Business group ‘strongly supports’ Talking Stick Resort Arena renovations

A business group representing downtown Phoenix said it “strongly supports” the proposed $230 million dollar renovation plan for Talking Stick Resort Arena.

“I think that this is a solid way to get the building refurbished for the future,” said Dave Krietor, president and CEO of Downtown Phoenix, Inc., which was established in 2013 to attract more businesses, residents and visitors to downtown Phoenix.

The Phoenix City Council postponed a vote on the renovation plan. It was originally scheduled for Wednesday but was moved to Jan. 23.

Under the current plan, the city would pay for $150 million of the renovations while the Phoenix Suns would chip in $80 million.

Krietor said his group – which promotes the continued revitalization of downtown Phoenix – strongly supports the plan. He said the Suns have invested more than $150 million in improvements and paid the expenses to operate the arena, despite it being owned by the city.

He added downtown Phoenix is much different now than it was before the arena was built.

“Anybody that was around downtown Phoenix before the arena was developed would understand how critical that building and the economic activity that it’s generated has been to the resurgence of downtown Phoenix,” he said.

He said there wasn’t much happening in downtown Phoenix before the arena was built. That has changed. Now, more than 66,000 people work in the area and it is home to a diverse mix of retail, restaurants, bars and hotels, according to a study by Rounds Consulting Group.

The study also found downtown Phoenix generates about $167.7 million per year in tax revenue.

“A lot of that is spinoff activity from the events that occur downtown and the arena is a big contributor to that,” Krietor said, adding that the revenue goes to fund the Phoenix police and fire departments, parks and libraries.

Phoenix councilmembers will hold five meetings before the Jan. 23 vote to give residents more time to become informed about the proposed renovation plan and weigh in.

Krietor said he hopes Phoenix residents will learn more about the Phoenix Suns’ “broad and deep connectivity” with the community and the revenue generated by the arena that’s going to fund city services.

“I’m hoping that’s well articulated during these community meetings,” he said.

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