Current cost estimates to transform MLG into the facility planned by the Loblaw/Ryerson partnership is $60M of which $20M has been committed by Loblaw and $20M committed by Ryerson students. The final $20M (assuming no project cost overruns) is being seeked from the Federal government. The story below outlines some of the issues on this; however the comment section shows this to be a potentially divisive issue.
Gardens conversion would need federal cash
It would cost Ryerson $60 million to convert historic Maple Leaf Gardens into a university sports centre, but the school can't pull it off without Ottawa picking up one-third of the tab, says Ryerson president Sheldon Levy.
"I'm for sure excited about the opportunity to provide something wonderful to Ryerson, the city of Toronto and the people of Canada, but if we don't get $20 million in federal support, there can be no deal," Levy told the Star Thursday.
Ryerson students voted last spring to contribute $20 million from student fees towards turning the beloved arena on the edge of the downtown campus into dream home ice for its hockey team, which now must travel across town to play. Students agreed to pay $126 each per year towards the project.
Levy said Loblaw Cos. Ltd., Canada's largest supermarket chain and owner of the property since 2004, has pledged to help fundraise another $20 million.
Ryerson has applied to the federal government for the remaining $20 million through infrastructure dollars for the recreational hub, which Levy has said would be open to public use as well. While universities are funded by provincial governments, Queen's Park does not pay for recreational and other non-academic buildings, Levy noted.
Under the current plans, Loblaw would operate a grocery store on the main floor and Ryerson would convert the top two storeys to an arena, basketball and volleyball courts and a gym, among other facilities Loblaw has said it is fully funding its own development costs and has not requested any government funding.
The historic site on Carlton St. looms large in Toronto's psyche, even among non-hockey fans, as it has played host to Beatles and Elvis concerts and was for many years owned by one of the city's most colourful characters, Harold Ballard.
Loblaw bought the building from Maple Leaf Sports and Entertainment Ltd., beating out Home Depot Canada for the highly desirable downtown location.
Meantime, Energy and Infrastructure Minister George Smitherman told reporters Thursday morning after a speech to a construction conference that "whenever I hear of any plan to bring life to that very fanstastic building, I get excited. And I'm keeping my eyes open to see what further plans might emerge there."
When asked if the province would be willing to kick in money, he said he would not rule it out, saying "there's a lot of work that needs to happen before that would be possible."
"It's one of the most iconic buildings in the city," said Smitherman, who doesn't live far from the Gardens. "But as far as I know yet, we haven't had any specific funding request."
- With files from Dana Flavelle and Paul Moloney
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