelopment's potential cancellation, but has not received a response as of the time of publication.The recommendations from the City's CFO and Treasurer will be considered by the Executive Committee on October 1, before being brought before City Council on October 9.