The City of Surrey announced Tuesday it has reached an “agreement in principle” with the Vancouver Giants to anchor a proposed $360 million, 10,000-seat arena in the downtown core known as City Centre.

“We are thrilled to be part of this amazing venue that will change the face of Surrey like never before,” Ron Toigo, majority owner and president of the Vancouver Giants of the Western Hockey League, said in a joint statement with the city.

Surrey Mayor Brenda Locke touted the arena, slated for completion in 2030, as an economic windfall.

“Bringing this arena to Surrey means jobs, investment, conference capacity, and major sports, arts and entertainment like never before. We’re already the economic powerhouse of the region, and this is another step in Surrey’s rise as a world-class city,” said Locke, who intends to run for re-election in October, facing rival councillor Linda Annis and former Mayor Doug McCallum, among others.

The city’s planning the arena via the Surrey City Development Corp., an entity Locke rebooted in 2023 after McCallum sought to disband it during the prior four-year term.

The project will also include a luxury hotel, conference space and housing. The arena will double as a “cultural event centre” and host major events as well, the city said.

Artist renderings show the arena will be divided into two bowls of seating with one level of box seats in the middle. A large screen at an outdoor plaza is also envisioned.

The City Centre Arena and Cultural Event Centre, as it’s named now, will be built on land to be acquired by the city, directly across from city hall and Surrey Central SkyTrain Station, the statement indicated.

More specifically, the property will be secured through a “strategic land swap” agreement under which the city will acquire the five-acre parcel at 10355 King George Blvd. in exchange for three city-owned parcels at: 2750 194A St., 19165 39 Ave. and 12820-12842 96 Ave. The swap is an exchange of $116 million on each side, according to a report from EY-Parthenon.

If the plan follows through the Giants would relocate from the Langley Events Centre.

Annis said in a statement Tuesday that she questions if the partnership will work given the Giants only pull in about 4,000 people per game.

More so Annis said she questions how no private sector investment is part of the project.

“The mayor’s deal is completely one-sided with our city’s taxpayers providing the land and paying for the proposed arena,” said Annis, who also questioned the final price tag.

“The actual cost of the Newton Community Centre is going to be more than that, and when you look at the number of publicly funded projects that are over budget and behind schedule, is it any wonder no one will take that $360 million price seriously,” said Annis.

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