A commercial re-roof project is being eyed by the Edmonton Oilers for the first time since they were bought by a Chinese consortium in 2016, according to sources close to the situation.
The Oilers are among those interested in the project, sources said, but the talks are ongoing.
The project, a three-storey commercial reclamation project in the city’s west end, was first announced last month, and is being led by the private investment firm Bao China.
The $3-million commercial rework project would consist of the reroffers that are installed in the commercial areas of the buildings, according a document provided to CBC News by Bao, a company owned by billionaire Huang Xiangmo.
It is a project that could be built for $1.6 million to $2 million per unit, with some units costing as much as $3.5 million per square foot, according the document.
It’s a very competitive project, said one of the sources, who spoke on condition of anonymity because of the ongoing talks.
If you’re looking for a good commercial project for the Oilers, this one could be one of them, said the source, who asked not to be identified.
The company has a contract to re-create the commercial spaces, the document says.
Bao has previously done commercial projects in the United States, including a project for The Coca-Cola Company.
It will be interesting to see how much interest the Oilers have in this, said a third source familiar with the negotiations.
Boaengtang Construction Co. has been tasked with installing the re-ROO, which is expected to take up to 12 months, with the first phase of the project expected to be completed by July 2019.
It is expected that it will be completed within the next year.
The Edmonton Oilers were bought in 2016 for $2.2 billion, and the team will have a new, fully-renovated arena, the Pegulas, open for the 2020-21 season.