Would You Go To The ‘Seattle Coliseum?’
Before Seattle can secure an NBA or NHL franchise, the city must decide where they would put them.
The city of Seattle recently gathered proposals for replacing or renovating KeyArena, which is named for a former financial partner in Key Bank.
One of the most promising is a proposal from a group formed by Los Angeles-based company AEG and Hudson Pacific Properties. One of the reasons the proposal is so promising is that it does not rely on taxpayer funding -- at all.
The two companies formed a group called Seattle Partners, which would rename KeyArena to the Seattle Coliseum. The group says the public benefits to the city of Seattle are that the plan requires no risk to taxpayers or relying on new tax assessments. No one in Seattle is ready for more fees.
Taxpayers would bear no new costs even if the proposal calls for the city to retain ownership of the revamped facility, backers say.
Seattle Partners also claims the renovated venue would produce an estimated $144 million in surplus revenues that would go directly to city government over the course of the proposed lease, in addition to a projected $3 billion in tax revenues over the course of the project.
Earlier this month, Seattle Partners launched SeattleColiseum.com to help promote the plan.
The Seattle Coliseum would be built to attract and accommodate future NBA and NHL teams, though the proposal does not rely on team acquisitions before moving forward with the redevelopment. The renovated Seattle Coliseum would also provide increased capacity for entertainment and sporting events, including the latest in luxury suite upgrades. Check out more design concepts here.
Seating capacities for the new Seattle Coliseum:
14,832 (180-degree stage configuration)
15,750 (240-degree stage configuration)
16,770 (280-degree stage configuration)
19,202 (360-degree stage configuration)