Seattle NBA arena investor to pay for transportation study

One of the concerns about building a new arena in Seattle is the added traffic and parking needs that would come with it.

The Mariners, for one, have questioned building an arena south of Safeco Field, citing transportation issues. And officials have said they're sensitive to the infrastructure needs of the port, the industries and the sports teams that call Seattle's Sodo neighborhood home.

Chris Hansen, the San Francisco investor who wants to bring the NBA and NHL to his hometown of Seattle, evidently also is sensitive to these concerns. On Thursday, he announced that he will pay for a study into the transportation and parking needs of the new multipurpose arena.

"I'm a Mariners fan, I'm a Sounders fan, I'm a Seahawks fan and hopefully a Sonics fan in the not-too-distant future," Hansen said at a news conference Thursday at Seattle's King Street transit station. "So we're going to work hard to address the traffic concerns. There are some valid concerns down here; we're going to do our best to understand them."

Here's the situation. Hansen's timeframe for the project is four to five years. So when you sit down and list out all the transportation that will, by 2016, convene in Sodo, it's a staggering revelation.

The Link Light Rail, already present, will connect to Captiol Hill and the University of Washington by then.

Sound Transit's new First Hill streetcar will run from the International District up Boren Avenue and Broadway.

Three RapidRide, 21 Metro and nine Sound Transit express bus routes now converge in the area, King County Executive Dow Constantine said at the news conference.

The Sounder train line brings in commuters from the greater region, and King Street Station is Seattle's main Amtrak hub.

Two ferry routes dump cars into the stadium district, and several passenger ferries shuttle pedestrians downtown.

There's the interchange of Interstate 5 and Interstate 90, the latter of which ends at and empties into Sodo.

And, by then, the deep-bore tunnel should be completed for state Route 99.

"Look around," Constantine said. "Consider all that, and I think you'll agree this area is easily the single largest transportation hub in the Pacific Northwest. ...

"There's another important consideration to take into account: the movement of goods and services through our port. That is the foundation of our maritime and our industrial economy. Freight mobility has to be as much of a priority as the movement of people."

It's a big challenge. But Hansen wants to get it done and get it done quickly.

He is willing to put up $10 million in pre-development costs, including the transportation study. And he wants the study finished six to eight weeks from now.

The arena proposal cleared its first big hurdle on Wednesday, when the city's Arena Review Panel found Hansen's agreement with the city and county favorable, saying the process shoud move forward. While the panel said some questions remain, the panel said Hansen is sincere in his willingness to limit financial risks to local taxpayers.

Under the plan, Hansen and his investment group would put up $500 million for contructing a new arena and purchasing an NBA franchise to move to Seattle. He wants a partner to acquire an NHL team. The city and county, meanwhile, would front $200 million in public funds for arena construction -- a fixed amount -- to be paid back mainly by revenue generated by the completed facility, including business taxes and team rent.

While there are many safeguards in place to limit the public's financial risk, taxpayers could be on the hook in the unlikely scenario that Seattle's future teams went bankrupt. The Arena Review Panel, however, said Hansen's proposal is unprecendented and could a great model for other cities.

"Mr. Hansen has offered a fair deal to the city of Seattle," Mayor Mike McGinn said at Thursday's announcement. "That's a pretty high bar that you've set here. We still have a long way to go, but the Arena Review Panel report is a big step in bringing the Sonics back to their rightful home in Seattle."

Nick Eaton can be reached at 206-448-8125 or nickeaton@seattlepi.com. Follow him on Twitter at twitter.com/njeaton. Visit seattlepi.com's home page for more Seattle news.