Calgary Mayor Jyoti Gondek confirmed Thursday afternoon the construction of a new amphitheater for the Flames at a cost of $800 million.
Last April, the Flames and the various levels of government agreed on the distribution of costs.
The project will be officially launched with the announcement on Thursday afternoon.
This includes a public space, bars, restaurants and shops, bringing the bill to $1.2 billion.
Alberta Transportation Minister Devin Dreeshen announced the project is expected to be completed by the end of 2026, or 2027 at the latest.
The Government of Alberta will contribute $330 million, while the City of Calgary will invest $537 million.
Calgary Sports and Entertainment, the Flames’ owners, will cover the $40 million shortfall this year and $17 million annually for 35 years.