Study Shows Price Tag Of New Flames Arena Could Be C$550-600M
The Calgary Municipal Land Corp. has told a council committee that a new Flames arena would cost between C$550-600M, based on estimates "provided by contractors and discussions" with the owners of the Flames, according to Meghan Potkins of the CALGARY HERALD. The estimates "don’t include the cost of land and represent a slight increase from the price tag floated previously for the 'Plan B' proposal." Calgary Sports & Entertainment execs "haven’t said whether they concur with CMLC’s estimate," though they "provided conceptual drawings of a 20,000-seat building by architectural firm Rossetti for CMLC to review." Calgary Economic Development has "hired Ernst and Young to carry out the study, which could be completed by late January." The firm said that it "plans to compare Calgary’s proposed district to 'similar' developments in Edmonton, Columbus and Nashville." Potkins noted regardless of the study's outcome, Calgary Mayor Naheed Nenshi "pointed out there are at least three major capital projects that fall within the redevelopment boundary for Victoria Park where the entertainment district would be located." A number of funding sources "could be available to bankroll the creation of an entertainment district." City Manager Jeff Fielding said that the city has approximately C$300M to "spend on a major project over the next few years" (CALGARY HERALD, 12/15).