Calgary Flames announce vision for $890 million, multi-venue megaproject

The Calgary Flames have proposed a bold vision that would remake the west side of downtown Calgary. Dubbed CalgaryNEXT, the $890 million plan calls for a new facility to replace both the existing Scotiabank Saddledome and McMahon Stadium.

The megaproject would span several city blocks near the Bow River and include a 20,000-seat arena for hockey games and concerts as well as an adjacent 30,000-seat stadium complete with a translucent roof for the CFL’s Calgary Stampeders. The stadium would also be designed to host international soccer and track and field events.

Financing would come from four buckets: 1) a $240 million community revitalization levy 2) a $250 million ticket tax 3) $200 million from the city and 4) $200 million from the Flames ownership group.

Challenges sit in front of CalgaryNEXT, including a lack of available public funds. The potential construction site also requires environmental remediation that is estimated to cost an additional $50 million and $300 million.

CalgaryNEXT is at least a year away from being shovel ready, and construction of the massive structure would take three years to complete.

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