EDMONTON—The Alberta government and City of Calgary, along with the Calgary Stampede, have signed a $1.2 billion deal to build a new arena and event centre to replace the ageing, almost 40-year-old Saddledome.
Premier Danielle Smith said the new arena would “result in billions of dollars of economic activity.”
The province said it will not be investing in the construction or operation of the arena, and that these costs would be the responsibility of the City of Calgary and the Calgary Sports and Entertainment Corporation (CSEC).
Calgary has committed to $537.3 million, while CSEC will add $356 million. The province has committed to contribute up to $300 million over the next three years, providing road and bridge construction, LRT connection, site utilities, and reclamation.
The province will also contribute up to $30 million in partnership with Calgary to build a new 1,000-seat community arena next to the main arena, for youth and amateur hockey. The main arena will be the new home for the NHL’s Calgary Flames, at a cost of $800 million.
The Hitmen, the Wranglers, and the Roughnecks are also sports teams playing in the arena.
The project includes parking, transit improvements, and an enclosed plaza.
The province said the commitments in the deal are still subject to cabinet and Treasury Board approval by August 2023, following the election on May 29.
Calgary Mayor Jyoti Gondek said city council voted unanimously to support the deal on April 25. “This is a generational investment in place-making, creating space for community to gather,” she said at a news conference.
“The partnership approach we have taken accomplishes two things: we are building an event centre, and we are also creating the public amenities needed within the Rivers District to enhance quality of life for all Calgarians,” said Gondek.
Sonya Sharp, Ward 1 councillor for Calgary and chair of the Event Centre Committee, said the investment was “vital” for the city’s future prosperity and growth.
“Make no mistake, this project is about more than just a single building. It’s fulfilling our vision of a home for culture, sports, and entertainment,” she said. “A little over a hundred years and 1.3 million people later, we have a new Big Four—four partners committed to building a community hub that will serve us for generations to come.”
“Taxpayers are now responsible for more than 70 per cent,” she said.
The Canadian Taxpayers Federation (CTF) was critical of taxpayer funds being used for an arena, saying sports teams are wealthy. “The Flames franchise is worth hundreds of millions—they shouldn’t be taking money from struggling taxpayers,” the CTF said in a statement on April 25.
