If you’ve driven by Calgary’s Stampede Park lately, it’s becoming difficult to miss it.

The city’s newest icon, Scotia Place — a part of a $1.2-billion total event centre project at the corner of 12 Avenue and Olympic Way S.E — has been steadily rising from the ground in 2026, as the project rounds the halfway point towards a fall 2027 opening.

“Everyone has been focused on no lost time and keeping to that schedule,” explained event centre project lead for the City of Calgary Bob Hunter on Tuesday.

“Same with the budget — we spend a lot of time on the budget, very focused on that council-approved number, and that’s what we’re sticking to today.”

Hunter’s latest update pegs the massive project as both on time and on budget through the first five months of 2026.

While a deluge of rain in Calgary in recent days has caused some trouble for workers, progress at the site can still be found.

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Roughly 800 workers are spending their time at the site, a number that’s expected to jump to about 1,300 as the exterior of the building is finished over the summer.

According to an update given to the city’s infrastructure and planning committee on Tuesday, 37.4 per cent of the project budget has been spent to date, and 95.4 per cent has been contractually committed.

“Construction sequencing is very complicated in a project of this size,” Hunter explained. “You’re constantly working within those parameters to ensure there’s no slippage in that budget… most of the challenges financially are behind us.”

Since the project broke ground, officials say nearly $1.5 billion in private investment has been announced for the area — including an Autograph Collection hotel that is also now under construction, and a two-hotel project across McLeod Trail from Stampede Park that’s currently in development review.

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Calgary Close-up: Stampede grounds set for first ever hotel on site

“There’s been significant investment in the surrounding area, so it’s really turning out to be a catalyst in regards to redevelopment opportunities,” explained Ward 10 Coun. Andre Chabot.

“Despite the fact that I had some questions in terms of how the sausage got made, so to speak, Scotia Place is going to be a fantastic contributor to Calgary’s economy,” added Calgary Mayor Jeromy Farkas.

Current schedules have the event centre opening its doors in time to kick off the Calgary Flames’ 2027-28 season, but officials have previously said they hope to have it ready in time to host the team’s preseason games that year.

Scotia Place will also be one of two Canadian venues, along with Edmonton’s Rogers Place, to host the 2028 World Cup of Hockey.

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