Sydney: Get ready for Hakoah
Even though the building industry is plagued with problems, including supply, president Steven Lowy believes Hakoah will open its doors at the end of next year.
Steven Łowy on the AGM Zoom
Speaking on Zoom at last night’s AGM, Lowy said that cost blowouts will necessitate a further funding of $15 million.
He opened his report by referring to the horrific attack on Israel by Hamas on October 7 and how much this barbarity and the subsequent war have united the community.
He said: “Our community’s response to the trauma we have seen over the last six weeks is to stand united and proud, emboldened by our Jewish values and heritage. We are more connected than ever, and deeply committed to building a strong and vibrant future for our Jewish community.”
At the last AGM, the club had sourced $78 million, including $52 million in donations, $6 million from membership pre-sales, and $20 million combined from state and federal government grants.
Steven Lowy continued: “Given the current inflationary environment, it is proving impossible to complete the project within the original budget.
As with any project of this size and complexity, there are always certain cost risks that remain with the owner, such as ground conditions, heritage items, and variations to design and finishes, which are unknown at the start of a project. Additional costs in these areas, as well as security infrastructure, given recent events, have increased the expected cost to complete the project.
Whilst we are not completely clear on final costs at this time, we are managing this process in a disciplined and focused manner. However, it is likely that an additional $15 million will be required.
Additional funding to complete the project and working capital, once open, was always anticipated to come from further membership pre-sales and additional donations. We are also hoping to receive some further grant funding from government to assist with increased security infrastructure and operating costs. However, given the extent of other cost increases it is now expected that we will need to obtain bank financing in order to bridge the gap between cost to complete and further donations, membership sales, and government funding.”
Moving what members and potential members can expect when Hakoah opens its doors.
An App is planned for members to book events, a table at the restaurant, exercise classes for Gym members and access to exclusive member offers and content as well as an interactive website and a physical and digital membership card to facilitate easy access to the registered club area for members and the ability to register guests quickly and easily.
Steven Lowy added: “We are now finalising arrangements with our Gym, Learn to Swim, Bridge Club and Multi-Use Court operators. We are really focused on exciting children’s activities, including an inflatable world, rock climbing, birthday parties, and toddler activities on the multi-use courts and children’s playground. We are also working towards activating the entire campus for school holiday programs.
Let’s face it, Jews love food, so the process of selecting our food and beverage partners has been rigorous.
There will be three areas for food on the campus, including a modern casual cafe next to the pool deck, a restaurant in the club building, and, of course, high-quality catering facilities for the event spaces. The level of interest we have received from some of our favourite food operators in Sydney has been very pleasing, and we are excited how our food offering (both kosher and non-kosher) is shaping up. Our aim is to please as many of you as possible… – not an easy task, given our culture!”
3150 members have purchased membership, with over 2400 completing the membership process to date.
We plan on doing a further membership drive next year closer to the opening of the club. Please encourage your family and friends to take out a membership if they have not already done so. The membership website remains live and memberships can be taken out at any time.”
A new membership drive will take place in 2024.
He thanked the community for “embracing this bold and exciting vision and putting your trust in the board”.
