*** Updated*** New information on arena keeps rolling in.
Update: If you would like to read the entire feasibility study yourself, you can download the PDF document here courtesy of NBA Confidential. (Jonathan Santiago)
Update #2: Post is now updated to reflect actual numbers from the feasibility study.
We have just received new and more detailed information about what will be handed down by the Taylor/ICON group tomorrow at the Sacramento City Council meeting. Here is what we are hearing tonight with a huge thanks to our friends Tom Ziller and Akis Yerocostas over at Sactown Royalty:
Luxury seating breakdown:
- 74 total luxury suites (30 total in Power Balance Pavilion).
- 20 Luxury Mini Suites.
- 50 Luxury Standard Suites.
- 4 Luxury Party Suites.
Loge and Club seating breakdown:
- 2,080 total loge, ledge and club seats (712 total in Power Balance Pavilion).
- 240 Premium Loge Seats.
- 80 Premium Ledge Seats.
- 1430 Club Seats.
- 330 Courtside Club Seats.
- Kid Zone.
- 6 Docking Bays (2 at Power Balance Pavilion).
- High Resolution HD-LED Score Board.
- 750+ Flat Screen Displays.
$387 million total cost.
- $241 million in construction cost.
- $146 million “soft cost.”
- Unknown private contribution.
- Model based on similar financing packages in Memphis, Orlando, Kansas City, San Antonio and Edmonton/Alberta.
- Arena “use tax,” multi-county rental car and hotel tax.
Projected completion date:
- May 2015, ready for the 2015-16 season.
Projected stimulus for the region:
- $556 million cash infusion to region during building.
- $25 million annual regional infusion.
- $2.3 million annual increase in municipal funds during build.
- $770,000 annual increase in municipal funds during operation.
The feasibility study shows the cost of building the Sports and Entertainment Complex in both the Downtown Rail Yard location and a new stadium in the current Natomas location. The Natomas site would be an estimated $3,370,000 less in building expenses than the Rail Yard project.
Currently, there is no plan in place for a new parking structure attached to the stadium. Increased public transit and nearly 8,000 existing parking spaces in the surrounding area, many of which are used by day time state workers, will be used to handle the traffic.
The City Council will have a 100-day window to review the plans and make comments and suggestions.
The Taylor/ICON group took on the Sacramento sports and entertainment center feasibility study pro bono in February of 2011. Over the last four months, they have continued to work on a comprehensive plan that includes not only the building cost of a new facility in Sacramento, but the financing mechanisms to make that dream a reality.