Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Alberta & Prairies  + Canada + Cross Border News  + Finance  | 

Province Starts Spending on New Calgary Arena

The Alberta government has approved its initial spending on a new major Calgary arena project, CBC reported.

The venue will serve as the new home of the National Hockey League’s Calgary Flames. The province has budgeted $39 million, in the form of grants for the Rivers District, as part of its $330-million funding commitment to the $1.2-million public-private development.

The Rivers District is the neighbourhood in which the arena will be built, near the team’s existing Saddledome location on the Stampede Grounds. The initial provincial funding will go towards site preparation, land acquisition, and road and infrastructure needs.

The $39-million expenditure was listed in the province’s recent quarterly budget update.

“That’s the only number you’ll find in this report regarding the Rivers District moneys,” Finance Minister Nate Horner told reporters recently. “We’ve had a discussion at Treasury Board, but that’s all I can give you at this time.”

The Flames and City of Calgary are also investing in the development.

Photo Credit: Wikipedia


Inside The Story

Government of AlbertaMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
New call-to-action
New call-to-action