Update on new Calgary event centre expected
UPDATE: Calgary arena deal signed, construction set to start this year. CLICK HERE TO READ MORE
Calgarians may feel a sense of déjà-vu as the event centre committee prepares for another meeting on Thursday morning.
It's been eight years since the Calgary Flames ownership first announced plans for a new arena for the team to call home.
That plan, dubbed CalgaryNEXT, promised an arena, multi-sport fieldhouse and other facilities to host major events and entertainment acts, but it never came to fruition.
Roughly two years later, then-mayor Naheed Nenshi proposed a 'plan B' partnership with Flames ownership, with a portion of the project's pricetag to be covered by the city and the rest covered by the team on top of user surcharges.
However, the team shot down the idea, claiming ownership would end up footing too much of the bill.
Fast forward to the summer of 2019, and it seemed like Calgarians would finally see the mega-project come to fruition.
Calgary city council approved a new $550-million plan to construct a state-of-the-art arena with capacity for around 19,000 people.
Construction on the project could have begun a little over two years later, but cost overruns and disagreements over funding slowed the process to the point where the Calgary Sports and Entertainment Corporation (CSEC) pulled out of the deal in late 2021.
In April 2023, the city once again partnered not only with CSEC but also with the Alberta government and the Calgary Stampede to breathe new life into the project.
The agreements, in principle, with the province, Calgary Sports and Entertainment Corporation (CSEC) and the Calgary Stampede pave the way for creating the Culture + Entertainment District in downtown Calgary, in the Rivers District, including a new and publicly-owned event centre.
The deal is valued at $1.2 billion.
The city is contributing 44 per cent, or $537.3 million, and 56 per cent is being contributed by both the province ($330 million) and CSEC ($356 million).
The province has since earmarked $39 million for things such as land acquisition, site preparation and roads near the future arena.
A new $800-million arena for the Flames to call home is part of the deal, and it comes with a 35-year lease that includes a commitment from the owners of the Calgary Flames to stay in the city, according to city officials.
The exact details of the plan have not yet been finalized, but Calgarians could soon get a more complete look at the deal's structure following Thursday's event centre committee meeting.
Premier Danielle Smith will join Calgary Mayor Jyoti Gondek at a 1:15 p.m. news conference updating the public on the new event centre.
CTVNews.ca Top Stories
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Suter scores late goal, clinches series for Canucks
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Human remains found in rural Sask. possibly a decade old, RCMP say
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Canadian doctor concerned new weight-loss drug Wegovy may be used inappropriately
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.