NEWS

Calgary Flames And Stampeders Getting A $900-Million New Home

08/18/2015 06:51 EDT | Updated 08/18/2015 11:59 EDT

CALGARY — The group that owns the Calgary Flames hockey club and Stampeders football team has revealed plans for a $900-million project to build a new home for the two teams.

The plan calls for a 20,000-seat arena that would replace the Scotiabank Saddledome where the NHL Flames currently play.

It also includes a 30,000-seat indoor football stadium for the CFL Stampeders that would also serve as a fieldhouse.

The facilities would be built on the western edge of Calgary's downtown along the Bow River, where the city's Greyhound bus depot and some car dealerships now sit.

The land would have to be decontaminated as it was the site of a creosote wood-treatment plant until the 1960s.

The plan calls for the project to be funded through a $250-million ticket tax, a $240-million community levy, $200 million from team ownership and $200 million from city taxpayers for the fieldhouse.

It's expected planning and decontamination would take up to two years, with another three years of construction after that.

The City of Calgary would be the owner of the facility once it is built.

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