Construction Officially Begins on Calgary’s New $650-Million Event Centre
The long-debated arena and entertainment complex in Victoria Park breaks ground with a 2028 opening target.
Construction has officially begun on Calgary’s new $650-million event centre in the Victoria Park neighbourhood, marking the start of what city officials call the largest entertainment infrastructure project in the city’s history.
Breaking Ground
Mayor Jyoti Gondek, CSEC president John Bean, and representatives from all three levels of government attended the ceremonial groundbreaking on Monday, marking the culmination of years of negotiations.
“This facility will serve Calgary for 50 years,” said Bean. “It’s not just a hockey arena — it’s a concert hall, a convention space, and a catalyst for an entirely new neighbourhood.”
Project Details
The 19,000-seat venue will replace the aging Scotiabank Saddledome and is expected to host approximately 200 events per year, including Calgary Flames hockey, concerts, and major conferences. The surrounding development will include retail, restaurants, public plazas, and residential towers.
Funding Model
Under the final agreement, CSEC will fund approximately 55% of the arena cost, with the City of Calgary contributing the remainder through a community revitalization levy that captures incremental property tax revenue from the surrounding development.
“Taxpayers are protected by a fixed-price contract and a funding model that pays for itself through the growth it creates,” said Mayor Gondek.
The event centre is scheduled to open in late 2028. Construction will create approximately 2,500 jobs over the build period.
