2 companies vie to remake Seattle arena to attract NHL, NBA

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In this March 16, 2017 photo, Tim Leiweke, head of the Oak View Group, talks on his phone as he walks in front of KeyArena in Seattle. Leiweke is expected to submit a proposal for a renovation of KeyArena, which formerly was home to the NBA's Seattle SuperSonics. Seattle is in the midst of an arena showdown with three groups putting forth proposals around two sites to build the possible future home for teams from in the NBA basketball and NHL hockey leagues. (AP Photo/Ted S. Warren) Photo: Associated Press/(AP Photo/Ted S. Warren)

SEATTLE (AP) — Two companies are vying to remake Seattle’s KeyArena into an entertainment venue that’s ready for an NBA or NHL team.

A city spokesman says Seattle has so far received two proposals ahead of Wednesday’s 5 p.m. deadline for bids.

The Seattle Times says Los Angeles-based Oak View Group submitted a $564 million plan that calls for the 55-year-old facility to be renovated by October 2020 and ready for the following NBA or NHL seasons.

Another proposal comes from Los Angeles-based arena giant AEG which teamed up with Hudson Pacific Properties. They say their arena will be built to attract and accommodate future NBA and NHL teams.

Chris Hansen, the investor hoping to build an arena to house a possible NBA basketball or NHL hockey franchise in Seattle’s stadium district, poses for a photo in front of a drawing showing a potential arena design, Thursday, Feb. 16, 2017, in downtown Seattle. Hansen stressed patience and optimism with his ongoing effort to get the arena built in an interview with The Associated Press. (AP Photo/Ted S. Warren)

A city committee is expected to review proposals and make a recommendation to Mayor Ed Murray in June. The city council would then decide whether to renovate KeyArena or go with a separate, new arena pitched for south of downtown by investor Chris Hansen.