Local leaders have asked Ellman Cos., a Phoenix-based investmentand real estate development company, to provide reams of financialrecords that can show that the firm has the cash and financialbacking to successfully redevelop the Los Arcos Project.
Ellman Cos. has worked for two years to turn an aging mall onthe southern rim of this upscale suburb into a state-of-the-artsports and entertainment facility. A 17,000-seat ice hockey arenawill anchor the 72-acre project, which will also include movietheaters, office space, lofts, restaurants, retail space and anaquarium.
The National Hockey League's Phoenix Coyotes are planning tomove into the new area from their current home in Downtown Phoenixwhen the new stadium is completed in 2002. Ellman is already busytrying to secure the purchase of the Coyotes for $87 million.
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