\u00a0<\/p>\n
Ontario Construction News staff writer<\/p>\n
Surrey has reached an agreement in principle with the Surrey City Development Corporation to build a new 10,000-seat arena in the city\u2019s downtown, with the Vancouver Giants set to become the facility\u2019s anchor tenant.<\/p>\n
The City Centre Arena and Cultural Event Centre is expected to open in 2030 and will serve as a venue for major sporting events, concerts and cultural performances. The city estimates the project will generate $2.4 billion in economic benefits over the next decade.<\/p>\n
\u201cWhen we say big things are happening in Surrey, we mean it, and a new arena of this scale is as big as it gets,\u201d Mayor Brenda Locke said in a statement. \u201cBringing this arena to Surrey means jobs, investment, conference capacity, and major sports, arts and entertainment like never before.\u201d<\/p>\n
The city estimates the project will have a net cost of $360 million. Funding was included in Surrey\u2019s 2026 budget.<\/p>\n
The project will also include a luxury hotel, conference space and residential development, creating what the city describes as a new sports and entertainment district in Surrey City Centre.<\/p>\n
The arena will be built on a five-acre site at 10355 King George Blvd., across from Surrey City Hall and Surrey Central SkyTrain Station.<\/p>\n
Land will be acquired through a proposed swap agreement. Under the arrangement, the city would receive the King George Boulevard property in exchange for three city-owned parcels located at 2750 194A St., 19165 39 Ave. and 12820-12842 96 Ave.<\/p>\n
The Vancouver Giants will relocate to the new arena when it is completed.<\/p>\n
\u201cWe are thrilled to be part of this amazing venue that will change the face of Surrey like never before,\u201d Giants majority owner and president Ron Toigo said in a statement. \u201cExciting times for Surrey and it\u2019s great to be a part of it.\u201d<\/p>\n
\u201cBringing together this new parcel of land, with experienced parties to build, operate and tenant this new 10,000-seat arena, is going to unlock significant opportunities for the City,\u201d said Bill Aujla, president and chief executive officer of the Surrey City Development Corporation.<\/p>\n
Council is also releasing an assessment of the proposed land exchange transaction as the project moves forward.<\/p>\n","protected":false},"excerpt":{"rendered":"\u00a0 Ontario Construction News staff writer Surrey has reached an agreement in principle with the Surrey City Development…\n","protected":false},"author":2,"featured_media":783545,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194299],"tags":[49,48,87674],"class_list":["post-783544","post","type-post","status-publish","format-standard","has-post-thumbnail","category-surrey","tag-ca","tag-canada","tag-surrey"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/783544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=783544"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/783544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/783545"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=783544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=783544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=783544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}