Sierra Planning and Management Velodrome - Town of Milton

Velodrome Business Plan – Town of Milton 47
Scenario 1 represents a worse case revenue picture in large part because the estimate of track revenues is
based on hourly rates which are below rates which have been deemed acceptable by the major cycling
organizations. In addition, events at the centre are based only on facility rental revenues rather than a
share of the financial performance of events hosted. Moreover, higher discounts are applied to revenues
to reflect any incompatibility between track and infield uses.
7.3.9 IMPACTS OF LAURIER UNIVERSITY ON-SITE
The following outlines the key impacts associated with the development of a satellite campus by Laurier
University and its impacts on the use and operation of the performance of a facility.
Size of Campus and Opening Time � Anticipated Opening (if approved) 2015/2016
based on an initial campus of 3,000 students
on one or more buildings.
� Campus can be expected to grow over 10 to
15 years to a maximum of 10,000 to 15,000
students.
Core University Needs � Athletics and recreation centre in the range
of 8,000 to 10,000 sq.ft. for 15,000 student
campus.
� Initial requirements for 3,000 students
expected to be 2,000 to 3,000 sq.ft.
University Athletics and Recreation Centre � The existing fitness centre programs in the
Velodrome would be given over to the
University plus additional meeting room
space as achievable through the functional
space program.
� No rent associated with this space payable to
the Town.
Gymnasium Space � Presence of student body likely to increase
nominal utilization in both prime and nonprime
time during the fall/winter.
� Potentially higher “per use” revenues
associated from access to the track in nonprime
time should the market for school user
and other non-prime time users allow.
Retail within building � The viability of retail in the Velodrome is
likely to be enhanced by the presence of the
ready market of students adjacent to the
Velodrome. However, the ability to
accommodate this additional potential
commercial floor space will be determined by
the functional space program and capital cost
estimates for creating additional retail space.
Business Plan | January 2012
Sierra Planning & Management
47