3-Mil-SF Mall and Offices to Surround Coyotes Stadium

PHOENIX-Owner of the Phoenix Coyotes Steve Ellman plans to build a three-million-sf entertainment/retail center around the new site of his ice hockey arena in Glendale, and for now has no plans for the vacated 42 acres in Scottsdale.

The Glendale City Council voted to accept a $180-million deal with the Phoenix Coyotes that will bring the team a 17,500-seat arena and add a three-million-sf commercial complex to the southwest corner of this Phoenix suburb. The city will contribute up to $180 million for the construction of the arena and, in exchange, will own it and receive all sales tax generated from the arena and other developments on the site, parking revenues and a split with the team of revenues on non-hockey events after the first 50. The team will lease the arena from the city for 30 years, but will receive free rent for the first decade and then pay about $1 million a year afterwards.

“This will truly become a crown jewel of Glendale,” Ellman says. “We will build a showcase for you that is something to be proud of.”