Since their loss in the special election requested by the team, the Arizona Coyotes have been on the search for a new home.
Back in March, the Coyotes released renderings for their proposed arena and entertainment district off the Loop 101 Freeway and Scottsdale Road in North Phoenix.
At that time, no date had been set for the auction, but a file number had been assigned by the Arizona State Land Department (53-124365).
The minimum bid for the auction is set at $68,500,000. Coyotes Governor and Chairman Alex Meruelo, despite reports that he had been shopping for new owners, announced his commitment to win the land auction.
Per the Coyotes announcement, the plan will create $15.5 billion in new spending, generate 10,800 new jobs and $581 million in new tax revenue.
“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,” said Meruelo. “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.”
The new arena has a proposed NHL capacity of 17,000 with an additional 1,500 seats for events, as well as a 3,000 seat concert venue, 400,000 square feet of multi-purpose commercial and watch party plaza, 1,900 residential units, as well as 400,000 square feet of Class-A office space.
The auction for the 110.06 acres of land is set for June 27th at 10:00 am MST.
https://feeds.transistor.fm/the-chirpin-yotes-podcastMore must-reads: