The team said the arena would be funded by private investors, but would seek city sales tax revenues to help pay for $200 million in additional costs, including infrastructure work.
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Baylor University's women's basketball team will no longer be known as the Lady Bears.
Early ticket sales start on Thursday.
Arizona State University received the green light to start building a new multi-purpose arena on the Tempe campus' northeast side.
The Gila River Arena has been named as a voting center for the upcoming 2020 elections.
71-year-old Larry Naman was responsible for shooting a former Maricopa County Supervisor back in 1997.
The Phoenix City Council meeting on renovations to Talking Stick Resort Arena took a strange turn Wednesday when a man convicted of a politically motivated shooting addressed council members, all while his victim was in the audience.
With a 6-2 vote in favor, the Phoenix City Council approved a $230 million renovation plan on Wednesday for the Talking Stick Resort Arena.
After five public meetings, the Phoenix City Council will meet Wednesday as they are expected to vote on the massive renovations to Talking Stick Resort Arena.