Not arena related, but the city has proceeded on funding $19M to the Foothills Fieldhouse project to get a detailed design, as well master plan for area as whole completed for next year. It is expected the facility will take four and a half years to construct the fieldhouse.
In the report below, it gives details into what the design should consist that we already know about (track, gyms, pool, and new twin arena), possibility of partnering up with the university in funding and building the facility, as well possibly what will be done with McMahon stadium. The McMahon Stadium Society is interested in starting phase 1 of 4 in renovations that would cost $25M. It would be renovated concourses with enhanced and new washrooms, concessions, and circulation.
If you're interested in reading the report to the council committee:
Deputy City Manager's Office Report to Foothills Athletic Park Redevelopment Advisory Committee - 2019 May 10