Your First Look at the New Gateway Site Plans
Craig Huckerby for local2 sault ste. marie
June 22nd, 2012 at 1:28pm | Last Updated at 1:37pm
As first reported by local2news last week, city council will get a look at the new gateway plan complete with architectural designs and drawings this coming Monday.
The long awaited business plan and concept combining both private and public partnerships will be presented by the Gateway Committee comprised of Tom Dodds, EDC CEO and Bill Durnford, Chair of the SSM EDC Tourism Gateway committee.
The concept is pretty straight forward, with an 18,000 square foot Sault Exploration Centre that will provide an active participation Cultural Entertainment attraction. According to the plan it will tell the story of the Sault's past, present and future.
Other parts of the plan include active lifestyle condominiums of about 1,300 sq feet that will be listed in the $326,000 range. 64 condos are planned for the site that will fetch $20.8 million into the project.
According to the business plan, the gateway attraction is expected to draw some 900,000 visitors to the mix of retail, entertainment and lifestyle attractions including a four seasons landscaped atruim, a farmer's market, restaurants and the Icon Tower. The space will also include an ice rink as part of the Winter plaza as well as a new train station for the popular ACR Agawa Canyon. The plan also calls for a small broadcast studio and parking for about 825 vehicles.
In total, the project is pegged at the $68 million dollar range.
The business plan stats part of the challenges facing the development is the significant infrastructure costs as well as developing an operating model to establish and manage the overall site.
Each component of the site will bring in revenues such as the Icon Tower that is expected to draw about 40,000 visitors by year 3 and generate $364,000 a year while the Sault Exploration Centre is expected to draw 101,200 in year three and bring in revenues of about $2.3 million.
During its first year the plan would generate an additional $2.9 million in new taxes for the city