Final stadium price tag double construction cost

With interest factored in, the price tag for Investor’s Group Field is almost double the cost of construction.

The province confirms the $209 million stadium will actually cost $376 million once loans on the stadium are paid off.

Part of the debt is being covered from property taxes generated at the old stadium site at Polo Park, but with anchor tenant Target gone, development on the site has slowed.

Still, Premier Greg Selinger is confident the repayment plan will work.

“With a growing population, there will be further demand for increasing our retail options in Manitoba, and Polo Park is still considered a Class-A site for retail development,” said Selinger.

The stadium is owned by a group made up of the football club, the province, the city and the University of Manitoba.

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  The province confirms the $209 million stadium will actually cost $376 million once loans on the stadium are paid off. (File image)