Arena Talk in Albuquerque

Albuquerque officials are continuing talks that could result in a new and long-anticipated arena downtown near the convention center. Garfield Traub Development has proposed a 12,000- to 16,000-seat arena that could be home to two minor league sports teams. Later phases could include a 400-room hotel, a residential area, and restaurant and retail space. No financial details have been revealed, but on its Web site the Dallas-based developer said and investment banker partners RBC Capital Markets and Piper Jaffray & Co. have “proposed an innovative, multi-tiered financing plan that includes a substantial private capital and debt commitment.” Garfield Traub said the plan limits the public support to the city’s current taxing authority and would not require additional legislative or voter approval. An attempt to build a downtown arena in 2005 failed when a development team gave up on a privately financed project.