Grand Sierra Resort Arena Project Gets Green Light, Set for 2027 Opening
The Grand Sierra Resort (GSR) received an essential approval for tax-increment financing (TIF) from the Reno Redevelopment Agency Board, allowing plans for a groundbreaking on its new $435 million arena. This facility, designed to host 10,000 fans, will prioritize Nevada men’s basketball and is touted as "transformational" for the region. The board’s 5-2 vote came after extensive public support during a five-hour meeting, where 50 out of 51 speakers expressed their backing for the project.
Renowned figures like Mountain West commissioner Gloria Nevarez and Nevada basketball coach Steve Alford endorsed the proposal, highlighting the potential economic and community benefits. Alford praised GSR owner Alex Meruelo, stating that this endeavor could revive Reno and elevate the local athletic landscape. Although there was vocal support, attorney Josh Hicks opposed the financing, asserting the unprecedented nature of TIF funding for a private arena.
The agreed financing structure allows GSR to retain 90% of increased property taxes from the project until 2035, estimated at $61.3 million. Meruelo committed to investing 5% of the TIF abatement into local youth sports initiatives. Phase one of the redevelopment plan also includes a new ice rink and parking garage alongside the arena.
Expected to host 95 events annually, including concerts and a potential minor-league hockey franchise, the GSR arena aims to redefine community engagement through sports. Key university figures, such as athletic director Stephanie Rempe, emphasized the facility’s role in establishing Reno as a vibrant college town. With construction projected to commence next month and completion set for summer 2027, the community, led by GSR, is optimistic about this pivotal development for both local athletics and economy.
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