Council: Cautious optimism about KeyArena renovation
SEATTLE -- Another meeting and more process for Seattle, but this time more signals a deal could be done for an arena.
The “Select Committee on Civic Arenas" is plural because a redevelopment of KeyArena is very much in play alongside the long-simmering idea for a new building in Sodo from investor Chris Hansen.
Love it or hate it -- the prospect of a new KeyArena is closer than ever to becoming reality.
“Now that we have more people knocking on the door and saying look, we want to come in and do something---we didn`t have that before,” said council member Debora Juarez after Monday’s hearing.
She co-chairs the arena committee and knows a lot is at stake for the former of home of the Sonics---a building that's certainly seen better days.
Two big time players in Anschutz Entertainment Group and Oak View Group will be offering competing deals next month to renovate or replace the Key at little to no cost to taxpayers.
It'll still be a city asset---something that isn't entirely true of the Sodo plan. The council could boost the city's bottom line near the city's tourist center while someone else foots most of the bill and they can avoid political pressure from the Port of Seattle.
Not bad. but not all smooth sailing
“We made it very clear that transportation impacts was a dealbreaker. That those had to be addressed first and foremost,” Juarez said.
Queen Anne's Uptown area has exploded with development in recent years. Traffic troubles can't be waved away with a fancy new arena. There's also the nagging issue of KeyArena itself.
Its iconic roof and other Seattle Center mainstays could be given landmark status, making renovation complicated and a total teardown impossible
“I`m not pleased at all with how that sort of plays out. That we`re asking some very sophisticated investors to look at our proposal,” said co-chair Bruce Harrell.
Those groups each have to come up with two plans: one if Key becomes a landmark, and one if it doesn't. But none of this means a whole lot if there's nobody for fans to root for
“We are dancing around the elephant in the room. And the elephant in the room is are you going to get us a team,” Harrell said.
The council wants the proposals that can help the arena stand on its one without an NHL or NBA team. A mix of events, the Storm and concerts have helped KeyArena make a slight profit since 2010.
The renovation groups will submit their proposals next month with a final decision possible by July.