Keystone Centre plans next 50 years

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This article was published 03/05/2024 (765 days ago), so information in it may no longer be current.

The Keystone Centre — Brandon’s iconic hub of culture, sports and agricultural gatherings — is set to point a spotlight on its future as it marks its 50th anniversary.

The centre’s next half-century will be the focus of five public engagement sessions scheduled for May 16-17 in the Lower Curling Club lounge.

Chair Bruce Luebke said the board and management team put out the call in order to shape Keystone’s future trajectory, adding it would steer the centre’s course for the next 25 to 50 years.

“The centre is an important community asset, and the public should have a say in its future as the users and guests of the facility,” Luebke told the Sun in an email. “The goal of this public engagement process is to be able to provide decision-makers with an accurate reflection of public comments, and in doing so, assist them to make the best possible evaluation of the results and feedback received.”

Luebke said a site master plan was commissioned by the board of directors to consider the centre’s facilities as well as new revenue-generating opportunities. The plan encompasses phased site development, envisaging future structures, green spaces, transit enhancements and commercial ventures.

Luebke said the centre has been resilient in maintaining fiscal equilibrium, noting unprecedented challenges that were worsened by the pandemic.

Historically, the financial performance of the Keystone Centre has been highly predictable, with annual EBITDA (earnings before interest, taxes, depreciation and amortization) resulting in a modest positive or negative financial result, he said.

When a profit is recognized, the chair added, the earnings go directly into the facilities and the site.

“The centre is typically a $7 million to $8 million organization in ‘normal’ years,” he said. “However, the significant impacts of COVID and the slow recovery within the industry, as well as inflationary headwinds, has placed additional pressure on the organization’s ability to financially support operations and capital maintenance.”

Apart from the 2023 EBITDA loss of $1.1 million, and the projected loss of $1.2 million in 2024, the centre has been able to operate close to break-even over recent years.

“However, the five-year capital plan requires $2.2 million in self-funded capital that will have to be funded by an operating surplus, requiring an average EBITDA of $440,000,” Luebke said.

The investment from the province and the city in 2023 is a committed investment over five years and one that is deeply needed, he said, adding these funds will be deployed to upgrade and improve the current infrastructure.

“The goal of this process is to look further and discuss what happens post-2028 when the current capital infrastructure investment strategy concludes,” he said. “Our administration and amazing staff strive each day to improve annual operations, so our goal is not just capital improvement, it is operating financial improvement and quality of service and experience.”

The public engagement sessions will take place on Thursday, May 16 at 1:15 and 6:30 p.m. and on Friday, May 17 at 10 a.m. and 1 and 6:30 p.m.

Input can also be shared through an online survey or a direct email address that can both be found at keystonecentre.com/pages/keystone-50-plus.

The Keystone Centre spans an impressive 540,000 square feet, serving as a versatile venue for a myriad of events, including athletic competitions, trade shows, concerts, and fairs. The inception stemmed from the visionary sketches unveiled by architect Paul Moody in a historic meeting on Nov. 16, 1963. Despite initial challenges and contentious civic elections, the Keystone Centre emerged as a testament to Brandon’s resilience and commitment to growth.

Ownership of the centre is divided among the city, province, and Provincial Exhibition of Manitoba, with each party holding a one-third stake. While operational funding is evenly split between the city and province, with the Provincial Exhibition originally providing the land for the facility, oversight of the centre falls under the purview of Keystone Agricultural and Recreation Centre Inc.

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