The development team working to transform Oakland's Coliseum complex into a sports and entertainment center appears to be waiting to the last minute to submit key documents that should provide more clarity as to whether the project might ever get built.
Monday is the deadline for Colony Capital and its partner, Hayah Holdings, to submit to the city a signed Letter of Interest from one of Oakland's three major league sports teams declaring its intent to join in the project.
Also due is a report describing funding sources for the initial phases of the multibillion-dollar project, a revenue analysis for new stadiums and site plans.
Oakland's point person on the project, Gregory Hunter, said Friday that the city hadn't received the documents, but that the development team had indicated it would meet the Monday deadline.
The Oakland Raiders, which are the only franchise at the Coliseum complex, that has expressed interest in Coliseum City, declined to comment Thursday when asked if it would issue the Letter of Interest. Colony Capital also declined to comment.
City officials have stressed that the project will not be easy to fund. There is already at least a $500 million shortfall on a new football stadium for the Raiders. The city is hoping that private investors would cover that gap by obtaining the rights to build homes, shops and a hotel on the publicly owned Coliseum property.
Last month, the development team released reports concluding that there would be sufficient demand for premium seating that could be used to help finance a Raiders stadium. A previous study by a different consultant found demand lacking and recommended that the Raiders build what would be the NFL's smallest stadium.
The development team's report also estimated that full build-out of Coliseum City, including development on both sides of Interstate 880, would cost about $340 million in infrastructure improvements. That would include about $24 million to expand the BART station $14 million for drainage improvements. Infrastructure costs for just a new NFL stadium were estimated at $55 million.