They probably will have to build something. Their current options are that dump Oceanside that seats like 100 people or sharing facilities with the Suns downtown. If I was a hockey loving, party-centric ASU student, I'd much rather have a rink on campus.
One thought that had bounced around is since the ASU football has a air conditioned blowup practice dome (and so do the Cardinals) a practice dome could be put on campus to facilitate a "On Campus" practice facility