Calgary Municipal Land Corporation

Calgary Municipal Land Corporation in its $500 million agreement with Calgary Stampede and the City of Calgary

Client

Calgary Municipal Land Corporation

Value

$500 million

Service

Real Estate

Date Closed

Lead Office

Calgary


 

On, November 1, 2019, the Calgary Municipal Land Corporation (CMLC) signed agreements in connection with development of the $500 million BMO Convention Centre Expansion with the Calgary Stampede as well as the $333.3 million Credit Facility with the City to fund the City’s and the Province of Alberta’s 2/3’s contributions towards the project. The building will effectively double the size of the BMO Convention Centre to become Canada’s second largest facility. BMO Centre is part of the Calgary Stampede Park, which hosts over 1,200 tourist, business, sporting and hospitality events annually. The expansion is projected to double the Park’s economic impact with the majority of revenue staying within the Province of Alberta.

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.

Osler, Hoskin & Harcourt LLP advised Calgary Municipal Land Corporation with a team consisting of Rob Housman, Riley Whitlock and Luke Stretch (Real Estate).


Team
Robert T. Housman

Robert Housman

Partner, Real Estate

Riley Whitlock

Riley Whitlock

Associate, Real Estate

Luke Stretch

Luke Stretch

Articling Student