'Year-round hub': Calgary releases details of final agreement for new event centre

City's final event centre agreements released The City of Calgary has released the final agreements for the new $1.2-billion event centre, and the scope of it is massive.

The City of Calgary, Calgary Sports and Entertainment Corporation (CSEC) and the province are all sharing the costs for a new multi-million dollar event centre at Stampede Park.

The city released details of the final agreement reached between the groups on Thursday, saying sharing of the information is part of the city's commitment to "share as much information as possible on major projects.

"Calgarians who review these agreements will see a lot of familiar information,” said Michael Thompson, general manager of infrastructure services.

"Much of the information contained in these agreements was released in October 2023 with the announcement of final agreements."

The project is scheduled to be completed Aug. 31, 2026, and turned over to CSEC the next day.

That means if it's on schedule, the Flames will play the 2026-27 season at the new event centre.

There's a ticket tax of 9.5 per cent for each ticket sold at each event held at the new facility.

The community rink will be available for sports groups to book between 4:30 p.m. to midnight on weeknights and 6 a.m. to midnight on weekends. (The rental cost for minor sports groups must be 15 per cent less than the average ice rental fee at other City of Calgary facilities.)

The Calgary Flames must stay in Calgary at the event centre for 35 years, even if the team is sold to someone else.

Road work to reconfigure 5 Street S.E. is slated to start next week, weather permitting.

There are redactions in the final agreements, something the city says is to protect sensitive and proprietary information about the project's partners.

A downtown community rink, new public plazas and gathering places and improved transportation networks are part of the new infrastructure deal.

"It will provide a year-round hub for sports, art and entertainment for the enjoyment of all Calgarians and visitors," reads a release from the city.

City officials say the event centre block design phase is underway and they will share it this year, along with breaking ground.

The agreements outline three streams of funding that the city will receive from CSEC over the 35 year term:

$40 million upfront

$17 million annual lease payment, escalating 1% per year

Four properties identified for redevelopment

Future sale of Victoria Park Bus Maintenance Facility

$1.5 million annual payment to community sport funding

The $1.22 billion project will include a new event centre, a community rink and transportation and utility work in the surrounding neighbourhood.

The City of Calgary will front most of the cash for the project -- $537 million -- while CSEC will put up $40 million initially and pay an estimated $316 million through yearly lease payments.

The province is pledging $330 million over five years, with most going towards the transportation and utility work surrounding the new rink. The Alberta government's funding will also cover some of the costs for the community rink and the will pay for the demolition of the Saddledome.

"The construction schedule is highly complex and includes numerous moving pieces, teams, contractors, and sub-contractors. We are working to complete this schedule as soon as possible to ensure a timely delivery of the Event Centre Block," the city said in a statement.

A design plan and ground breaking is expected to occur sometime later this year.