Not long after he and partner Wayne Gretzky took ownership of the team, Ellman began talking about how easily he could find a home elsewhere in the Valley for the ice hockey arena. The West Valley, recently spurned in the race for the Arizona Cardinals stadium, is eager to have a signature project that will put them on the map. Ellman has met with West Valley officials, as well as others throughout the Valley, about putting the arena in a community other than Scottsdale.

But Scottsdale's attitude toward Ellman has taken on an air of indifference. If Ellman fails to produce substantial teams for his redevelopment plans for the former Los Arcos Mall site by March 5, then he can go ahead and locate the team elsewhere, city officials have said. March 5 is when the Los Arcos Stadium District, which allows Ellman access to the millions in public funds, is set to expire.

Scottsdale officials feel that Ellman should have closed on the team long ago and that details of the $575-million redevelopment project should have been more than sketched out. As bleak as the relationship with the city seems, representatives for Ellman seem confident that an agreement suitable to both sides can be reached by the deadline; and if that date nears and progress is being made then the city will once again extend the completion date for the stadium district.

Ellman wants to make the ice hockey arena for the Phoenix Coyotes the cornerstone of a retail and entertainment complex at the southeast corner of Scottsdale and McDowell roads in southern Scottsdale. The project will include a 331,000-sf, neighborhood shopping center anchored by a home improvement store, 763,000 sf of retail and entertainment space, a multi-screen movie theater, a 100,000-sf aquarium, 186,000 sf of office space, as well as 350 condominiums and nearly 10,000 parking spaces.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.