KEY POINTS
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Grand Sierra Resort filed a $189M permit for the first phase of its planned $1B arena project, including a 10,000-seat venue, parking garage, and community amenities.
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The Reno redevelopment agency approved a TIF deal, reimbursing GSR 90% of property taxes through 2035, estimated at $61.3M, to help fund construction in a designated redevelopment zone.
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The application has entered the engineering and health review stages. The approval of these reviews will be pivotal in determining the project’s timeline and its ability to move into full-scale development.
Construction Takes Step Forward as City Accepts Key Documents
A $1 billion arena development at the Grand Sierra Resort in Reno, Nevada, has taken a step toward construction, following the city’s acceptance of a commercial construction permit on Monday, June 30.
The new permit, filed by Grand Sierra Resort (GSR), includes more than 20 construction documents, including architectural plans, engineering reports, and site proposals, the Reno Gazette-Journal reported.
The permit outlines an estimated initial construction cost of $189 million, covering a portion of Phase One of the larger arena project. According to submitted plans, the arena will feature a 10,000-seat capacity and be enhanced with site improvements such as a community ice rink and food and beverage booths.
Multi-Phase, Multi-Type-of-Structure Project
The first phase of the arena project, anticipated to cost $786 million overall, will also include the construction of a 2,400-space parking garage and a unique golf driving range. These additions are part of a multi-phase effort to transform GSR into a premier entertainment and sports hub in Nevada, including building hundreds of hotel rooms and affordable housing on 140 acres.
In May, Reno’s redevelopment agency approved a tax-increment financing (TIF) agreement in a 5-2 vote to support the arena project. According to the City of Reno, TIF allows future increases in property tax revenue (generated from rising property values) to be redirected to help fund developments in designated “blighted or underutilized” areas.
An architectural rendering of the GSR Arena in Reno, Nevada. In collaboration with the Meruelo Group, Grand Sierra Resort, and the University of Nevada, Gensler developed a transformative master plan to revitalize 140 acres into a premier sports and entertainment destination. Image: Gensler, Grand Sierra Resort
Collaboration Shapes Reno’s Grand Sierra Arena Project
Gensler, in collaboration with the Meruelo Group, Grand Sierra Resort, and the University of Nevada, developed a master plan to revitalize 140 acres into a premier sports and entertainment destination.
Gensler’s challenge was to create a vibrant, year-round sports and entertainment district that revitalizes underused urban space and spurs community connections. The architectural firm said that as demand for shared, in-person experiences grows, venues must go beyond event-day appeal and cultivate engaging environments that encourage people to gather, celebrate, and create lasting memories.
Demand for arenas can be seen in ConstructConnect’s Summer 2025 Construction Starts Forecast. The Sports Arenas and Convention Centers subcategory is projected to grow by 8.9% in 2025, followed by increases of 10.1% in 2026, 10.7% in 2027, 11.1% in 2028, and 11.4% in 2029, as reported by Michael Guckes, Chief Economist at ConstructConnect.
According to the Reno arena developers, the Grand Sierra Resort Arena project was envisioned as a destination for major events and a catalyst for restoring vibrancy to the area.
Next Steps for Reno’s Largest Private Construction Investment
The permit filing marks the beginning of what has been billed as Reno’s largest private construction investment by developers. The city of Reno said that the application has entered the engineering and health review stages. The approval of these reviews will be pivotal in determining the project’s timeline and its ability to move into full-scale development.
Grand Sierra Resort (GSR), located in Reno, Nevada, is a casino-resort featuring nearly 2,000 rooms, convention space, gaming options, entertainment, dining experiences, and recreational amenities including a year-round pool, ice rink, cinema, and bowling center.
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