The proposal for an arena and entertainment district for the Arizona Coyotes has been approved by the Tempe City Council.
The Coyotes are looking to build an arena that will seat 16,000 people with an entertainment district at the west end of Tempe Town Lake on land owned by the city, located at Rio Salado Parkway and Priest Drive. The cost of the project is expected to be $2.1bn, of which at least $1.9bn will be funded privately. It will also include a theater that will seat 3,500 people, two hotels, and close to 2,000 residential units.
Banner printing is often used at such sites so that residents are informed of any potential projects in the pipeline.
Xavier A. Gutierrez, CEO of the Coyotes, said that this entertainment district will be of great benefit for the city. He added that it will not only provide a home for the team, but will also become a vibrant town square for the city and create millions of dollars in tax revenue, along with thousands of sustainable jobs.
Alex Meruelo, owner of the Coyotes, said that they are committed to helping the city and making a difference for its people. He added that he can see the team remaining in the city for many years to come.
The proposal will be going for a voter referendum on Tuesday, May 16, 2023.
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