A major redevelopment plan has been outlined for Xcel Energy Center, home of the NHL’s Minnesota Wild.
The City of Saint Paul has announced that its “top priority” for the 2025 legislative session is to fund a major renovation for the arena complex, which also includes the Saint Paul RiverCentre and the Roy Wilkins Auditorium.
Renovations to the arena complex, which is owned by the city, are estimated to cost $769m (£594m/€711m). The city is asking the Minnesota State Government to fund half the cost, which would be around $394.6m.
Wild owner Craig Leipold would fund 30% ($215.8m), with the city and local partners to cover the remaining 20% ($158.8m). Ramsey County will continue to explore its partnership investment in the proposed arena complex renovation.
Xcel Energy Center opened in 2000, and the City of Saint Paul has said that the original intended lifespan of the facility was 25 years. The Saint Paul RiverCentre is 27 years old, while the Roy Wilkins Auditorium was built in 1932.
It is hoped that renovation work could begin as early as 2026. The project would be carried out in phases.
Mayor of Saint Paul, Melvin Carter, said: “A renovated arena complex will breathe new life into our city, building on our efforts to attract more world-class events and opportunities for economic growth. This project will create jobs, bring more people downtown, and strengthen our standing as a premier destination to live, work, recreate, and do business.”
Leipold added: “We are so excited to build on the success of the arena complex to create an iconic new district for downtown. Saint Paul is uniquely positioned to become a gleaming example nationwide of forward-thinking revitalisation. Now is the time to rewrite our future.”
According to the city, the arena complex generates over $383m in revenue and attracts over two million visitors each year. As well as Wild games, the arena complex hosts the PWHL’s Minnesota Frost, major concerts and other performances.
An economic study impact carried out by the Wild has found that a renovated arena complex could boost annual local spending by $110m, create around 2,300 union construction jobs, and, when complete, employ more than 5,000 people in Saint Paul.
In October, Leipold revealed that a new hotel would be added to redevelopment plans for Xcel Energy Center.
