Calgary Municipal Land Corporation

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

Client

Calgary Municipal Land Corporation

Value

$590 million

Service

Commercial Real Estate

Date Closed

December 2019

Industry

Real Estate

Lead Office

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).