Ken King says CalgaryNEXT could cost more than $890M to build

The CEO of the Calgary Flames says it's likely more money from a Community Revitalization Levy will be needed to develop the West Village, the proposedfuture home of the CalgaryNEXT project.

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Ken Kingsays the multi sport facility will cost $890million, with $240million of that to come from a CRL, a loan that is repaid through property taxes in the area.

But hesays more money from that levy will be needed to prepare the neighbourhood before building the proposed sportsplex.

"I expect there will be more funds needed," King said.

The plan calls for a 20,000-seat arena toreplace theScotiabank Saddledome, where the Flames play, as well asa 30,000-seat indoor football stadium for theCFL Stampeders that would also serve as a field house.

The money for the sportsplex would come from a$250-million ticket tax, a $240-million community levy, $200 million from team ownership and $200 million from city taxpayers for thefield house.

But the vision for CalgaryNEXT involves redeveloping an area west of Calgary's downtownalong the Bow Riverwhere the city's Greyhound bus depotand twocar dealerships now sit.

The land will need to be decontaminated as it was the site of acreosote wood-treatment plant until the 1960s.

Far More Difficult Site

The $890 million price tag wouldn't cover that, but King suggests the CRL would help.

The City of Calgary has used the levyfor the East Village, with $350 milliongoing toflood proofing, roads and infrastructure as well asthe River Walk, pedestrian bridges and St. Patrick's Island.

Using thelevy for CalgaryNEXTwould be very different, according to Druh Farrell, councillorforWard 7

"The CRL normally would go to preparing the site for development. The site needs huge preparation. It's a far more difficult site than East Village and that was a difficult site.," she said.

"$240-million dollars won't cover (it). That's covering the arena."

But King argues it will cost more money in order to build CalgaryNEXT.

"The efficacyof the CRL needs to be proven. We can't just promise that somebody's going to come there and build something," King says.

"What we have to do isheck I might even be going to places to get people to build things there."