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Globe: Olympic Spirit Closing!

A

AlvinofDiaspar

Guest
From the Globe:

Toronto in Brief
Olympic Spirit attraction expected to close

SCOTT DEVEAU

Toronto's Olympic Spirit is on the wane, as organizers behind the interactive attraction in Dundas Square are expected to announce today that it is closing its doors.

The sports-themed entertainment centre laid off several of its staff earlier this week.

"We are preparing to make an announcement regarding our future," said Jay Whiteside, general manager of the facility. "It's not a happy announcement."

The $42-million, 52,000-square-foot attraction, opened in the fall of 2004, was expected to be a model for similar facilities around the world. It was officially licensed by the International Olympic Committee and the Canadian Olympic Association

It was intended to embody the values of the Olympics and inspire future Olympians with interactive exhibits and sports memorabilia.

But Olympic Spirit failed to reach an agreement with CBC that would have allowed it to carry the broadcasts of the Turin Games on its giant outdoor screens. In recent months, it became what Mr. Whitehead said was essentially "a retail business."
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It took 2 years - a bit longer than expected. Finally something serious can go into that spot.

AoD
 
And hopefully, the new tenant can fix up the exterior a little.

I am not confident that they will easily find a tenant any time soon though. The space is a bit too unique for most retailers and a bit off the beaten path (not ideal for the winter).
 
alklay:

Even better. Get a new owner for the site (and the abandoned building beside it), re-zone the site for a taller tower and tear down that horrible mess. It'd frame the square perfectly (like clocktowers in urban plazas in Europe).

AoD
 
Excellent idea AoD! Something tall and prominent that would be a beacon to the area, and that would complete the vista east of the square.
 
Combining the sites would be good. We know that Pen-Equity ownes the site behind the Torch. I wonder who ownes the Torch site. Did Pen-Equity sell it to the "Olympic Spirit" or is it just leased. And If Olympic Spirit owned it, now that they are history, I wonder who in effect ownes it (the bank?) and is responsible for leasing/selling same.
 
It is Pen Equity themselves who bought the rights from the IOC to run the place, so yes, they still own it. I know a former manager of the Spirit Centre and he was always complaining that Pen Equity were giving them zero advertising dollars. He got out after the first year.

42
 
McDonalds with lots of seating upstairs?

Yep, let's admit it...this site is going to attract something that is very high volume and very commercial.
 
i want an arcade. and i'd prefer something other than a playdium or a dave and buster's, something more along the lines of a classic, vintage arcade. done properly it could be a good tourist draw, and im sure locals would make use of it as well
 
Hands up those who thought it would be a success.
Click to expand...
I'll raise my hand.

When the concept was first put forward, before construction started or I saw how the business was being manged, I thought it could do pretty well.

The business didn't fail because of the concept, it failed as a result of the implementation.
 
On paper it sounded lame (does anyone really care about the "Olympics" as a generic concept, in a town with no Olympic traditions except some failed bids?) and in real life it was even lamer.
 
A nice coffeeshop overlooking the Square would be a great place to chill and take in the vibe. Kinda like the big Starbucks overlooking the crossings in Shibuya.
 
Let's face it, it's got Starbucks and McDonald's written all over it, but I like AoD's suggestion very much. Tear it down along with the shack next to it and build something very tall and iconic

As for the Spirit, I'm amazed it stayed in business as long as it did. It's kind of ironic to see it go dead before Metropolis is even open. Certainly speaks volumes about Penequity's competence (or its lack of).
 
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