The Central Library shares its block with the historic King Edward Hotel to the southeast, which is connected to the National Music Centre with a skybridge to the east.

[6] The largest private donation for the project, via the Calgary Public Library Foundation, was a $1.5 million contribution from Nexen, a Calgary-based oil company and subsidiary to the Chinese state-run CNOOC, for the naming rights to a high-tech learning centre.

The entire building is oval-shaped and is elevated one floor above street level to cover a CTrain light rail tunnel and an open plaza, included with the intention of connecting Calgary's East Village to Downtown.

[13] The first stage of construction was the $25 million encapsulation of a 135-metre (443 ft) section of light rail used by Calgary Transit's Red Line, which emerges from a tunnel under the site.

[14] The light rail encapsulation began in May 2014 and was completed in September 2015, allowing for construction of the above ground portion of the Central Library to begin.

[17] Following the opening ceremonies, special public events continued for four days, with a total of 52,000 people visited the new Central Library.

[18] The library was praised for its design and its potential impact on Calgary's image amid a planned bid for the 2026 Winter Olympics.