[sureLoss]

CMLC boss says a new arena will come to Victoria Park: 'It's just when does it happen'

https://www.cbc.ca/news/canada/calga...ames-1.4852591

Michael Brown, CEO of CMLC, told the committee that a new arena would be at the heart of a revitalized entertainment district.

Once CMLC has $150 million to spend on improving the area's connections and streetscapes, a properly designed arena would help draw development to the district, he told the committee.

Brown outlined plans to construct a level crossing at 17th Avenue S.E. to open up Stampede Park, build a new underpass at Fifth Street S.E. under the CP Rail tracks, build a new Ninth Avenue bridge over the Elbow River and extend the Riverwalk southward along the Elbow.

Brown said CMLC is hearing from developers who are interested.

"When the developers call me, hoteliers, residential building developers, when they call, they're all quite excited, but it's similar to the East Village [development]. They're not going to put their foot in first," said Brown.

"They want to see others do that."

When the East Village is built out, Brown estimates it will be generating about $30 million in tax revenues for the city every year.

At full build-out, he sees a potential tax lift from Victoria Park of $50-60 million annually.

For Brown, it's not about whether a new arena is built there.

"There will be an events centre. It's just when does it happen."