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Hopes that Calgary’s nearly 34-year-old saddle-shaped arena could be replaced have been reignited more than a year and a half after the Calgary Flames’ ownership group unveiled plans for its ambitious $890-million megaproject dubbed CalgaryNEXT.

In recent months, Calgary Sports and Entertainment Corp., city hall administration and the city’s land developer have met more than 25 times to discuss an alternative to the hypothetical CalgaryNEXT project that’s faced hurdles since renderings and details were made public in August 2015.

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The substitute plan for an arena in Victoria Park, on a two-block site south of 12th Avenue S.E. between Olympic Way and 5th Street S.E. on land currently occupied by parking lots and roadways, “appears feasible to all involved parties,” according to a report scheduled to go before city council on Monday.

The five-page report released late Friday is light on details but offers Calgarians a first glimpse at the “Plan B” officials have been considering since April 2016, when a city report concluded the CalgaryNEXT pitch slated for creosote-contaminated land in the West Village could cost $1.8 billion and was not feasible.