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TEMPE, Arizona – The Arizona Coyotes have proposed a $ 1.7 billion development in Tempe that will include a hockey arena.
The renderings released Monday by the Coyotes include restaurants, shops and apartments on offer on 46 acres of land near downtown.
The team said the arena will be funded by private investors, but will seek municipal sales tax revenue to help pay $ 200 million in additional costs, including infrastructure work.
The Coyotes presented the only proposal for the field earlier this month. The city of Tempe said the assessment process will take several months and include in-depth reviews, with opportunities for community feedback.
The Coyotes have been renting out the Gila River Arena on an annual basis since Glendale City Council voted to pull out of a long-term, multi-million dollar deal in 2016. Glendale recently announced it will not renew its deal. with the franchise beyond the 2021-22 season. .
The Coyotes have played at Gila River Arena since leaving America West Arena, which they shared with the NBA’s Phoenix Suns, in downtown Phoenix in 2003.
Owner Alex Meruelo has said he plans to keep the Coyotes in Arizona. The franchise is looking for temporary accommodation to use after the 2021-22 season.
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