Commercial Real Estate

Calgary Municipal Land Corporation in connection with the $550 million Calgary Event Centre

Calgary Municipal Land Corporation
Key Contact
Bryce Kustra

Partner, Real Estate, Calgary

Team
Elliot A. Smith

Partner, Construction & Infrastructure, Toronto

Paula Olexiuk

Partner, Energy and Construction, Calgary

On December 5, 2019, agreements were signed by Calgary Municipal Land Corporation (CMLC), Calgary Sports and Entertainment Corporation and its affiliates (CSEC aka Flames), Calgary Exhibition and Stampede Ltd. (Calgary Stampede) and the City of Calgary (City) for the construction and operation of the new Event Centre including NHL arena and home to the Calgary Flames, Hitmen and Roughnecks, venue for large-scale entertainment and sporting events, and retail integrated with the surrounding entertainment and culture district.  Estimated capital cost is $550 million.

CMLC was incorporated in 2007 as a wholly owned subsidiary of the City of Calgary to implement a revitalization plan to kick-start Calgary’s urban renewal.

CSEC is a privately owned professional sports and entertainment company based in Calgary, Alberta.

Osler, Hoskin & Harcourt LLP advised Calgary Municipal Land Corporation with a team consisting of Rob Housman, Riley Whitlock, Bryce Kustra, Luke Stretch (Real Estate); Elliot Smith (Construction) and Paula Olexiuk (Construction).

Value
$550 million
Date Closed
December 5, 2019
Lead Office
Calgary
Key Contact
Bryce Kustra

Partner, Real Estate, Calgary

Team
Elliot A. Smith

Partner, Construction & Infrastructure, Toronto

Paula Olexiuk

Partner, Energy and Construction, Calgary