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New Skanska Hunt Joint Venture Picked For KeyArena Renovation

KeyArena will include dedicated locker rooms for three teams, including the WNBA StormPOPULOUS

A new Skanska Hunt joint venture was picked by Oak View Group as the "general contractor for the two-year renovation" of KeyArena, according to Geoff Baker of the SEATTLE TIMES. The agreement brings together "global construction giant" Skanska and AECOM Hunt. Skanska built MetLife Stadium, while the latter company "overseen projects" like Mercedes Benz Stadium and Little Caesars Arena. Meanwhile, OVG is largely attributing the new $700M estimated cost for the project to "upgrades implemented to make the venue a 'top-third' revenue producer for both the NHL and NBA." OVG CEO Tim Leiweke and Seattle Hockey Partners CEO Tod Leiweke said that the planned arena size, sightlines and amenities "will compare with top facilities" in both the NHL and NBA. The upgrades "will see the project grow an extra 50,000 square feet to 750,000." The Leiweke brothers also said that part of the $100M price jump is "from mitigation efforts aimed at causing as little disruption to the surrounding neighborhood as possible." Under the revised plans, the seating capacity "jumps by several hundred to 17,400 for NHL and 18,600 for NBA while the venue will contain separate permanent locker rooms for teams in both leagues and the WNBA’s Storm." The project will "expand the walls further outward below its existing roof to maximize the square footage." Tim Leiweke said that all cost overruns are "being covered by his partners." There is a city council approval vote "expected in mid-September." Construction would begin "no later than early November, ahead of any ratification vote, so the renovation can be complete" by October '20 in time for "that year’s NHL season opener" (SEATTLE TIMES, 8/1).

PRICE POINT: Tim Leiweke said that costs "increased for several reasons, including putting in permanent locker rooms" for three teams. Leiweke also said that the additional 50,000 square feet was "added for storage and a premium club space was added at the top of the building with a view of the Space Needle" (AP, 7/31). Leiweke added that the increased costs "were in part due to plans for innovative excavation techniques that will help reduce the impact to the rest of Seattle Center and the surrounding neighborhood" (SEATTLEPI.com, 7/31).

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