(Calgary) Deal is done on a new $800 million arena for the Calgary Flames.
Calgary Mayor Jyoti Gondek says a preliminary deal announced in April has been finalized for a new $1.2 billion events center and entertainment district near downtown Calgary. city.
Construction of the arena could be completed in 2026 or 2027.
Officials say the cost-sharing agreement has not changed.
The Alberta government is committing up to $330 million for infrastructure in the region and covering half the cost of a new community rink, which would be attached to the Flames arena.
The City of Calgary needs to invest $537 million. As for the group owning the Flames, it must pay an initial amount of 40 million, then 17 million per year during a 35-year lease.
The complex is to take shape near the Saddledome, which has housed the team for four decades.
The Flames’ regular season begins October 11 at home against the Winnipeg Jets.
