The Flames, City of Calgary, province of Alberta and Calgary Stampede have come to an agreement in principle on a new arena that will get almost $900 million in government funding, it was announced Tuesday.
A unanimous vote was conducted by City of Calgary council on Tuesday to approve the plan, which will reside in the Rivers District east of Victoria Park in the city.
The total cost is projected to be more than $1.2 billion, including a $330-million contribution from the provincial government.
The overall cost also includes parking, transit improvements, a new community rink and an enclosed plaza.
The Alberta government is not contributing to the arena but says it plans to fund up to $300 million on public transit and road improvements, site utilities, site reclamation and other supportive infrastructure.
The province is also contributing $30 million to cover half the cost of the 1,000-seat community rink. Officials would not commit on Tuesday to a timeline for the new arena.
Officials repeated during Tuesday’s media conference that the agreement was in principle, and not yet formalized to the point where specific details could be announced about the grounds or arena.
NHL commissioner Gary Bettman reportedly told the project committee that the new arena would mean the Flames would be in the rotation for the NHL Draft and the NHL All-Star Game.
Calgary Sports and Entertainment Corporation, the city of Calgary, the Calgary Stampede and Alberta Premier Danielle Smith made the announcement Tuesday afternoon.
The announcement comes less than a week before the writ is to drop for the May provincial election.
Smith has stated her support for a new arena in Calgary to house the National Hockey League’s Flames and wanted the province to get involved.
She said last October that the Saddledome has served the community well, but can no longer compete with new buildings across North America for events, concerts and sports.
The road to a new arena in Calgary has been long and arduous for all parties.
On Dec. 21, 2021, the City of Calgary notified its intent to pull out of an agreement with CSEC for the construction of a new arena. The agreement was officially terminated in January 2022.
Now-former Alberta Premier Jason Kenney said at the time that he was “disappointed that the City of Calgary decided to change the deal at the last minute.”
CSEC also had the CalgaryNext complex project shot down in 2017, after the City of Calgary questioned its feasibility.
— With files from The Canadian Press
