The City of Calgary and the Calgary Exhibition and Stampede has signed a memorandum of understanding (MOU) to enable construction of a new world class area and event center.
The Government of Alberta is investing $330 million towards the project, although the money will not go to the construction of the new arena itself. Rather, it will go towards the surrounding infrastructure projects that will come with it, like road and bridge construction, LRT connection, site utilities, site reclamation and other supportive infrastructure. The City of Calgary will contribute $537 million, while the Calgary Sport and Entertainment Coporation (CSEC) will contribute $356. There is also a land swap involved with the Calgary Stampede.
Premier Danielle Smith says that this new arena and event center will be at the heart of Calgary's sports, entertainment and cultural scene for generations, and will result in billions of dollars of economic activity and a higher quality of life for millions of Albertans.
“The memories experienced here by families and friends will contribute invaluably to the fabric and spirit of this city for decades. Calgary is a vibrant world-class city deserving and in need of world-class facilities. Along with Edmonton's Rogers Place, Alberta will now have two of the best and most modern event centres in all the world."
“One of my first actions as Premier was to publicly encourage all parties to return to the negotiating table and to appoint MLA Ric McIver along with my office's executive director to work with the city and CSEC to get this deal done in a manner that respected the expectations of provincial taxpayers.”
As part of the agreement the province would also partner with the city to build a new 1,000-seat community arena neighboring the main arena that will serve youth and amateur hockey.
Mayor of the City of Calgary Jyoti Gondek says “this project is another signal to the market that Calgary is making strong investments in its future. The partnership approach we have taken accomplishes two things: we are building an event centre, and we are also creating the public amenities needed within the Rivers District to enhance quality of life for all Calgarians.”
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