Credit Union Place is a possible option for the new P.E.I. Sports Hall of Fame. (CBC)

The P.E.I. Sports Hall of Fame is one step closer to finding a new home.

Paul Power, chair of the search committee looking for a new location, says the committee settled on Credit Union Place after visiting the Nova Scotia Sports Hall of Fame at the Metro Centre in Halifax.

"We were told by them that perhaps 90 per cent of the traffic is driven through events — a Rainman game, Halifax Mooseheads game," he said.

"Credit Union Place [is] the most highly trafficked area in Summerside, it's visible and it's where everyone congregates."

The hall's 200-plus exhibits have been in boxes ever since it was forced out of its old home at the Harbourfront Theatre in Summerside this spring.

The hall of fame has lived inside the theatre building since 1998.

In 2003, the Harbourfront Theatre board took ownership of the building, and this past December that board told the hall of fame it would have to leave the building.

Its board of governors will make the final decision on where the hall goes.

Power says he hopes a new location is ready as soon as possible.