By Roland Murphy for Arizona Builder’s Exchange
The Arizona Coyotes and Catellus Development Corporation announced Monday they have entered into an exclusive negotiating agreement to work toward finalizing a new arena and commercial development project in the Arizona State University Athletic Facilities District along Tempe Town Lake.
The announcement marks the start of a detailed process for the team’s relocation from its current home at the Gila River Arena in Glendale.
The proposed development location is on the NWC of McClintock Drive and Rio Salado Parkway. It would include a roughly 16,000-seat arena as the new home for the Coyotes, along with an attached 4,000-seat, multi-sport facility for use by Sun Devil Athletics, Coyotes practices, youth hockey practices and other events, as well as a hotel and mixed-use development.
“We are thrilled to partner with the Coyotes for their new facility,” said Greg Weaver, Executive Vice President for Catellus Development Corporation. “As the first major partner for the ASU Athletic Facilities District, the Coyotes campus will set an exciting tone for this innovative, urban corridor.”
The overall budget, design and operational plan for the development will be created by June 30, 2017 under terms of the agreement. ASU intends to invest philanthropic support for costs associated with the Sun Devil Athletics multi-sport facility.
“Over the past year we have been exhaustive in our research regarding the most optimal location for our new home in the Valley,” said Arizona Coyotes President and CEO Anthony LeBlanc. “While we have tremendous fans all across the greater Phoenix metro area, not to mention the entire state, it became clear that the East Valley is home to a majority of our fans and corporate partners. Our fans in the West Valley have shown us tremendous support over the past 13 years, and we look forward to working with them as we transition to our new home in the future.”
ASU chose Catellus in 2014 as master developer for The District ASU, a mixed-use development on 330 acres adjacent to the northeast end of ASU’s Tempe campus. Originating from legislation passed by the state legislature in 2010 to create special revenue districts on land owned by state-supported universities, the district will provide financial returns to the university while delivering significant, tangible economic impact for the City of Tempe and the Valley. Revenues generated by development in the district are dedicated for investment in ASU athletic facilities.
The District includes most University-owned land generally bounded by Sun Devil Stadium, Veterans’ Way, University Drive, McClintock Road and Tempe Town Lake. The District enjoys a premium central location in the greater metropolitan Phoenix area with access to major transportation corridors including light rail and freeways. In addition, it is located approximately three miles from Sky Harbor International Airport.