YOUR BUSINESS AUTHORITY
Springfield, MO
First one, then two, and now three developers want to build an arena for minor league hockey and other events in Jordan Valley Park.
St. Louis-based Tony Sansone Jr. announced his plans for such an arena in late 1999. Then Chicago-based developer Horn Chen, the majority owner of the Ozark Mountain Ducks, expressed his interest. Now, a third group, Nustadia Developments USA Inc., has joined the lineup.
Chen's representatives made a formal announcement of his interest April 28. Attorney Chip Sheppard, who represents Chen, presented the developer's proposal, which would be an 8,000-seat arena for minor league hockey, arena football and other events, at a cost of $17 million. Sansone's arena has been projected to cost $24 million.
Nustadia has not yet estimated what its project cost would be, said John Akerley, senior vice president of Nustadia Developments USA and a major shareholder in Canadian Cochrane Group, the parent company of Nustadia.
Nustadia has more than 30 years of experience in stadium development, Akerley said, and it has an affiliation with the Western Professional Hockey League. That league would seek to form a team in Springfield, he added.
Which of the three suitors will ultimately win the city's hand in development remains to be seen.
Mary Lilly Smith, economic development coordinator for the city, said a feasibility study will determine where Springfield turns next.
"The feasibility study is to determine whether we can support an arena in Springfield, and once we have that in hand, then we will weigh the proposals against each other," Smith said. The feasibility study is due mid-May.
While Akerley's facility would probably house the Western Professional Hockey League, Chen's would be home to the Central Hockey League, of which he is majority owner. Sansone has had conversations with the United Hockey League.
Akerley said the hockey tenant would be key to having a successful stadium.
"We run these as a business, and as a business we have to sustain ourselves financially. Having a major tenant helps us do that because we know we have a certain number of events planned for a year," Akerley said.
In addition to hockey, Akerley said the company hopes to entice arena football and other events.
Chen's proposal for the downtown area may not be his final proposal, Sheppard said.
The developer has an interest in getting the Central Hockey League into the area, and Sheppard said Chen may look elsewhere if he is not chosen to develop an arena downtown.
"There's a very real possibility that he would look elsewhere in town, and the most logical place would be out in Ozark where Price Cutter Park is already located," Sheppard said.
Nustadia, will wait its turn, Akerley said.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
Longtime employee sues Ozarks Tech, alleges retaliation
Cavender’s opens hat shop in southeast Springfield
Eric Schmitt introduces Modern Skies Act
Caterpillar to acquire John Fabick Tractor Co.
Springfield airport to cut the ribbon on $35M in construction projects
Legacy Bank accused in lawsuit of failing to protect customers in data breach