Seattle mayor to make announcement Wednesday on KeyArena’s future

SEATTLE — Mayor Ed Murray said he will be making an announcement about the future of KeyArena on Wednesday morning.

In a news release issued Tuesday afternoon, Murray said he will be joined at 10 a.m. Wednesday in the Seattle Center (KeyArena East Plaza) by the City Council, members of the community and key stakeholders in KeyArena.

This comes after one of two groups bidding to renovate KeyArena dropped out Sunday, saying the process “eroded our confidence in the ultimate execution of this project.”

In a letter, Seattle Partners announced their wish to withdraw pointing to the city’s lack of engagement and collaboration. They also raised questions regarding a competing proposal and the city’s decision to withhold certain financial details from the public.

Bob Newman and Alex Vouvalides, from Seattle Partners, said that they believe the city “failed to conduct a sufficiently thorough, objective and transparent process” when evaluating the two proposals for the renovation.

The Seattle Partners, backed by AEG and Hudson Pacific Properties, and Oak View Group submitted two proposals in April.