Update: Auction date set for Phoenix land Coyotes want for arena
Apr 5, 2024, 6:57 AM
Arizona Coyotes arena renderings leaked on the team's app. (Arizona Coyotes app)
(Arizona Coyotes app)
PHOENIX, Arizona — The land in northeast Phoenix that the Arizona Coyotes said they are targeting to purchase for the development of a new arena has an auction date set for June 27.
The Arizona State Land Department on Thursday listed the auction for the tract of land on the northwest corner of the Loop 101 and Scottsdale Road near Desert Ridge Marketplace.
“My family and I are committed to winning this land auction and building a transformative entertainment district that will not require taxpayer funding for the first time in Arizona history,” Coyotes owner Alex Meruelo said in a statement released after the notice was posted. “We will buy this land, build this development and finish a project that will incur the cost of more than $100 million in infrastructure improvements with no burden placed on taxpayers.
“We are excited that the proceeds from our land auction bid will also generate revenues to fund local education throughout the state of Arizona and support the communities that have been so loyal to the Coyotes for many years,” Meruelo added. “Arizona is our home and an incredible market where the Coyotes belong. This district would provide a beautiful home for the Arizona Coyotes for decades to come. Our loyal fans deserve this vibrant gathering place that would serve as a landmark to create lifelong memories.”
Arizona Sports’ John Gambadoro reported on Thursday before the listing was posted that Meruelo has spoken to potential buyers, both inside and outside of Arizona, to gauge their interest in purchasing the NHL franchise.
Gambadoro added that Meruelo was seeking upward of $1 billion for the franchise that he bought in July 2019.
A March 14 state land department meeting cleared that land to be auctioned, according to the meeting agenda that lists the Coyotes’ Miracle Development LLC. The auction must be publicly listed for at least 10 weeks before it takes place.
The Arizona State Land Department Board of Appeals unanimously approved the $68.5 million appraisal of the 95 acres. Bidding will start at that amount and must be made in $100,000 increments at minimum.
Included with the auction posting was a letter from the city of Phoenix with public infrastructure obligations to a potential developer, which includes zoning information, along with fire, water and traffic recommendations. The estimated cost for those additions is $80 million, according to the auction notice.
The Coyotes said in their statement that the development would include a 17,000-seat arena and 150,000-square-foot practice facility.
It would also feature a concert venue for a live music theater for 3,000 attendees, 400,000 square feet of retail and a multi-purpose watch party plaza equipped with a supersized screen for viewing events. The district would be covered by a 170,000-square-foot canopy spanning the arena to the theater.
