How much did this cost?

Properties acquired to date cost approximately $12 million, funded through the previously borrowed Event Centre capital funds.

In 2019, low-interest rate environments provided an opportunity for the City to borrow the necessary funds for specific projects – including the Arena/Events Centre and Junction East/West – in advance of construction in order to secure a very favourable rate. Council directed staff to secure debt up to $200 million in order to take advantage of the low-interest environment. $90 million of that was earmarked as Arena/Event Centre capital funds. Under the terms of the loan, these funds must be directed to capital projects of 30 years or more.