"City Council and I had a set of principles that had to be part of any deal, including that any public money must result in public benefit. I'm very pleased that this deal achieves that. It's a good deal for Calgary. This deal makes sense on its own merits and we believe it will help accelerate the redevelopment of East Victoria Park," said Mayor Naheed Nenshi. "Thank you to CSEC, CMLC, the Calgary Stampede, my colleagues at The City and especially Barry Munro who epitomizes the best of service and community building for working so hard to craft a deal that works for everyone."
Located adjacent to the downtown core in East Victoria Park, the project will form part of Calgary's cultural nexus, which includes the BMO Centre, Arts Commons, the Calgary Central Library, Studio Bell and the National Music Centre. The project will bring a number of benefits, including:
• Attracting and retaining young talent in a re-energized, entrepreneurial and socially vibrant city.
• Solidifying Calgary's place as a major destination for visitors from around the world.
• Attracting new business investment.
• Generating sustainable hospitality dollars.
• Boosting tax revenue for reinvestment in the revitalization of the district.
• Creating another exciting place for Calgarians to gather, strengthen relationships and celebrate.