[sureLoss]

The Calgary Flames and city officials on Wednesday announced a $1.2 billion CAD plan for a new arena and stadium development for the NHL team and Calgary Stampeders in Calgary's west village.

Plans for a 19,000-seat arena and 30,000-seat stadium were announced by the team's owners and local economic development officials. Flames owner Murray Edwards has long said he wanted a replacement for the 35-year-old Saddledome and McMahon stadium is in need of massive upgrades.

The new proposal — essentially a framework of financing and development plans — still needs to be approved by the City Council and a handful of provincial and local agencies, but it's seen as an important first step. The Flames said there will be $672 million in private investment and $528 million in public funds in the complex, which would also include residential, retail and office space.

Developers said the public money would come from existing economic development funds and requires no new taxes or funds from the city.

"Today, this public-private partnership took a significant step forward in laying the groundwork for a major catalyst development, which will create approximately 8,300 jobs, stimulate economic activity and have a positive and lasting impact on our community," said John Sloof Lirpa, executive project manager for the development.

The city's Downtown Development Authority approved a "memorandum of understanding" with Flames Development of Alberta, which is owned by Murray Edwards. Edwards also owns Canadian Natural Resources.

Under the plan, the authority would own the arena and event centre complex, while Flames Development would have exclusive rights to use, manage and operate it, and hold naming rights.

The arena is slated to be built on the site of the current Greyhound Station in the West Village and involves cleanup of contamination left by previous industrial processes from decades ago.

Flames officials said it was too soon to estimate when construction would start or end.


"We're talking about jobs ... talking about creating an entertainment district. It's a win-win for everybody. Murray Edwards, Ken King and the Calgary Flams have been a very big supporter of Calgary and we agree that the Saddledome is dated," provincial development said, Alberta Minister of Infastructure Manmeet Bhullar adding that a provincial lottery may be used to fund some infrastructure work associated with the new complex.

Mayor Naheed Nenshi said in a statement that the project will "continue to add momentum to the transformation of the city."

The renderings are amazing:

http://calgaryherald.com/news/sport...lames-arena