Flames Owners, City Officials Agree On New Calgary Arena Deal
The city of Calgary has "signed official agreements" with the owners of the Flames and Calgary Stampede for the "construction of a new arena in East Victoria Park," according to a front-page piece by Meghan Potkins of the CALGARY HERALD. Mayor Naheed Nenshi said the arena is "not something that has universal support and acclaim throughout our community," but added it is "the right thing to do." Potkins notes the city's "share of the project" is $290.4M (all figures C), which "includes demolition costs for the Saddledome." Meanwhile, Calgary Sports & Entertainment "will contribute" $275M. Construction is set to begin toward the end of '21, with "completion in late" '24. Officials said that the agreement "does not deviate from the terms made public in July," when council voted to approve the $550M project. They also said that "one of the more controversial parts of the proposed deal -- the option for the Flames to develop two parcels of land near the new arena -- has been included in the finalized agreement." The Calgary Municipal Land Corp. said that they "hope to create a building that integrates well with the surrounding streets, enticing concertgoers and hockey attendees to linger in the neighbourhood" (CALGARY HERALD, 12/6).