USA Basketball's new home in Tempe will be built as part of a $436M "urban showpiece," according to Metcalfe & Reagor of the ARIZONA REPUBLIC. Construction on USA Place is "expected to begin in December." One of two "final pieces of the deal recently fell into place: The developers reached a 99-year lease agreement" with Arizona State Univ. last week for use of 10.7 acres. Developer Concord Eastridge CEO Susan Eastridge said that the "last big hurdle, financing for the full project by a single as-yet-unidentified investor, will be completed by year end." Developers said that tenants "will include" the Arizona Interscholastic Association and a branch of the Basketball HOF. USA Place is "projected to draw 350,000 visitors annually" and generate $115M in "new tax revenue over 20 years for the state, county, Tempe and ASU." Completion is expected in late '16, with USA Basketball "moving from Colorado Springs to Tempe" in early '17. The 330-room Omni Hotel and 30,000-square-foot conference center will "anchor the north end of USA Place." USA Basketball HQ, the "event center (called the Center for American Basketball), a fitness center and the basketball hall of fame will be clustered at the south end." Harris Sports & Entertainment will "manage the Center for American Basketball, expected to be used 275 days per year" (ARIZONA REPUBLIC, 9/5).
