Reno's Grand Sierra Resort breaks ground on $1 billion arena project

The Grand Sierra Resort (GSR) in Reno will break ground Tuesday, Sept. 30, on its $1 billion arena project, four months after securing a controversial tax increment financing (TIF) deal, the Reno Gazette Journal reported.

The ceremony, to be held at the resort’s northwest parking lot, will include “a first look at what’s to come,” according to GSR. The event is not open to the public.

The arena will seat 10,000, include a community ice rink, food and beverage areas, and a 2,400-space parking garage. Construction will proceed in phases, with the first phase estimated at $189 million of the $786 million total.

The groundbreaking follows the Reno Redevelopment Agency's approval in May of GSR's request for tax increment financing to help fund the project. Under the agreement, GSR will be reimbursed 90% of its property taxes during the TIF period, while the redevelopment agency retains 10%. The deal extends through 2035.

GSR owner Alex Meruelo also pledged to transfer the lease for Fire Station 21 to the city and dedicate an additional 5% of the reimbursed property taxes to youth sports facilities. Overall, GSR is projected to receive $61.3 million, while the redevelopment agency retains roughly $6.8 million through 2035.

The TIF arrangement has drawn criticism from some sectors. “I’m just wondering why the city of Reno should use our public funds for a private business?” Council Member Meghan Ebert asked in May. “I’m just not exactly sure why this particular investment should make sense to us, knowing that our downtown is in the shape that it is.”

The arena will host live events and serve as the home court for the Nevada Wolf Pack men’s basketball team. Brian Sandoval, President of the University of Nevada, Reno, said the arena is essential for competitiveness and revenue generation.

The GSR Arena is expected to open in late summer 2027, with basketball games starting that fall.