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CALGARY Calgary council has signed off on changes to the city s new Event Centre project, which includes a higher budget and a new project manager. Documents released earlier this week show the estimated price tag for the arena has increased to $608 million, $58 million higher than what was agreed to in 2019. Council was asked to vote on whether to approve an update budget framework that sees the city s share of the building capped at $287 million. The Calgary Sports and Entertainment Corporation the group that owns the Flames, otherwise known as CSEC will put $321 million towards constructing the building and will be responsible for any additional cost overruns, should those occur.
Posted: Jul 28, 2021 8:54 PM MT | Last Updated: July 29
A rendering shows an updated vision for Calgary s planned new arena. (City of Calgary) comments
Calgary council has voted in favour of changes to its arena deal with Flames ownership.
On Monday, the public learned that the city and the Calgary Sports and Entertainment Corporation (CSEC) had each agreed to pay an additional $12.5 million for the arena, with CSEC covering any additional cost overruns.
It was also announced that the city-owned developer behind the Rivers District will no longer oversee the project and that that duty will now be under CSEC.
On Wednesday, council voted in favour of seven recommendations relating to the updated deal.
Posted: Jul 27, 2021 4:04 PM MT | Last Updated: July 28
This artist s rendering shows the proposed events centre that would replace the Saddledome in Victoria Park in Calgary. The owners of the Calgary Flames are going to cover their share of the increased cost of a new arena by boosting ticket prices. (City of Calgary)
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