The Grand Sierra Resort in Reno, Nev., has announced what will be the largest private capital investment in the city’s history. Plans are underway to infuse approximately $1 billion into the existing 140-acre property over the next decade.
The centerpiece of the project is an arena—designed to host events like concerts, special events, basketball games and other sports—with a capacity of more than 10,000 seats. The arena will span approximately 300,000 square feet and have suites and premium hospitality clubs.
GSR Owner Alex Meruelo and University of Nevada, Reno President Brian Sandoval also announced the exploration of a partnership with the Nevada men's basketball team, which could make the arena their home upon completion of construction.
"The vision is to transform GSR into a destination where community, sports and entertainment come together," Meruelo said in a statement.
"The University of Nevada, Reno, is excited to explore the opportunity to partner with Alex Meruelo and Grand Sierra Resort as they develop a state-of-the-art arena and entertainment district that is unprecedented in Northern Nevada," said Sandoval. "The new arena will include amenities that create a fan and game experience that are second to none."
In response to the anticipated surge in demand, plans are also in place for an 800-room hotel tower. Expanding beyond the arena, the plans encompass a beautification of Grand Bay. This will include the creation of an active golf facility and entertainment destination, a walking path and a water show.
Recognizing the need to support the growing workforce essential to the success of these projects, the initiative will include the creation and construction of approximately 300 affordable riverfront residential units.