Better?
It has shed the Power Plant permanently. It has shed the former Fleck Dance Theatre permanently. It closed the skating rink and replaced it with a much inferior substitute.
The skating rink decision was ill considered, I agree, a partial reversal has since been executed, but its not ideal.
The main pedestrian bridge is broken.
I assume you mean the Amsterdam bridge? It has been approved for repair and is fully funded for this to be done in 2026.
It has given up much, if not most, of its main building to the Science Centre for 5+ years. And now it has given up prime programming dates in its theatre for 3+ years.
Its programming and brand will be heavily diluted.
This adds up to a radical downsizing of the organization. Will the next CEO aim to rebuild it? And what will be left to rebuild?
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Habourfront Centre has been losing money year in, year out for ages. Its been a fiscal basket case that is unable to support the programming you mention, and had extreme difficulty putting on programming year to year.
HC moved to sever itself from popular programs/venues that it felt could and should be able to be self-sustaining.
It has then moved to find reliable tenants who will pay the bills in full, for several years running, allowing HC to be on a sound financial footing.
We can certainly discuss whether the programming mix is ideal; and what things will look like when both Shaw and the OSC vacate.
Good questions, and worth getting answers on.......
But HC will have less debt, and be on a more solid financial footing as it seeks to answer those questions over the next 3+ years.
It will no longer be going from crisis to crisis.
A different long-term funding model is required if you want HC to be more than just a landlord. We all know the existing model was a fail from day one. HC relied on selling off land for years in order to sustain itself, leaving Toronto with far less waterfront parkland that was initially promised.
That mistake goes back to the founding of Habourfront Centre without a proper fiscal plan, over 50 years ago.
Since they've more or less run out of land to sell, 'stuff' has hit the fan.
Negligent staff, negligent politicians and negligent media gave the issue insufficient attention for 2 generations, and here we are....
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So yes..........
Better
Because, not bankrupt; and the bridge is getting fixed.
Plus Shaw and the OSC will likely draw much larger audiences to Habourfront than has been the case in the recent past, which is an excellent fundraising opportunity.
