Suns May Build Downtown Arena and Hotel

The owners of the NBA’s Phoenix Suns say they are exploring prospects for building not only an arena downtown but a major hotel and shops there as well.

Suns President Jerry Colangelo said Thursday that he has discussed such a project wth two development groups and will travel to Chicago next week to meet with potential investors.

“The best of all worlds would be for a complete project to include an arena, a hotel and retail,” Colangelo said. “That would really have tremendous (economic) impact on downtown Phoenix.”

The team ownership has enlisted the aid of the Zef Bufman Sports, Entertainment and Facility Development Group to prepare a financing plan for the project, according to Colangelo. Bufman is a co-owner of the newly formed pro basketball team, Miami Heat.

The Suns have been playing at the 14,471-seat Veterans Memorial Coliseum here since their NBA inception in 1968 and the owners say they want a state-of-the-art facility that would accommodate larger crowds and offer luxury boxes, which would increase profits.