City’s plan for the future of Prospera Place
News Release
Prospera Place opened in 1999 to great fanfare. The 6,886-seat multi-purpose arena was the beginning of Kelowna’s downtown transformation, where people now live, work, play and visit 365 days of the year.
“I would like to express my sincere gratitude to GSL, the current owner-operator of Prospera Place, for their management of this key community facility for the past 24 years,” said Mayor Tom Dyas. “GSL has been a valuable partner in bringing entertainment, culture, and sports to our city, and we appreciate their contribution to our vibrant downtown.”
The agreement between GSL and the City of Kelowna expires in 2029. To ensure a smooth transition, the City of Kelowna has informed GSL that a planning and investment strategy for the facility, with a new partner, will begin shortly.
The City has made this decision to maximize the life of the facility and ensure that it continues to provide the greatest benefit to our community. This strategy will also allow for much needed improvements that would allow the City to attract major events to our community throughout the year.
The City will be going to market to explore new opportunities and options for this important asset, and to ensure that we are getting the best value and service for our taxpayers and residents.
In the meantime, the City will develop a capital improvement plan and funding strategy for strategic investments to expand the economic impact Prospera Place can provide to the community, as well as attract high profile entertainment, major sporting events and to meet the needs of the Kelowna Rockets, the primary tenant, in the short and long-term.
“Prospera Place can continue to be a key contributor to the economic future of our community and the quality of life of our citizens, and we want to make sure that it remains competitive and relevant in the marketplace,” said Mayor Tom Dyas.
The City will be engaging a consultant team to develop a strategy for a seamless transition of Prospera Place from GSL Group to the City of Kelowna. It looks forward to working with GSL until the end of their contract term and ensuring a smooth transition to a new future for the facility.
“We are confident that Prospera Place will remain a hub of activity and excitement for our city for many years to come,” said Mayor Tom Dyas.
