Cardiff Council has called for contractors interested in potentially building an indoor arena and convention centre in the city centre.
Though these plans are still in the early stages, the council is looking for firms interested in these two major building projects, both expected to cost around £60 million to build. Along with the Welsh Government they are exploring a number of different funding options, including potentially borrowing (with a low interest long-term repayment plan) from the Treasury's Public Works Loan Board. Another avenue that has been suggested is the use of tax increment financing.
Talks with other cities and developers have seen it draw up plans for a 15,000-seat capacity indoor arena in a horse-shoe layout, rather than conventional fan-shaped floor plate. It will not only be used to stage major sporting events and concerts, but also annual party political conferences.
Alongside this the council also aims to deliver a 1,500-seat international conference centre with around 500,000 sq ft of exhibition space. The plans are an essential part of the Labour council’s vision for boosting the capital’s economy over the next 20 to 30 years.
Via Construction Enquirer