Confirmed with Link: Hurricanes extend PNC Arena lease for 20 years, Govt allocates $300m to arena renovation, Gale Force at least $800m to land development of the complex

[Svechhammer]

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[MinJaBen]

BREAKING NEWS: Quebec City in talks to buy the PNC Arena in Raleigh and move it to Canada. Qui!

 

[Surrounded By Ahos]

Woah

 

[Chrispy]

Woah

Only surprising thing to me is that the league didn't push for a draft as well.

I know Dundon doesn't see as much value in hosting the draft, but it was successful here and almost certainly would be again.

We get the big events with another C-F game and another All-Star game. And if you want crazy thoughts...why not an All-Star game in Carter-Finley!?

 

[Svechhammer]

Woah, they're not f***ing around with the development of the land around the arena...

 

[Anton Dubinchuk]

Over here in Atlanta, the Battery has been the best thing to happen to the Braves and to Cobb County in a long long time.

Excited for you guys in Raleigh. And excited to check it out once it’s done.

 

[Svechhammer]

The Phase 1 commitment by Gale Force includes developing at least 100,000 square feet of retail/dining space, 150,000 square feet of office space, 200 multi-family residential units, a 150-room hotel, and a 3,000-5,000 capacity indoor music venue. Additionally, Gale Force will provide 10% affordable, workforce and/or faculty housing on all phases at no more than 80% of area median income levels. Gale Force will also commit to replacing 95% of any public parking displaced by the development and will set aside five acres for a dedicated tailgate zone.

I can't lie., I like everything I'm hearing about this. The arena is going to transform to a complete entertainment district, and not just be sports-centric

 

[the halleJOKEL]

this seems good imo

 

[Surrounded By Ahos]

this seems good imo

big if true

 

[chaz4hockey]

I can't lie., I like everything I'm hearing about this. The arena is going to transform to a complete entertainment district, and not just be sports-centric

Bojangles folks will not be one of them......

 

[Stickpucker]

Woah

Ol Tommy Boy got em by the balls and is feeling hyped.

 

[Stickpucker]

Only surprising thing to me is that the league didn't push for a draft as well.

I know Dundon doesn't see as much value in hosting the draft, but it was successful here and almost certainly would be again.

We get the big events with another C-F game and another All-Star game. And if you want crazy thoughts...why not an All-Star game in Carter-Finley!?

imo drafts are most fun in places where they have a shot at a top 5 pick.

 

[Blueline Bomber]

Woah

I mean, that's cool, but talk about a spin. Within 10 years after renovations are complete sounds like the typical timeline the Canes would have had another ASG anyway.

 

[Svechhammer]

The News and Observer has a lot of detailed information regarding this....

The area allotted for land development are only the paved lots around PNC Arena. All of the lots on the Carter-Finley side will remain unaffected. There will be a 5 acre dedicated tailgating zone in an area near C-F that the arena owns, I don't know what that is. There will always be tailgating for Canes games, this is just to add another option for those who prefer to grab a bite to eat or a drink at a bar before/after a game. The tailgating is just going to move, and any of the paved lots that get displaced will be made good by a parking deck that will be no larger than 3 stories tall.

The 5k seat indoor/outdoor music venue is not counted in the $800m allocation to the land development.

Centennial Authority now has a budget for what they can spend to renovate the arena. They now have to decide on plans to make sure it meets everyone's needs while bringing it up to modern standards.

The Canes are also on the hook to completely overhaul the infrastructure from Wade Avenue to the arena. For those of you who experienced that shitshow from the SS game, this is a welcome development.

This also replaces the existing lease extension in place and completely removes any ability for the Canes to move before 2039 at the earliest, and that can only be triggered if the team feels things didn't progress well enough with how things have gone. That said, the Canes are also on the hook to pay a 6% tax on the land through 2096, so.... There's a bit of an anchor in place.

 

[Joe McGrath]

I mean, that's cool, but talk about a spin. Within 10 years after renovations are complete sounds like the typical timeline the Canes would have had another ASG anyway.

Not really. The Rangers, Bruins, Flyers, and Penguins haven’t hosted since the 90s. The Capitals, Islanders, Red Wings and Sabres haven’t hosted since before the Whalers did in ‘86. It’s not a rotation.

 

[BrindAmours Army]

They now have to decide on plans to make sure it meets everyone's needs while bringing it up to modern standards.

I'm hoping that doesn't mean that NC State can continue to act as a roadblock.

But holy hell, was not expecting another Stadium Series game to come as part of this

 

[Nikishin Go Boom]

I'm hoping that doesn't mean that NC State can continue to act as a roadblock.

But holy hell, was not expecting another Stadium Series game to come as part of this

Tom D considered buying an outdoor ice set himself due to the response here. Im not that surprised.

 

[Svechhammer]

I'm hoping that doesn't mean that NC State can continue to act as a roadblock.

But holy hell, was not expecting another Stadium Series game to come as part of this

Centennial Authority has now been given the green light to progress with it. This agreement was removing that road block.

The N&O article said that cost is still going to be a big hurdle. $300m sounds like a lot, but construction costs have skyrocketed, and they don't have much margin to play with to bring it to modern standards while staying in that budget.

 

[tarheelhockey]

Big day for the franchise. There are still A LOT of shoes left to drop, as always with major construction projects. It might be messy around the arena for the next little while, which we will gripe about in the short term. But man, what a satisfying moment to see this vision come together. Dundon really turned this shit around in a dramatic way.

 

[Bunch of Jurcos]

Suck it cable guy

 

[Nikishin Go Boom]

And millions of QC and Montreal trolls were silenced

 

[Navin R Slavin]

Win and they will come. That was Dundon's philosophy from the beginning, and here we are.

 

[To Be Determined]

To paraphrase obi-wan...

I felt a great disturbance in the Force, as if millions of voices suddenly cried out 'tabernac!' and were suddenly silenced. I fear something hilarious has happened.

 

[Svechhammer]

Big day for the franchise. There are still A LOT of shoes left to drop, as always with major construction projects. It might be messy around the arena for the next little while, which we will gripe about in the short term. But man, what a satisfying moment to see this vision come together. Dundon really turned this shit around in a dramatic way.

But seriously. After everything we as fans have dealt with for so long throughout the Karmanos years, to see an announcement now regarding concrete plans into building the entire area up to be a world class entertainment district with state support and sign-off is a little nuts. Like, we seriously thought the team wasn't going to survive here, and without an owner who was willing to eat some cost to effectively home grow what was already here with a long term plan, it probably would have. After all those worries about how awful he'd be at the start to now see us as a top contending team for the 3rd straight year while always spending to the cap, a sold out arena most nights, 5 straight years of the playoffs, having just played an outdoor game at Carter Finley almost exactly 6 months ago, and now seeing a $1.1 billion long term investment into the arena complex? What the shit, if you told me this 8 years ago I wouldn't have believed you. At all

And millions of QC and Montreal trolls were silenced

And they can collectively get f***ed. There will not ever be a time where I will not take the opportunity to pour salt in their suffering after how they acted toward us.

 

[Finnish Jerk Train]

Just saw a cable guy fall to his knees at the Reno Depot in Quebec