A project to build a new outdoor hall with a capacity of 9,340 people for concerts and festivals at the Pacific National Exhibition has received the green light from Vancouver City Council.

The current amphitheater, built in 1966, will be demolished – the seating plans for the new site will be fully covered to accommodate events throughout the season.

A report Vancouver City Manager and NCB President says the amphitheater renewal and modernization will create a “world-class outdoor space.”

“This will enable the growth of community and business events in the city, help establish a vibrant cultural space year round and increase revenues to make the site financially viable and spur economic growth in Vancouver’s music industry,” according to the report.

The new facility, which is expected to cost $ 69.7 million, will have a capacity of 4,500 bleacher seats, 4,250 floor seats and 590 VIP seats and will be scalable to accommodate events between 2,000 and 9,340 people.

The report calls on city staff to speed up the project with the aim of completing the site before the planned date of 2026.

“Recognize that this is an important economic and cultural stimulus project that fills the identified critical void of a lack of performance space in Vancouver,” the report said.

The number of events is expected to increase from five to 49 each year with 22 additional community events, resulting in “an increase in revenues of $ 1.4 million to $ 9.7 million (annual revenues means estimated over the first five years), which represents a 600 percent increase in site revenues, ”according to the report.