Since being in Edmonton for business, it was interesting to stop by the new home of the Oilers, under construction in the downtown area. Rogers Place is a $480 million project, if it stays on budget, and should be completed in time for the 2016/2017 hockey season.
The financing for the project comes from a five pronged approach as such...
$130 million: Katz Group lease and cash
$125 million: ticket tax
$120 million: community revitalization levy (a city loan repaid by future property tax from new downtown development)
$80 million: parking revenue and other city sources
$25 million: Edmonton regional collaboration grant
City also pays: $79 million through levy for land, pedestrian connection, LRT link, winter garden, community rink
 |
| Concept rendering |
 |
| Inside during construction |
It's of particular interest to me, as a resident of Calgary, since there is a push from a group of people, including the Calgary Flames NHL hockey team and the Calgary Stampeders CFL football team to build a mega project that will incorporate both a hockey arena and a covered field house for football and soccer. After seeing the set up for the financing for Rogers Place, it made me look further into what is being proposed here in Calgary under the name CalgaryNEXT. Check out my fact finding mission in my 'next' post.
No comments:
Post a Comment