Glendale won't renew Coyotes' arena lease (Phoenix, Mesa: leases, neighborhood, flight path)

[locolife]

Originally Posted by take57

Keep an eye on what interest rates do. A development of this scope is going to be very sensitive to the cost of money. It probably won't take too much of a rate increase to make this project not pencil out unless it's private money they're playing with. High risk in terms of depending on consumer discretionary funds to drive cash flow and a long payout time frame for the investor. No thanks.

That said, don't let me throw water on the idea

If it wasn't already well under construction with a spring 2023 opening date I'd agree (there will be a huge push to make sure this stays on track to happen before the Super Bowl). Of course things can still go wrong at this stage and I don't know anything about VAI but I'd say it's much lower risk of not happening since it's already fairly well progressed.

[marinezac]

Originally Posted by Valley Native

Good points. I don't often agree with Ponderosa, but he's correct about the potential for this to become a no go based on how many other projects of this nature have never materialized. Even if the expanded plans come to full fruition, the project will still be rather small scale on a theme park/attraction level compared to the well known entertainment complexes in CA, FL, etc.

I have to agree, we have had so many of these plans start and fail. Constructions starts and then ends, very sensitive to economic conditions

[locolife]

Originally Posted by marinezac

I have to agree, we have had so many of these plans start and fail. Constructions starts and then ends, very sensitive to economic conditions

Plans that never start construction yes, what examples are you talking about where significant construction starts and then it fails to be built?

[timothyaw]

It's official, Tempe voted to approve the development. I guess it's not the final vote on the matter, as they can make some changes. But this is good news.

[KO Stradivarius]

The big issue is the planned apartments/condos in the submitted plan. Since there is an agreement between the Tempe and Phoenix to not build residences so close to the airport, the plan was flawed. Not sure if the funding plan for the project will still be viable without the apartments. They voted Yes to continue the discussion and changes can still be made.

https://arizonasports.com/story/3161...ontinue-talks/

[observer53]

Originally Posted by timothyaw

It's official, Tempe voted to approve the development. I guess it's not the final vote on the matter, as they can make some changes. But this is good news.

No. They voted to authorize entering into discussions about the development. Long way from approving.

[Ponderosa]

Originally Posted by observer53

No. They voted to authorize entering into discussions about the development. Long way from approving.

Yes, and with their own analysis raising questions about the team's financial strength and the FAA raising questions about safety, it is anything but a done deal.

[Bondurant]

Originally Posted by Ponderosa

Yes, and with their own analysis raising questions about the team's financial strength and the FAA raising questions about safety, it is anything but a done deal.

Part of me thinks the FAA "concerns" are rubbish and a political favor is being pulled to sandbag Tempe from opening new arena that will bring cash and possibly the Suns down the road out of Phoenix.

[Valley Native]

The FAA is way too intrusive. Having a sports/entertainment complex in close proximity to a major airport should be no big deal. The arena would be enclosed, and built to drown out the noise from overhead aircraft. I can see how the proposed residences can be a concern, but even they should be constructed to withstand any flight issues. Article below demonstrates a technological way to help ease the strain of noise in a citified environment. NIMBYs who constantly complain about noise from jets, helicopters, trains, and general traffic should take note!

https://www.nytimes.com/2020/07/11/s...eet-noise.html

[Ponderosa]

Originally Posted by Valley Native

The FAA is way too intrusive. Having a sports/entertainment complex in close proximity to a major airport should be no big deal. The arena would be enclosed, and built to drown out the noise from overhead aircraft. I can see how the proposed residences can be a concern, but even they should be constructed to withstand any flight issues. Article below demonstrates a technological way to help ease the strain of noise in a citified environment. NIMBYs who constantly complain about noise from jets, helicopters, trains, and general traffic should take note!

https://www.nytimes.com/2020/07/11/s...eet-noise.html

I think it is also about the risk of a plane crashing into a packed stadium. They cleared hundreds of homes from the flight path on the other side of the airport for that reason. They also closed down the family farm attraction near Luke because of crash risk. If a plane did hit the place, there would be no end of outrage directed toward the FAA. Better safe than very sorry.

Anyway, NIMBYs gonna NIMBY. As soon as the thing gets finished all the residents and the businesses that supposedly will occupy the place will start howling about the noise, getting their representatives to pressure FAA, wanting to close Sky Harbor, etc. You either get an in town airport or you get a financially troubled sports stadium in a questionable location. Easy choice. The best use for that property is vacant land.