What do you think should happen to the site where the hedge-fund millionaire wants to build an arena and entertainment district? Please vote and comment.

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It’s understandable that Mayor Ed Murray is sticking with hedge-fund mogul Chris Hansen’s hopes to build an arena in Sodo, for now at least, even though a New Mexico group wants to explore renovating Key Arena. The city has a legally binding agreement with Hansen until 2017.

Beyond that, Seattle faces a momentous decision. A Sodo arena would be convenient to transit and more in the heart of the city — if the NBA or NHL ever decide to come here. It’s a decent deal for the city as these things go and it had momentum before the Sacramento Kings relocation fell through and Hansen violated campaign finance laws.

One downside is that many people are sick of corporate welfare for wealthy team owners in the form of new arenas — and the fish is never off the hook. Yesterday’s state-of-the-art venue will soon be deemed obsolete and new demands will come.

Another is that a Sodo arena risks hurting the Port of Seattle and killing the most underused industrial site on the West Coast. Sodo and the port support thousands of middle-class jobs at a time when such positions are becoming scarce. They diversify the economy. With some work, Sodo could meet its potential for maritime and logistics. But that probably won’t happen with an arena and other Hansen developments there.

What do you think?

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