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Sunday, June 23, 2024

Group Behind the Kraken’s Home Bids to Redevelop a Seattle Stadium

  • Oak View Group developed the Seattle Kraken's Climate Pledge Arena, and now have their sights on a neighboring stadium.
  • Seattle is fielding proposals to redevelop Memorial Stadium.
Climate Pledge Arena is near Memorial Stadium and the Space Needle.

The developers of the Seattle Kraken’s home are bidding on another major project in the neighborhood.

Oak View Group, which built the Climate Pledge Arena, is bidding to demolish and rebuild Seattle’s Memorial Stadium.

The 76-year-old, 12,000-capacity venue — which hosted the 1962 World’s Fair — is located in Seattle Center, which houses Climate Pledge, the Space Needle, and the Seattle Children’s Museum. The venue is currently used mostly by student groups but could see its uses expand after redevelopment.

One other group submitted a bid ahead of last week’s deadline.

The Seattle school district has pledged $66.5 million toward the project, with an additional $25 million from city and state governments. The entities are seeking private investment as well.

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Oak View’s previous design — created for a 9,400-seat stadium in place of Memorial Stadium — cost an estimated $250 million.

Kraken CEO Tod Leiweke, brother of Oak View CEO Tim Leiweke, said that if the group is selected, “it will be the biggest commitment we’ve made to this community.”

Previously KeyArena, Climate Pledge reopened in 2021 following a $1.15 billion renovation and is currently hosting its first NHL playoff run. The Kraken, who entered the league in 2021, are taking on the Dallas Stars in a second-round series.

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