PNE Amphitheatre to be demolished after summer concert series ends

A Labour Day concert at the PNE Amphitheatre will be the swan song for the venue, which is slated to be demolished.

The organization that operates the summer fair and concert series has announced that when Blue Rodeo plays on Sept. 4, it will be the last performance at the 59-year-old venue.

"For almost 60 years, the PNE’s Amphitheatre, with its spectacular views of the North Shore mountains and Burrard Inlet, has hosted musical and cultural events for visitors across Vancouver, B.C. and beyond," says a news release issued by the PNE Tuesday.

"The existing Amphitheatre will be demolished in the coming months, making way for a spectacular new world-class outdoor venue," the statement continues.

The schedule of performances leading up to Labour Day is:

• Aug. 30 - Doug and the Slugs with the VSO
• Aug. 31 – Pat Benatar and Neil Giraldo
• Sept.1 – Jason Derulo
• Sept. 2 – Stars of Drag (Ft. Crystal Methyd, Alyssa Edwards, Raja and more!)
• Sept. 3 – Walk Off The Earth

The new amphitheatre is expected to open in 2026.

The cost of the project was initially projected to be just shy of $65 million, but that figure has increased to nearly $104 million. Vancouver City Council approved an increase to the budget for the new amphitheatre earlier this summer after receiving a staff report that predicted the increased costs will be offset by increased revenue once the venue opens.

The vast majority of that funding – a total of $98.9 million – will be provided to the PNE in the form of two loans from the city's capital financing fund, which the PNE will be expected to pay back over time. The remaining funds will come from the Hastings Park Reserve.

The base loan of $77.8 million for the amphitheatre is expected to be repaid in roughly 11 years, while a second loan of up to $21.1 million for "additional design elements" will be repaid in an estimated five years.

The current amphitheatre was described in the staff report as "in poor condition" and no longer meeting the needs of performers and guests.

The new amphitheatre will accommodate audiences ranging from 1,500 to 10,000 and will have a roof, which is slated to be one of the largest "free-span timber roof structures" in the world.

“The PNE is excited to see this project move forward – this new investment will mean technology, features, and sound mitigation will be state-of-the-art from the moment it opens,” said PNE CEO Shelley Frost, in a July news release.

“This new space will be a beautiful, inclusive venue, welcoming talent from across the world and enhancing summertime experiences for residents and visitors alike.”

With files from CTV News Vancouver's Ian Holliday

 A rendering for the new PNE amphitheatre is shown. (PNE)