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AEG, Oak View Group Vie In Seattle
Proposals from
Seattle Partners – Seattle Partners Artist Rendering
Seattle Partners artist rendering of proposed KeyArena refurbishment.
Seattle’s Office of Economic Development announced shortly after the 5 p.m. deadline the two bids were received, and Mayor Ed Murray declared that “today is an important day in our goal of bringing the Sonics home and the NHL to Seattle.
“Two well-known organizations submitted proposals to redevelop KeyArena. …Their interest shows how Seattle has become one of the most desirable cities in America for sports and entertainment.”
In January, city officials sought proposals to reimagine KeyArena into a facility that attracts more music, entertainment and sports events, including a potential NBA or NHL team.
Developers would be responsible for all costs for redevelopment and construction.
Oak View Group submitted a $564 million plan that calls for the arena to be renovated by October 2020 and ready for the following NBA or NHL seasons, the Seattle Times reported.
“We’re going to do this and stand on our own two feet,” Oak View Group CEO Tim Leiweke said of his plan, which comprises 18,350 seats for NBA games, 17,100 for NHL contests and 19,100 for concerts. “And we believe by doing that we give Seattle its best chance at getting one or two teams.”
A $520 million proposal comes from AEG, which has teamed up with Hudson Pacific Properties, a real estate development company, to form Seattle Partners for the arena bid. They say their arena will be built to attract and accommodate future NBA and NHL teams and they also said the renovation could be finished as early as October 2020.
“The arena itself has great bones,” AEG Facilities President Bob Newman said of his proposed 18,113-seat NBA facility, with 17,120 seats for NHL and up to 19,202 for concerts. “The World’s Fair in 1962 and up until now, it has had an amazing life span. But what we found in this process is you can renovate it and make it the best arena in its class while capturing a lot of what’s already in place.”
Both companies have secured powerful partnerships that could help them lure a professional hockey team to the Seattle market, the Times reported and, as the RFP deadline approached, details about those partnerships emerged.
Oak View Group has signed a contract with Delaware North, a concessionaire company owned by Jeremy Jacobs – who has owned the NHL’s Boston Bruins since 1975 and is chairman of the league’s board of governors.
OVG has also rounded up a team of partners on the project including, not surprisingly,
AEG also has deep connections with the NHL and NBA through its relationships with the Los Angeles Kings and Lakers, as well as its own facility management and concert promotion arms. Partner Hudson Pacific is run by Victor Coleman, who has not hidden his desire to draw an NHL team to Seattle, including working at one time on behalf of investor Chris Hansen to bring an expansion team to a new arena proposed for Seattle’s SoDo District that is still in play.
Hansen is still trying to get an arena built on land he owns near
A city advisory panel is expected to review KeyArena proposals and make a recommendation.