The sold 217-acre land in north Phoenix, previously earmarked for an NHL hockey arena.
A 217-acre piece of land in north Phoenix, once intended for a new NHL arena for the Arizona Coyotes, has been sold for $136 million to Mortenson. This auction, featuring over 40 bidders, signals a major shift for professional hockey in the area as the Coyotes prepare to relocate to Salt Lake City. The Maricopa County Board of Supervisors aims to explore options for reinstating NHL hockey in the Valley, following the Coyotes’ departure. The local sports landscape continues to evolve amidst residential development and ongoing lease negotiations with other sports franchises.
Phoenix – A significant piece of land in north Phoenix, initially earmarked for a new NHL hockey arena for the Arizona Coyotes, has been sold for $136 million. The 217-acre property was sold to Mortenson, a Minnesota-based real estate development firm, during an auction held by the Arizona State Land Department in downtown Phoenix, signaling a crucial shift in the future of professional hockey in the region.
The auction attracted interest from over 40 participants, both in person and online, with the bidding starting at $110 million. After an extended competition lasting nearly 10 minutes, Mortenson edged out Verde Investments, which is owned by the largest shareholder of Carvana, Ernie Garcia II. Verde Investments made a final bid of $135 million before Mortenson secured the property with a bid of $136 million.
The sale of this land occurs in the backdrop of the Arizona Coyotes relocating their hockey operations to Salt Lake City after the 2023-24 season. Following their exit from Arizona, the Coyotes will now operate under the name of the Utah Hockey Club. This move represents the end of an era for the franchise, which had called the Valley home for 27 seasons but ultimately failed to secure a permanent arena location.
In response to the Coyotes’ departure, the Maricopa County Board of Supervisors convened for its first meeting of 2024 to discuss plans aimed at reinstating NHL hockey in the Valley. During this meeting, County Chairman Thomas Galvin announced intentions to form an advisory committee with a vision to bring a new NHL team to the area. The committee is expected to work closely with NHL Commissioner Gary Bettman in exploring potential options.
The Coyotes have faced a tumultuous journey in Arizona, including the termination of their lease with Glendale after 18 seasons, followed by two seasons at Mullett Arena at Arizona State University. Efforts to build a new arena and entertainment district in Tempe were dashed after residents voted against the proposal. This lack of a permanent home contributed significantly to the team’s decision to move out.
Amidst the Coyotes’ exit, Bettman has expressed the belief that hockey still has a place in Arizona, indicating the league’s support in finding a new owner and location for a potential NHL team. This sentiment reflects the ongoing commitment to the sport’s presence in the region.
The departure of the Coyotes raises questions about other sports franchises in the area. For instance, the Arizona Diamondbacks, who play at Chase Field, are currently in lease negotiations with Maricopa County, with their lease set to expire in 2027. Local officials, including Matthew Galvin, have assured the public that addressing the Diamondbacks’ lease challenges will be a priority, keeping taxpayer interests in mind.
Additionally, plans for developing apartments on land previously intended for a Coyotes arena in Tempe have progressed, receiving approval from city councils. This development signals a shifting focus toward residential needs amidst the uncertainty surrounding the hockey franchise.
Legal battles have also played a role in the Coyotes’ situation, with Phoenix having previously filed a lawsuit against Tempe regarding zoning changes related to the proposed new arena and adjacent residential plans. This highlights the ongoing complexities of urban planning in accommodating both new developments and existing sports franchises in the Phoenix area.
Overall, as the Phoenix community processes the departure of the Coyotes and contemplates the future of professional hockey, the sale of the 217-acre site marks a pivotal moment in this ongoing story.
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