Hockey arena delayed at Merle Hay Mall

STORM TEAM 8 FORECAST. STACEY. THANKS, CHRIS. YOU WILL HAVE TO WAIT TO WATCH HOCKEY AND MERLE HAMEL TODAY WE LEARNED THE OPENING OF THE NEW DES MOINES BUCCANEERS ARENA HAS BEEN PUSHED BACK FROM LATE 2023 TO EARLY 2025 ONLY ON KCCI. LAURA TERRELL IS LIVE AT MERLE HAY MALL TO TELL US WHAT’S CAUSING THIS DELAY. LAURA. YES, STACEY, THE CEO OF MERLE HAMEL BLAMES RISING INTEREST RATES. THAT’S WHY EVERYTHING STILL LOOKS THE SAME HERE. YOU CAN SEE YONKERS STILL ON THE BUILDING HERE RIGHT NEXT TO THE DES MOINES BUCK JUNIOR SIGN, AS IT HAS BEEN FOR QUITE A WHILE. THE PROJECT GOT SOME FINANCIAL HELP FROM THE STATE, BUT SHE SAYS THAT MONEY DOES NOT GO FAR ENOUGH ANYMORE. KCCI WAS HERE ONE YEAR AGO TOMORROW WHEN LEADERS HELD A CEREMONIAL GROUNDBREAKING OUTSIDE THE OLD YONKERS STORE. THAT’S WHERE 3500 SEAT ARENA IS SUPPOSED TO GO. MALL CEO LIZ HOLLAND SAYS CONSTRUCTION HAS NOT EVEN STARTED YET BECAUSE OF THE FUNDING PROBLEM, BUT SHE HOPES TO HAVE THAT CLEARED UP SOON SO CONSTRUCTION CAN BEGIN LATER THIS SUMMER. HOLLAND SAYS WHILE IT LOOKS LIKE NOTHING IS GOING ON, THERE’S BEEN A LOT GOING ON BEHIND THE SCENES, A LOT OF WORK THERE TO KEEP THE ARENA ON TRACK. I THINK IF YOU ONLY FOCUS ON THE CONSTRUCTION OF THE ARENA, THAT WAS REALLY WELL, THAT’S THE JEWEL IN THE CROWN. DON’T GET ME WRONG, A LOT HAS HAPPENED TO ENABLE THAT TO NOW COME TO FRUITION. AND THE STATE HELPED MAKE THIS PROJECT HAPPEN BY ALLOWING MORE THAN $26 MILLION IN TAX REVENUE GENERATED HERE TO BE USED FOR TO PAY OFF BONDS THAT FINANCE THE ARENA. NOW, WE ASKED TODAY IF THAT MONEY IS IN JEOPARDY SINCE THE PROJECT’S DELAYED THE IOWA ECONOMIC DEVELOPMENT AUTHORITY SAYS THAT AS LONG AS THE PROJECT IS PROGRESSING IN GOOD FAITH, THE MONEY SHOULD BE SAFE. A HOTEL PRACTICE SPACE AND RENOVATIONS TO THE MALL ARE ALL PART OF THE DEAL. THEY’RE PLANNED SOMEWHERE DOWN THE ROAD, SO WE’LL KEEP YOU UPDATED ON THAT. FOR NOW, REPORTING LIVE OUTSIDE

Hockey fans will have to wait a little longer to watch a game at Merle Hay Mall.KCCI has confirmed that no construction has actually occurred on the new Des Moines Buccaneers arena, since a ceremonial groundbreaking on May 18, 2022.The arena, planned for the former Younkers space, is now set to open by February 2025, mall CEO Liz Holland said. Developers originally hoped to open the 3,500-seat facility in time for the Buccaneers' 2023 season.Holland blamed rising interest rates over the past year for the delay.The state awarded the project millions of dollars in tax incentives last year. Up to $26.5 million in tax revenue generated at the site will help pay off bonds that are funding the project.Holland said the tax incentives no longer go far enough to cover project costs. A spokesperson for the Iowa Economic Development Authority told KCCI the tax incentives are still available for the project, despite the delay.Holland said she hopes the financial issue can be resolved soon, so construction can begin by late summer."There are lots of people highly focused on making sure it's the right project at the right time at the right price, and all of the pieces have to come together," Holland said.The arena itself will cost around $40 million. Developers eventually hope to also build a hotel and practice facility, and renovate the mall.The project is Merle Hay Mall's latest effort at reinventing itself. Like many shopping centers, Merle Hay has lost many of its retailers and is turning to unconventional ideas to attract business.The Buccaneers told KCCI the team continues to work with the mall through the financial and construction components of the project.The Buccaneers first announced plans to move to Merle Hay Mall in November 2020. It will vacate its longtime home on Hickman Road in Urbandale. That area was damaged in the August 2020 derecho.

DES MOINES, Iowa —

Hockey fans will have to wait a little longer to watch a game at Merle Hay Mall.

KCCI has confirmed that no construction has actually occurred on the new Des Moines Buccaneers arena, since a ceremonial groundbreaking on May 18, 2022.

The arena, planned for the former Younkers space, is now set to open by February 2025, mall CEO Liz Holland said. Developers originally hoped to open the 3,500-seat facility in time for the Buccaneers' 2023 season.

Holland blamed rising interest rates over the past year for the delay.

The state awarded the project millions of dollars in tax incentives last year. Up to $26.5 million in tax revenue generated at the site will help pay off bonds that are funding the project.

Holland said the tax incentives no longer go far enough to cover project costs. A spokesperson for the Iowa Economic Development Authority told KCCI the tax incentives are still available for the project, despite the delay.

Holland said she hopes the financial issue can be resolved soon, so construction can begin by late summer.

"There are lots of people highly focused on making sure it's the right project at the right time at the right price, and all of the pieces have to come together," Holland said.

The arena itself will cost around $40 million. Developers eventually hope to also build a hotel and practice facility, and renovate the mall.

The project is Merle Hay Mall's latest effort at reinventing itself. Like many shopping centers, Merle Hay has lost many of its retailers and is turning to unconventional ideas to attract business.

The Buccaneers told KCCI the team continues to work with the mall through the financial and construction components of the project.

The Buccaneers first announced plans to move to Merle Hay Mall in November 2020. It will vacate its longtime home on Hickman Road in Urbandale. That area was damaged in the August 2020 derecho.

Hockey arena delayed at Merle Hay Mall

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