Council approves schematic arena design City Council approved the schematic design for the proposed downtown arena and reaffirmed a budget of $450 million for the arena, setting the stage for the project team to continue to evolve the designs so that a Guaranteed Maximum Price (GMP) for construction can be secured. The team expects to return to Council early 2013 with more detailed (60% completed) designs and the GMP, which must be approved by both Council and the Katz Group before construction can begin. Council receives city centre development update An update was provided on the City Centre Redevelopment project including a presentation of the proposed plan by consultants, Perkins+Will. The plan showcased how the site could be transformed into a leading sustainable community featuring a well-developed transportation network, innovative infrastructure, a variety of housing options and world class amenities. A report presenting the cost and revenue forecasts and the proposed phasing for development will be submitted to Council for August 29, 2012 with the full plan expected to be before Council in late 2012.
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Council Roundup – July 18, 2012