New arena means exciting future for Sacramento
March 27, 2012 by Sarah
The idea of a new arena being built in the downtown rail yards of Sacramento has created a fervor amongst business owners in the area. Mayor, Kevin Johnson, and supporters of the construction plan secured a major victory when the City Council voted 7-2 in favor of a plan to help finance the estimated $391 million cost of the arena.
Based on the terms of the agreement, the city will provide $255.5 million of the total cost; the funds will be generated through the establishment of a parking authority. Contracts are expected to be signed in April. According to Johnson, the sports and entertainment complex will add 4,000 jobs.
Dean Ingier, manager of the Best Western hotel near the proposed site confirmed how badly the area needed the development. He continued that the entire are has been in a state of depression for some time, but within hours of the deal being announced, Ingier was receiving phone calls from construction workers seeking to book hotel roooms.
Restaurants will also benefit. The Best Western’s neighbor is a Mexican restaurant called El Coyote Junction. Owner, Elivira Valencia owns the business and has been struggling since opening up seven years ago, he told local news that he is looking forward to the new development and is to serving the tourists and residents attracted to the area and the new arena.