$89 Million Complex Proposed
A comprehensive proposal to develop an $89 million athletics complex at the North Campus area of Cal State Northridge was distributed to university administrators Friday by Mark Steele, president of the development firm.
The complex would include a 10,000-seat multi-purpose arena called The Oasis Events Center, new football and baseball stadiums, a volleyball center and retail stores.
The venues would be rented to Northridge, although Steele said fees for Matador teams would be waived for several years. Events such as the Ice Capades, circuses, concerts and boxing matches also would be held.
A similar plan by Steele in 1995 was rejected because his financing was shaky. This time, he proposes to pay for the development primarily through the sale of certificates of participation with a guarantee from a bank or pension fund.
Initial reaction from Northridge administrators was guarded because of Steele’s earlier failed plan.
“I learned from the experience and I believe this is a viable plan for a world-class venue,” Steele said.