Seattle moves ahead with arena remodel to attract NBA, NHL
Seattle is moving forward with efforts to renovate the aging city-owned KeyArena into a premier venue that could be ready for an NBA or NHL team within three years.
The Seattle City Council on Monday approved a memorandum of understanding with Los Angeles-based Oak View Group to privately finance a roughly $600 million remodel that would nearly double the square footage of KeyArena. The facility housed the NBA’s SuperSonics until they relocated to Oklahoma City and became the Thunder.
Oak View Group has been focused on acquiring an NHL franchise and turning KeyArena into a world-class hockey and concert facility with the potential of hosting an NBA team in the future. It has said it could have the building ready by October 2020 if environmental approvals are obtained and demolition can start in October 2018.
“I believe this is the best thing for the city of Seattle whoever you cheer for,” said Councilmember Debora Juarez, who co-chaired the council’s committee on civic arenas. She said she was proud of the agreement that was hammered out “at little or no costs to the taxpayers” and embodied the city’s values.