a six-month period during 1931 at a total cost of $1.5 million. The site was purchased from The T. Eaton Co. Ltd. for a price said to be $150,000 below market value. The building was designed by the architectural firm of Ross and Macdonald. Construction was partly funded through a public offering of 7% preferred shares in a new corporation "Maple Leaf Gardens Limited" at $10 each, with a free common share for each five preferred shares purchased. Smythe and the Toronto Maple Leaf Hockey Club Ltd. transferred ownership of the hockey team to the new corporation in return for shares. The contract to construct the building was awarded to Thomson Brothers Construction of Port Credit in Toronto Township. Thomson Bros bid just under $990,000 for the project, the lowest of ten tenders received, mainly due to the fact that amongst the Thomson Brothers' various enterprises they had much of the sub contract work covered, others could not compete in this manner. That price did not include steel work, which was estimated at an additional $100,000. Construction began at midnight on June 1, 1931. In what is to this day considered to be an outstanding accomplishment, the Gardens was built in under five months and two weeks. W. A. Hewitt, sports editor of the Toronto Star, was hired as general manager to oversee all events other than professional hockey. His son, Foster Hewitt, was hired to run the radio broadcasts. The Gardens opened on November 12, 1931, with the Maple Leafs losing 2–1 to the Chicago Black Hawks. Reported attendance on opening night was 13,542. The Leafs would go on to win their first Stanley Cup (third of the Toronto franchise) that season. Season standings Record vs. opponents Playoffs The Maple Leafs would open the playoffs against the Chicago Black Hawks in a two-game, total goal series. The Black Hawks had a record of 18–19–11, earning 47 points, and finished in second place in the American Division. The Leafs dropped the opening game by a close 1–0 score at Chicago Stadium, however, they returned home for the second game, and Toronto easily defeated the Black Hawks 6–1, and won the total goal series by a score of 6–2, advancing to the second round of the playoffs. Toronto's next opponent was the Montreal Maroons in another two game, total goal series. The Maroons finished behind Toronto in the Canadian Division, as