NBA, Cal Expo Set to Unveil Kings Arena Proposal
As the Kings struggle both on and off the court, Cal Expo and the NBA will unveil their long-awaited plan for a massive mixed-use development. It’s expected to include high-density housing, retail and the renovation of Cal Expo’s state fairgrounds.
Thursday, February 26, 2009
Tomorrow’s the big day in the quest for a new arena for the Sacramento Kings.
The Cal Expo board and the NBA will unveil their proposed mixed-use development project for the state fairgrounds at 1pm.
Besides the new arena, it’s expected to include retail, high-density housing and fairground renovations.
Details are scarce ahead of the meeting. But in an information packet handed out to community members earlier this week, the NBA and Cal Expo both acknowledge the project faces many challenges and may not succeed.
The NBA also says it’s done a financial analysis that shows the project is feasible. But with the economy and real estate market still in a weak state, it’s unclear if any developers will be interested.
No vote is expected tomorrow. Instead, Cal Expo staff plan to ask the board whether to move forward at a separate meeting in a week and a half.