A lack of enthusiasm from potential lessees and the rising cost is threatening the proposed Coliseum City development that could house a new Oakland Athletics ballpark.
City officials, along with Colony Capital, have proposed using the current 132-acre Coliseum/Oracle Arena site as well as surrounding land for a large development that would include retail, housing and office space; proceeds from this development would help pay for a new Athletics ballpark and a new Oakland Raiders (NFL) stadium. Also potentially part of the mix: a replacement arena for the Golden State Warriors (NBA).
But none of the potential sports tenants have shown much enthusiasm for the project. It is unrealistic to assume the Warriors would be part of any development: team ownership has been working on a San Francisco arena plan for years, first on the waterfront and now in the Mission Bay area. Oakland Athletics ownership in the form of Lew Wolff has spoken out against the proposed development.
And now the Oakland Raiders, who showed some interest in a new stadium at the site, missed a deadline for submitting a Letter of Interest for the development. That’s not a deal-killer (the deadline was soft and the team could submit one at any time), but the lack of effort into accomplishing one relatively minor deadline certainly cloud the waters. Public officials see the move as bad news: “I’m very concerned about it,” said Councilman Larry Reid, who sits on the board that manages the Coliseum complex. “The question is where do we go from here.” For the A’s, the plan seems simple: wait until there’s a final legal decision on a San Jose move and stay at O.Co Coliseum until that happens.
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