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Catellus Development Corporation and Coyotes enter exclusive negotiating agreement for new arena and multi-sport facility
TEMPE, Arizona – Nov. 14, 2016 – Catellus Development Corporation, Master Developer for the Arizona State University Athletic Facilities District, has entered into an exclusive negotiating agreement with the Arizona Coyotes holding company, IceArizona Holdings, to produce a development plan for approximately 58 acres in the district that would include a new arena and commercial development project.
The proposed development location is on the Northwest corner of McClintock Drive and Rio Salado Parkway and would include a roughly 16,000 seat arena as the new home for the Arizona Coyotes, along with an attached 4,000-seat, multi-sport facility for utilization by Sun Devil Athletics, and 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.”
Catellus was selected by ASU in 2014 as Master Developer for the ASU Athletic Facilities District, a unique, 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 agreement provides for a period ending no later than June 30, 2017 to create the overall budget, design and operational plan for the development. 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.”
Located at the northeast end of ASU’s Tempe Campus, 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.
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About Catellus: Catellus is a national leader in mixed-use development, solving some of America’s most complex land challenges. With nearly 30 years of experience as a master developer, Catellus has transformed former airports, military bases and urban industrial sites into thriving retail, residential and commercial communities. These projects, which often include substantial public amenities, add economic, social and environmental value to the communities they serve. Catellus has both the financial strength and development expertise to turn vision into reality at even the most demanding development sites. For more information, visit www.catellus.com.
About Arizona Coyotes: The Coyotes are playing in their 20th season in the Valley of the Sun. The Coyotes play in the Pacific Division of the Western Conference of the National Hockey League (NHL). On the ice, the Coyotes are led by the league’s longest-serving Captain Shane Doan, and one of the NHL’s best defensemen in Oliver Ekman-Larsson. Off the ice, the Club is led by Majority Owner, Chairman and Governor Andrew Barroway, President and CEO Anthony LeBlanc, General Manager John Chayka and 2010 Jack Adams (best coach) winner, Dave Tippett. The Coyotes moved to the Valley of the Sun on July 1, 1996.
