Coyotes Plan Move to East Valley, Gives People Hope for Larger Good Fortune.
The Arizona Coyotes have found a new home in Tempe Arizona. It goes to show how valuable our East Valley real estate has become. The coyotes are moving from their home in Glendale to a new location near Tempe Marketplace. They're set to take the ice by the 2019 season. It's believed the cost of the project will be in the neighborhood of $400 million and is similar to other new sports facilities in Las Vegas and Sacramento. Paradise Valley, Scottsdale, and Tempe are likely to see the same economic benefits that University of Phoenix Stadium brought to Glendale. The Cardinals' $455 million stadium added 3,500 jobs and $400 million in economic benefits to the area. Each year the Cardinals contribute $150 million to Glendale's economy. The same benefit could be found in the Coyotes new stadium.
On November 14th, 2016 the team announced it is entering an exclusive negotiation agreement with the master developer for Arizona State University's athletic facilities to complete the commercial project on a 58 acre piece of land on the northwest corner of McClintock and Rio De Salado. The arena will have a 16,000-plus seat capacity with an adjacent 4000 seat arena that will be home to ASU hockey and offer our local community a chance to get on the ice.
ABC15 provides a visual of the new location:
The coyotes will be the first professional franchise to partner with the school to develop two buildings that will work for both partners.
So far there's been an immediate overwhelmingly positive response to the team's anticipated new move to the East Valley, Coyotes president and CEO Anthony LeBlanc to ESPN on Monday.
"It's been completely embraced by the fan base and by the corporate partners," LeBlanc said.
The coyotes found that most of their fans lived in the East Valley and didn't want to travel to Glendale to see their team play.
Trulia found that having a stadium boosts home values by nearly two thirds, than houses in non-stadium neighborhoods. Indeed, industry experts agree that having a new stadium built spurs economic growth and increases home values and sales. The Coyotes new stadium has the potential to increase home values in the East Valley between 3% and 15%, based on the conclusion from a study of similar stadiums.
Givepad, a local philanthropic real estate company has an office on the Scottsdale Waterfront is just a few miles away from the proposed venue. Each home sale is an opportunity to reinvest in the community, as Givepad donates a portion of their proceeds to charity. The company is excited to help Coyote players find homes in Scottsdale luxury waterfront towers or Paradise Valley Estates, close to the new facility. In fact, some of the team already lives in the Scottsdale area. Shane Doan, Max Domi, and Ray Whitney all call our paradise neighborhood home. Now with the Coyotes in the East Valley, this move should finally resolve issues of the team's visibility in Arizona.
Next the coyotes will have to finalize their budget, design, and operational plans no later than June 30 2017. Until then, residents can expect the excitement to build up in anticipation of this new economic boom to their neighborhood.
About: Givepad is a philanthropic real estate brand based in Scottsdale, AZ. Founded on the idea of using their combined 15 years of real estate experience to give back in the community. Givepad’s pledge is to donate a portion of their earnings from every real estate transaction.
Address: 7135 E Camelback Rd Suite 180 Scottsdale, Arizona 85251 M:480.229.0123 O:480.669.0777 email@example.com
Sources: ABC15 ArizonaSports.com AZBigMedia.com ESPN