Could the Phoenix Suns, city build a new arena at Phoenix Convention Center site?

The Phoenix Suns play in one of the oldest arenas in the National Basketball Association and could soon be looking at major renovations to US Airways Center or possibly a new arena altogether.

One scenario being talked about — at least in real estate and downtown Phoenix circles — is a new arena being built where the current South Building of the Phoenix Convention Center is on Jefferson and Third streets. That is the oldest convention center building and is a block away from the Suns’ current…