Phoenix approved US$230 million investment for its downtown stadium

Category: News
Published: 2019-01-31

The City Council of Phoenix approved a US$230 million renovation plan for its downtown stadium that will maintain the NBA’s Phoenix Suns in the city until at least 2037 with the option to extend it until 2042.

The plan was approved by a 6-2 vote after a 3 hours-discussion among council members, residents and business leaders.

The city will contribute with US$150 million for the renewal with money from its Sports Facilities Fund, which consists of tourist taxes on hotels and rental cars.

The renovation is expected to be completed in 2021, which will include repair and replacement of mechanical, electrical and plumbing infrastructure for the stadium.

Originally, council members were scheduled to vote on the renovation project on December 12, but the vote was delayed by growing concerns about the cost and funding sources for those renovations.