Page 17 - Sonya Sharp News Today

While councillors admit the public investment is huge, they say the city will reap future benefits from a reinvigorated downtown

Chris Varcoe writes: With the $1.2-billion arena project becoming a hot-button topic, a debate on how to revive downtown Calgary has begun.

While councillors admit the public investment is huge, they say the city will reap future benefits from a reinvigorated downtown

Calgary does love/hate its arena deals. It's practically an industry. But one thing is clear: the public knows less at this stage than what had been revealed at a similar stage with the last arena deal.

“The best way to describe this, this opportunity is holistically because it’s beyond just being an arena,” Calgary Chamber CEO Deborah Yedlin said.

“The best way to describe this, this opportunity is holistically because it's beyond just being an arena,” Calgary Chamber CEO Deborah Yedlin said.

The City of Calgary struck an agreement in principle with the province and Flames ownership on a $1.22-billion deal replacing the Saddledome

An agreement in principle for a new event centre and area development is expected to cost $1.22 billion, with funds coming from Flames ownership, the city and province.

The new arena for the Calgary Flames and surrounding amenities and improvements comes with an eye-popping price tag: $1.22 billion.

An agreement in principle for a new event centre and area development is expected to cost $1.22 billion, with funds coming from Flames ownership, the city and province.