Saturday, February 28, 2009

Cal Expo Arena Plan

This is clearly one of the most important economic discussions to take place in our area since the Sacramento Kings came to town (disclosure: my cousin Gregg Lukenbill played a major role in that wonderful addition to Sacramento); and will become a tremendous stimulus to local economic development.

The Parkway is a huge part of this as the residential part of the development can open up that area of the Parkway to a much higher use by the public, and in the process create a highly desirable community in which to live, which will also help restrain the current rather destructive consequences of the homeless camping in the area.

An excerpt from the Bee story.

“National Basketball Association officials laid out a sparkling vision for Cal Expo on Friday with artists' drawings of an imposing basketball arena, fairground Ferris wheels and scores of town houses, shops and restaurants on teeming, pedestrian-packed streets.

“The vision, however, is still way short on details on how to make the multibillion-dollar project pencil out, and who would pay what share, they admitted.

“The presentation, nearly two years in the making, was good enough, however, to win a thumbs up from the Sacramento Kings, who are desperate for an arena that can make more money.

“It also won a quick go-ahead from Cal Expo officials eager to reinvent their faded fairgrounds. "This project far exceeds our wildest expectations of how Cal Expo could be," Cal Expo board member Rex Hime said.

“The Cal Expo board authorized its staff Friday to begin a national search for a developer to partner with Cal Expo and the NBA on what would be a massive, 25-year building project, starting with an arena and modern fairgrounds at the eastern edge of the property, where the racetrack now stands.”