Fredericton's future performing arts centre takes big step forward, expected cost goes up

Fredericton Playhouse getting new home The City of Fredericton has come up with a funding formula to finance a new performing arts centre.

After 10 years of studies and discussions, a new performing arts centre in Fredericton’s downtown is closer to reality.

In a presentation to city council Monday night, it was revealed the provincial and federal governments were willing to reallocate funding so that the centre can get underway.

However, the decision also comes at an increased cost.

The current Playhouse facility has been “living on borrowed time” since 2012, according to the presentation. The city had trouble getting commitments on funding, particularly from the provincial government.

In 2019, the cost estimate of a new performing arts centre was just over $45 million.

Two years later, inflation has increased construction costs by eight per cent, and while there’s no change to the scope of the design, it’s now estimated to cost $58.3 million.

And the longer it’s delayed, the more expensive it’s expected to be.

Which is why, in a meeting between federal, provincial and city officials, it was agreed that funding can be reallocated to ensure the centre can get underway.

Through the Canada-Community Building Fund, just over $41 million is being earmarked for the centre. The city is borrowing $14 million, and the Town of Oromocto will be contributing $100,000.

The rest - $3 million – the city is hoping to raise through community donations. The goal is that construction begins in fall of 2023.

“It’s been a long road. It’s been a frustrating road, at times, but I think we’re on the other side. I think a big shout out has to go to the governments that are allowing us to take funds and be flexible with those to get us to where we need to go… it’s an exciting day,” said councillor Bruce Grandy.

Two potential sites are being considered, with work underway at one – the corner of King and Regent Streets – to see if it’s viable.

The new 71,000 square-foot centre is poised to have two theatres -- an 850-seat multipurpose theatre and 300-seat flexible theatre.

Fredericton Mayor Kate Rogers said it took “sheer tencity” to ensure the project didn’t become forgotten.

“It will keep Fredericton on the map… it’s a big development project and it’s worth its weight in gold,” councillor Eric Megarity said.