The Arizona Coyotes are inching closer to the goal line in their pursuit of a new home, as the procedure to acquire state-owned land for a fresh arena takes shape. The Arizona State Land Department Board of Appeals has unanimously approved the appraisal of a 95-acre parcel in north Phoenix, pegging the land's worth at $68.5 million, according to 12News. This green light paves the way for the upcoming auction, with advertisements for which are expected to run for 10 weeks.
The team, which has bounced from one temporary home to another since their former owner declared bankruptcy in 2009, is looking to establish more stable roots. Despite craving the certainty of a permanent venue, as NHL Commissioner Gary Bettman recently voiced, "this isn’t a 60-minute game where the light goes on and the game’s over." Alex Meruelo, the Coyotes owner, continues to seek a resolution to the housing quandary, as reported by 12News.
Bid discussions and potential financing strategies are currently underway between Miracle Development, the team's development arm, and the Land Department. That said, an approved bid isn't the last play for the Coyotes, as the auction process and subsequent bids from various interested parties will ultimately cement the fate of the proposed sports and entertainment complex. The minimum price based on the state's appraisal sits at over $700,000 per acre, a significant investment in the future of the franchise and the region. Information provided by 12News indicates that the proposed development will include mixed-use components, though specifics about the inclusion of a professional hockey arena remain unconfirmed.
Yet, the check to Phoenix's infrastructure, construction on the desert site comes with complications involving a lack of current sewer or water service and a FEMA-designated floodplain. The City of Phoenix's requirements for building in such an area may lead to escalated costs due to necessary flood mitigations. "The site is 'vulnerable to flooding threats that trigger a variety of potential mitigation requirements," the city wrote to the Land Department in a statement obtained by 12News. As these details surface, the Coyotes and their ambitious timeline for a 2027 opening might contend with more challenges beyond the auction block.
Hovering over the entire initiative is the patience of Gary Bettman and his continued support amid the team's financial woes. While Bettman has been a consistent advocate for the Coyotes, alternative cities like Salt Lake City are making plays for NHL expansion, creating a sense of urgency for the Coyotes to solidify their home ice, and potentially, strengthen their position in the league. With a looming auction, future negotiations, and construction hurdles ahead, the path to a permanent den for the Coyotes remains fraught with uncertainty.
