New event centre in Calgary gets official approval, construction to begin in 2024

A new event centre in Calgary is closer than it’s ever been, as the final agreements were signed by all parties Thursday.

The City of Calgary, the Province of Alberta, Calgary Sports and Entertainment Corporation, and Calgary Stampede have signed on the dotted line to seal the deal on the $1.22B project first agreed to in principle back in April.

Calgary Mayor Jyoti Gondek and Ward 1 Coun. and Event Centre Committee chair Sonya Sharp were joined by Premier Danielle Smith, Minister of Transportation and Economic Corridors Devin Dreeshen, Minister of Municipal Affairs Ric McIver, and others, in the city Thursday to share the news.

“The completion of this project will bring benefits for all Calgarians, and we’re one step closer to its realization,” said Sharp. “We are fortunate to have partners who realize the enormous potential that this district has for Calgary as a year-round hub of sports, arts, and entertainment. It will attract commercial investment to our downtown core and contribute to our city’s vibrancy and economic growth.”

The signing allows the project to move ahead to the design and construction phase.

Shovels are expected to be in the ground next year.

Calgary will pay $537.3 million of the project (44 per cent of the total project cost) while the Alberta government will pay $330 million (27 per cent) and the Calgary Sports and Entertainment Corp. will pay $356 million (29 per cent).

Funding from the province will support the land acquisition, site utilities and transportation infrastructure for the project, according to the province.

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That money will also cover half of the construction costs of a new 1,000 seat community arena that will serve youth and amateur hockey in the area.

Once complete, the new Rivers District is expected to create 1,500 permanent jobs and welcome an estimated 8,000 new residents and three million annual visitors.

“Calgary is a city of big dreams, big projects and big expectations. Our investment in the Rivers District is one that helps build Calgary and continues the momentum of revitalization in the downtown core. It’s one more shot of energy for Calgary’s culture, entertainment and business scenes, and the city and province will reap the economic benefits for decades to come,” Premier Smith said.

Provincial funding will also contribute to the demolition of the Saddledome, which will be the final step in the Event Centre project.

As a whole, the Rivers District project will add around four million square feet of mixed-use development such as homes, retail, and hotels, in Calgary’s Culture and Entertainment District.

“At this critical moment when we are seeing explosive population growth and increasing private sector interest in our city, the confirmation that the event centre project is proceeding to design and construction phases will generate strong investor confidence in our Culture + Entertainment District,” Mayor Gondek said. “This project will create better public gathering spaces, improved transportation networks, a downtown community rink and an arena to drive events that spur hosting and tourism opportunities, along with creation of jobs in the construction, retail and entertainment sectors.”

Utility and site preparations are set to begin this fall by the development manager, according to the city, which will make room for the community rink, public plaza and the event centre.

Work needed to successfully acquire the development permit, including design, are also expected to start soon.

The city says the permit process is expected to be completed in 2024, followed by construction the same year.

The expansion of the BMO Centre, work on the new 6 Street SE underpass, the Victoria Park Station Rebuild and 17 Avenue Extension and Stampede Trail are also expected to be completed in 2024.

The Calgary Flames have also agreed to stay in the city for the next 35 years as part of the new agreement.