Arizona Coyotes in talks with Tempe on new arena

[Llama19]

To quote:

"The Arizona Coyotes are in talks with Tempe to relocate the hockey franchise from Glendale to the East Valley, according to sources close to the city.

Tempe is expected to issue a request for proposals Thursday to attract a professional sports franchise and a developer that will build an arena and entertainment center on a narrow strip of city-owned land near Priest Drive and Rio Salado Parkway, sources said.

The land, on the southern banks of the dry Salt River just west of Tempe Town Lake, currently houses the city’s public works and compost yard. The land is viewed as prime real estate in the center of metro Phoenix, but would require environmental remediation.

The cleanup would cost an estimated $70 million, but development on the land could generate approximately $260 million in revenue over 30 years, according to the consultant."

Source (Paywall): www.azcentral.com/story/news/local/tempe/2021/07/22/arizona-coyotes-talks-tempe-new-arena/8052304002/

Click to read more...

 

[Llama19]

 

[aqib]

I've only changed planes in Phoenix. How far is this from the Scottsdale area where people say all the fans are?

 

[awfulwaffle]

I've only changed planes in Phoenix. How far is this from the Scottsdale area where people say all the fans are?

Just down the road/freeway.

 

[Llama19]

I've only changed planes in Phoenix. How far is this from the Scottsdale area where people say all the fans are?

This Google map link shows the proposed triangle shaped area labelled Tempe Solid Waste Compost Yard...

Google Maps

 

[PCSPounder]

Property that requires remediation, so developers might be hesitant to slap dwellings there. I did say “might,” right?

Really not far from “Central Phoenix.”

This looks like the kind of deal that could work. Who pays for the building?

 

[Art.Vandelay]

Property that requires remediation, so developers might be hesitant to slap dwellings there. I did say “might,” right?

Really not far from “Central Phoenix.”

This looks like the kind of deal that could work. Who pays for the building?

From the article: "Private investors would fund the arena and commercial space, a source said."

 

[CanadianCoyote]

I've only changed planes in Phoenix. How far is this from the Scottsdale area where people say all the fans are?

It's right beside IDEA and ASU's Tempe campus near downtown. Tempe is right below Scottsdale.

So pretty close.

 

[TheLegend]

Property that requires remediation, so developers might be hesitant to slap dwellings there. I did say “might,” right?

Really not far from “Central Phoenix.”

This looks like the kind of deal that could work. Who pays for the building?

- City pays for land reclamation. (est. $70 million) Can create a taxing district to recover the costs.
- Arena and associated entertainment district is all private funding.


The site is between the ASU campus and Phoenix Sky Harbor airport. Roughly 2-3 miles west of where the Coyotes/ASU joint plan was sited.

City of Tempe is going to develop on this site no matter who/what is built on it.

 

[PCSPounder]

From the article: "Private investors would fund the arena and commercial space, a source said."

Thank you. The paywall is evil and must be defeated.

 

[Yotes2000]

This sounds promising but hopes will not be raised until I see shovels

 

[TheLegend]

Meruelo mentioned in previous press conferences about having a couple of possibilities they were looking at prior to the pandemic hitting. This was one of them.

Should emphasize THIS IS NOT A DONE DEAL here. It's revealing one of the plans the team had been working on. The City of Tempe is expected to finalize their plans on the area by the end of the year and the Coyotes would still have to put forth a bid on the site being discussed here.

Emails between officials at the city of Tempe and the Coyotes organization show that this potential deal has been in the works for months if not years. The Business Journal obtained the emails through a public records request.

The Coyotes have been in talks with Tempe officials going back to at least 2019 about the potential of moving the team to Tempe. In early 2020, just months after Alex Meruelo bought the team, Meruelo and Tempe's then-Mayor Mark Mitchell had a meeting in the Cavetto Room of the Tempe Mission Palms hotel, according to email records.

https://www.bizjournals.com/phoenix...d-the-coyotes-build-a-new-arena-in-tempe.html

 

[TheLegend]

City of Tempe statement on the RVP issued for the site.

Press Releases | City of Tempe, AZ


The RVP notice:

https://bids.tempe.gov/bids/BidInfo.aspx?BidID=0ff327a6-506e-4606-b1e7-095d04f8f1cd


RVP details:

 

[OG6ix]

Not a bad location at all! I stayed at the Hyatt the last time I went to Phoenix and it was central to everything - this Arena would be a stones throw away.

 

[TheLegend]

The full RVP.....


22-030 RFP (1)

 

[BKIslandersFan]

If they ask for tax money, just assume this isn't going to happen.

 

[CanadianCoyote]

If they ask for tax money, just assume this isn't going to happen.

Already been said that it's privately financed. The city's on the hook for land reclamation, but they were going to be on the hook for that regardless of what they did with the site, and they can make a taxing district to cover it.

 

[Snarky Coyote]

here we go again ........

 

[Ernie]

Meruelo just closed on a $12m mansion in Paradise Valley so I guess whatever financial challenges he had last year must have been temporary.

He's also been making donations to Arizona state politicians in the last year so I wouldn't entirely discount that he's looking for some ROI.

 

[CanadianCoyote]

Meruelo just closed on a $12m mansion in Paradise Valley so I guess whatever financial challenges he had last year must have been temporary.

He's also been making donations to Arizona state politicians in the last year so I wouldn't entirely discount that he's looking for some ROI.

Also helps that keeping the Coyotes in Arizona and putting them right near downtown and ASU would be a pretty nice boon to gate revenue on top of the gambling revenue he'll be raking in.

Really, there's not any incentive to move the team at this point.

 

[Ernie]

Also helps that keeping the Coyotes in Arizona and putting them right near downtown and ASU would be a pretty nice boon to gate revenue on top of the gambling revenue he'll be raking in.

Really, there's not any incentive to move the team at this point.

I still don't see a financial case for him building the arena himself. So we'll see. But he seems to think it's a go.

 

[StreetHawk]

I still don't see a financial case for him building the arena himself. So we'll see. But he seems to think it's a go.

How far is this proposed site from the Suns TSRA? Is here enough non NBA/NHL events for both arenas to be profitable?

 

[CanadianCoyote]

How far is this proposed site from the Suns TSRA? Is here enough non NBA/NHL events for both arenas to be profitable?

It's about 17 minutes from the proposed site to TRSA (or Footprint Center as it's known now).

 

[Ernie]

How far is this proposed site from the Suns TSRA? Is here enough non NBA/NHL events for both arenas to be profitable?

Very possible that the arena isn't the money maker, but the housing and retail would be.

Still, not a great history of building an arena in the Phoenix area in order to support a real estate development.

 

[Bostonzamboni]

Would the arena in Glendale just get torn town, or host smaller events?

I assume the retail, restaurants, bars, etc. and other space promised with the arena in Glendale was never fully realized from what I've heard?

Or is there actually a decent selection (though likely not what was promised?) of such attractions there if arriving early for a game?