Calgary City Council has decided to carefully examine a restructuring plan for the Community Revitalization Levy, which would consist of switching from a 20-year funding model to a 40-year plan, thereby helping make possible a major overhaul and expansion the the future Arts and Entertainment District - including a major redevelopment of the BMO Centre. The resultant BMO Centre Expansion project by the Calgary Municipal Land Corporation [CMCL] would see the facility double in size, a change which would attract even larger sports and corporate events, including major exhibitions and international competitions. 

BMO Centre Expansion, image via CMCL

The expansion would have a major spillover effect upon local hotels, restaurants, and other businesses in the area. Current estimates place the per-conference financial boost to local hotels at $5.6 million, a figure which would go up ten-fold to $56 million should the expanded BMO Centre attract at least ten more major events per year. The project would also add about 3,000 jobs into the local economy, and a grand total of about $225 million per year to the city's GDP.

The project has the potential to dramatically benefit the city as a whole, and act as a major catalyst for the highly-anticipated redevelopment of the Arts and Entertainment District. To this end, City Council will soon hold a vote in order to decide how to best proceed, the future of the Stampede Grounds to largely hinge upon the fate of this proposal. 

SkyriseCalgary will be sure to return to this project as progress continues. For more information, check out the associated Database file and Forum thread, and as always, feel free to join the conversation in the comments section below.