Kensington Legion sells building, shuts down pub due to financial challenges yyc yycbiz
The Royal Canadian Legion No. 264’s restaurant is closed and the branch has finalized the sale of its 1918 Kensington Road building. Following some financial challenges keeping up with the building’s expenses, it has signed on to a 50-year lease with the new owners.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
But the commercial spaces meant the legion had to pay property taxes, an expense local branches are often partially or fully exempt from under provincial rules. The Kensington legion saw a few tenants move in before 2020, but the pandemic also caused problems for the tenants. Pentney said one tenant was a wedding venue, which saw mass cancellations and loss of revenue due to pandemic restrictions in 2020.
“We’ve been engaged with the legion for the last few months, talking about the financial state they’re in. We talked about a number of things including providing tax relief,” said Wong.Article content
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'We literally ran out of money': Calgary Legion forced to close pub, sell buildingIt was supposed to be a model for Legions across Canada but, six years after it opened, the Royal Canadian Legion No. 264, known locally as the Kensington Legion, has closed its public restaurant and bar and sold its building, becoming a tenant in the property it once owned.
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