The Grand Sierra Resort (GSR) (US) broke ground recently on its new 10,000-seat arena, the first phase of the property’s $1 billion redevelopment project – the largest private capital investment in Reno’s history.
‘PR Newswire’ quoted Alex Meruelo, Owner of Grand Sierra Resort, as stating, “The above project represents a transformative moment for Reno and Northern Nevada. Our investment reflects not only our commitment to this community but our belief in its future as a premier destination for sports, entertainment and hospitality.”
The Grand Sierra Resort (GSR) in Reno-Tahoe (Nevada, US) features nearly 2,000 rooms, 200,000 square feet of meeting space, extensive gaming, acclaimed entertainment, nightlife, and diverse dining.
‘PR Newswire’ further stated that the $435 million GSR Arena will span 300,000 square feet, feature premium hospitality clubs, the suites and a fan-focused Central Plaza and serve as the future home of the Nevada Men’s Basketball. Designed to seat up to 10,000 guests it is expected to host about 95 events annually upon completion in Fall 2027.
Added Brian Sandoval, University of Nevada President, “This groundbreaking signals a new era for Northern Nevada and our University. When completed, the Grand Sierra Resort Arena will become our region’s most compelling entertainment and sports venue while providing the Wolf Pack Athletics with a dazzling home court that will be second to none.”
Beyond athletics, the project is expected to deliver sweeping economic benefits. According to Hunden Partners (the leading Advisor in destination real estate development), which conducted the City of Reno’s financial analysis, the arena and related development are projected to generate $850 million to $1.135 billion in direct economic impact with as much as $1.34 to $1.8 billion in benefits over 28 years.
Averred Hillary Schieve, Reno Mayor, “This arena represents the kind of investment that propels Reno forward. It will serve as a source of civic pride and a catalyst for our City’s continued growth.”
The arena is the first step in GSR’s decade-long redevelopment plan which also includes a 2,800-space parking garage, a new community ice center, the reimagined Grand Bay aquatic golf facility, a fan-centric Central Plaza, and future housing and hotel expansion.
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.