Quebec on Monday morning confirmed that repairs to the Olympic Stadium’s roof and ring will come with a price tag of $870 million.
The move is part of an action plan signed in 2018 to revitalize Montreal’s east end. The government also wants to further commercialize the Olympic Park by doubling its capacity for tourists, increase the number of events held at the stadium and have room for large-scale concerts, conventions and trade shows.
The government predicts that, with its new roof, the stadium will attract larger events, possibly generating as much as $1.5 billion from tourism and other sources over 10 years.
It also expects to make $61 million in gross revenue per year from the Olympic Park, while the stadium itself could generate tax revenues of more than $20 million per year.
The roof will be fixed, rigid and feature a transparent glass hoop, so the tower will be visible from the inside. It will also flood the stadium with daylight and offer a view of the night sky.
The work will be done in three phases and is expected to take four years to complete, starting this summer. The stadium will be closed during this time, but the rest of Olympic Park will still be accessible.
From an ambitious design that took a decade and a half to build, to the saga of the failing roof, Montrealers know the story of the Big O, or the Big Owe, very well. But despite its astronomical and ongoing cost, the story isn’t likely to end.