DENVER BUSINESS JOURNAL - Anschutz Entertainment Group and Hudson Pacific Properties have teamed up as Seattle Partners to redevelop Seattle's 55-year-old KeyArena, the Northwest city's basketball venue.
Proposals are due today for KeyArena redevelopment plans.
AEG — Denver billionaire Philip Anschutz's Los Angeles-based entertainment business — and Hudson Pacific (NYSE: HPP) want to redevelop KeyArena to attract and accommodate future NBA and NHL teams, though the proposal does not rely on team acquisitions before moving forward with the redevelopment, Seattle Partners said. The venue would be renamed Seattle Coliseum, which was its original name.
KeyArena formerly was home to the NBA's Seattle SuperSonics, which left town in 2008 and are now the Oklahoma City Thunder. Built for the 1962 Seattle world's fair, the arena is infamous for being the site of the first "rain-out" in NBA history in 1986 when rain water leaked through the roof onto the playing court.
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