We are excited to unveil our plans for a transformative project aimed at enhancing the well-being of our members and athletes. This expansion includes:

State-of-the-Art Gym: Cutting-edge equipment and facilities for optimal fitness.

Fitness & Wellness: Catering to the wellness needs of members, families and athletes.

Training: Expert guidance and customized plans from certified trainers.

Multi-Purpose Flex Room: Ideal for team meetings, events, and a video sessions.

Enhanced Player Development: Strengthened oversight and rehabilitation programs for injured players.

Competitive Advantage: Stay ahead with comprehensive fitness and development programs.

Join us for a Special General Meeting on Thursday, April 18, 2024 (7 p.m.)

Updated April 15, 2024.

What are the additional costs of operating a gym?

The savings from not having to rent with the city and the savings from reduced trainer costs, will service the loan payment with additional funds left to help pay for other related costs.

The addition of a gym will increase our insurance and cleaning costs by approximately $1,100 per month. These costs are almost paid for with the savings mentioned above (shortfall of $200/month).

Additional costs would be approximately $1300 per month for the equipment lease. This will be funded by the “addition revenue” that is planned for next year. See #2.

 

Are we expecting any additional revenue streams?

The gym will provide us with several options to generate additional revenue:

• The Academy will see additional profit due a league roster increase where one additional player can be added to each team. Fixed costs have already calculated into our annual tuition where the expense of these new players will be the only variable costs. The addition of these roster players provides an additional profit of minimum $60k annually.
• The club can generate revenue from personal training by having trainers pay an amount to use our gym to train our members while we will take a percentage of each session, referred to as a split.
• We can implement off-ice training into spring and summer camps for players.
• We can create packages for off season training for alumni and professional players.

 

What is the interest rate and security pledged for the proposed loan?

The repayment will be amortized over a period of up to 23 years; this is in line with our current mortgage with TD Bank.  The repayment would begin to mature on December 31st, 2024. 

The Board will decide on the best interest option at the time the loan starts (the following rates may change). 

Current Options

Floating Rate Loan: Prime + 0.5%

Fixed Rate Loan: As of March 2024:

1 year                6.17%

2 year                5.67%

3 year                5.44%

4 year                5.39%

5 year                5.39%

Our current security will be amended to have the principal amount increase from $3,000,000.00 to $3,500,000.00.

 

What are the specific large expenses of the project?

• Steel beams to reinforce the underside of the new gym floor.
• New flooring, specifically rubber and concrete, to soundproof between floors.
• New plumbing and bathroom/shower installation.
• Electrical: rewiring, lighting, television install, electrical for specific fitness machines, security doors/fob security system, camera system.
• Drywall, framing, and dropdown ceiling.
• Renovated entrances, and renovated stairwell and outside entrance from north side of the building.
• New glass facing the rinks.

 

Will BWC players be allowed to use the gym?

Yes, players 11 years and older will be allowed to use the gym when supervised by a personal trainer or parent/guardian, while those 16 years and older may use the facility unsupervised. Specific equipment may have further height and weight restrictions on an individual basis.

All players will be required to complete a gym etiquette session with a trainer. This will include a pre-exercise screening, emergency response procedures, and safe use of equipment.  

Our Hockey Directors will work with trainers to create dryland training options for our minor hockey teams, curated to the age of the players, and structured similarly to our HD sessions.

All parents/guardians and players will be required to sign a liability waiver and First Aid training will be required for all trainers/supervisors.

 

What security measures will be taken to ensure the gym is a safe space, and with controlled access?

The gym will have two entrances, each secured with a fob system.  Fobs will only be provided to members that have signed liability waivers. These waivers will include additional family members like a partner or eligible child who requires access to the gym. Coaches and trainers of teams utilizing the gym will also have fobs to access the facility.

A panic alarm system will be installed and built into our current alarm system to allow for 24-hour third-party monitoring with the authority to alert emergency services if necessary.

 

Has the club had an engineering study done?

Yes, an engineering study was completed in February. As a result, we know that the building will exceed the minimum weight requirement once the floor is reinforced with steel support beams. We have also obtained all required permits for structural, plumbing, and electrical upgrades.

 

When will construction start and end?

We have already done the groundwork needed to begin the project, including acquiring the necessary permits from the City of Burnaby. Once approved, contractors that have provided the best quotes are ready to start work beginning this spring. Our expected timeline is May to August for construction with the goal of a September 2024 completion.

 

What is the purpose of the upcoming Special General Meeting (SGM)?

The SGM is being called to provide an in-depth description of the proposed gym project, to answer questions from our membership about the project, and to seek member approval to finance the cost of the project.  

 

Why is the Club considering adding a gym?

The addition of a gym is aimed at enhancing our members’ experience by providing comprehensive fitness and wellness facilities onsite.  This initiative is also expected to generate significant annual savings for our Club by reducing external fitness facility expenses while increasing convenience for our athletes.

 

How much will the project cost, and how are we going to pay for it?

After several iterations of the project were considered, we are now comfortably able to estimate that the cost of the project will be approximately $675,000.

Currently, because we do not have a gym on-site we must pay to rent space at the Christine Sinclair Community Centre at a considerable cost. The savings that we will realize by no longer needing to rent an outside gym facility will service an additional mortgage being provided by TD Bank that will finance this project. Importantly, the additional financing will not impede our ability to abide by our current loan covenants. Our expected payback period for the additional mortgage is 11 years.

 

Will there be a Special assessment or an increase in dues to finance this project?

No, there will not be a Special assessment, nor will there be an increase in dues as a result of this project.  The project is designed to be financially sustainable through the anticipated annual savings mentioned above.

 

How is the money going to be spent?

This is the first major infrastructure project at the Club since the NHL Rink was opened in 1995. Consequently, it is important to the Board of Directors and our management team to ensure that the project is done right the first time and will last for many years to come. 

Due to the location of the proposed gym, we will need to reinforce the floor with steel beams to ensure it is safe and above code and will need to invest in an insulated barrier that will reduce sound transmission through to the main floor. In addition, we will be upgrading the electrical and plumbing, installing a drop ceiling, constructing bathroom and shower facilities, and renovating both entrances to the gym.

Compared to previous concepts that have been considered, including building a gym facility off the front of the NHL Rink, this project is the most cost-effective option that will greatly enhance the enjoyment of our Club for our members and athletes.

 

What approval is required for the project to proceed?

The project requires the approval of a Special Resolution at the SGM.  For the Special Resolution to pass, it must receive support from a 2/3 majority of the members present at the meeting.

 

Who will have access to the gym?

Club members and athletes will have access to the gym at the following times: 

• 4 p.m. until close Monday – Friday
• 6 a.m. until close Saturday – Sunday
• Summer – all day availability to members and athletes

Academy athletes will have access to the gym weekdays until 4 p.m.

 

What are the anticipated benefits of having a gym on-site?

There are many benefits to having a gym on-site at the Club including a significant increase in convenience for our members and athletes, increased appeal for both attracting new members and retaining existing ones, and realizing a competitive advantage over other minor hockey associations and academies by providing these amenities on-site. 

 

Where will the gym be located?

The gym will be built in what is currently the Charlie Wilkenson Hall.  This is the only space within the club that we can build a gym at a fiscally responsible price point.  We have concluded that a gym is the best use of this space at the Club.

 

Where will teams be able to hold small events and meetings?

The renovation will include a room that will be big enough to hold team meetings and other small events including team video sessions.

 

Who can members contact for more information or if they have questions?

Members can reach out to the Club’s General Manager, Rob Windsor, at rob.windsor@bwchockey.com.