Prospera Place

City officials have announced that Oak View Group (OVG) Canada will take over operations of Prospera Place in Kelowna once the current management agreement expires in 2029. The decision follows a detailed review process where OVG Canada emerged as the top contender among three finalists.

A Clear Choice for the Future

According to Derek Edstrom, Kelowna’s divisional director of partnership and investments, the choice was clear. “It was a unanimous decision from the review team,” he said. OVG Canada stood out for its proven record managing top-tier venues across the country and for its plans to modernize Prospera Place into a year-round entertainment hub.

Other shortlisted candidates included ASM Global and current operator GSL Group, which ranked second and third respectively.

OVG Canada’s Experience Across the Country

OVG Canada operates and owns several high-profile venues, including the TD Coliseum in Hamilton (recently renovated for $280 million), Canada Life Place in London, Ontario, and the WFCU Centre in Windsor. The company also manages both the South Okanagan Events Centre (SOEC) and the Penticton Trade and Convention Centre.

While some residents have expressed concerns about working with a U.S.-based parent company, Edstrom emphasized that the city is partnering directly with Oak View Group Canada. “It’s a highly specialized industry, and OVG Canada is who we’re dealing with,” he explained.

What Comes Next

The formal contract with OVG Canada has not yet been signed but is expected to be finalized within the next month. Edstrom said the framework is in place and the agreement will follow standard industry terms. “It’s not a concern for us,” he noted.

When OVG Canada assumes control in 2029, ownership of the building and surrounding land — including the south parking lot — will revert to the city. The front parking lot along Water Street will remain GSL’s property, currently valued at $38.2 million by BC Assessments.

Plans to Enhance the Guest Experience

OVG Canada plans to make improvements from day one, focusing on modernizing public spaces and elevating food and beverage services to meet their national standards. “We want a highly animated facility with more lights on throughout the year,” said Edstrom. “We believe OVG Canada will deliver that experience for our citizens.”

City leaders are optimistic that this new partnership will reinvigorate Prospera Place as a central hub for live entertainment, sports, and community events for decades to come.

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