The Edmonton Oilers announced Tuesday that the city's downtown arena project has been given the green light to begin construction in March and is expected to be completed by the fall of 2016.
The city of Edmonton and Katz Group met the $480 million Guaranteed Maximum Price for the project, the centerpiece of which will be Rogers Place, an 18,641-seat arena that will become the home of the Oilers.
"This is an exciting day for Edmonton as we move ahead with a project that will help realize our vision of a more vibrant downtown and ensures that the Edmonton Oilers remain a vital part of our city for years to come," Edmonton Mayor Don Iveson said. "The look of Rogers Place is bold and forward-looking, just like Edmonton. As part of our downtown vision, it will serve as a symbol of our city's great future."