The development company previously has been involved in arena development in Seattle Belmont Park, New York Palm Desert, California Manchester, United Kingdom and at the University of Texas at Austin. “Baltimore has such a rich music and sports history, and we look forward to working with BDC and the community to elevate live entertainment in the city and make the Baltimore Arena a premier destination for the biggest artists and events in the world,” Oak View Group CEO and founder Tim Leiweke said. Oak View Group and Thirty Five Ventures also are looking at ways to invest in the surrounding community, Tarbert said. He said there could be bars and lounges inside the stadium as well as opportunities to redevelop the neighboring Hopkins Plaza. Tarbert said the arena, which currently fits 15,000 people, could be expanded to fit a slightly larger crowd, though details have not been finalized for the design yet. All three proposals complied, Tarbert said, and proposed redeveloping the arena rather than building anew. The BDC’s request for proposals only considered plans that would redevelop the arena in its current location downtown. City and state economic development leaders most recently rejected a proposal to build a new arena at the site of the city’s convention center, concluding that the undertaking would be too unrealistic and taxing. Redevelopment plans have surfaced - and faded - several times. Royal Farms Arena, which dates to 1962, is considered cramped and antiquated, and city officials have been considering options to upgrade or replace it for the past two decades. Royal Farms reportedly paid a $250,000 a year to have it's name on the building, so it doesn't come cheap.Baltimore Sun eNewspaper Home Page Close Menu Meanwhile, naming rights are still up for grabs. Rather, renovations are being funded by developers the Oak View Group (OVG), along with additional funds by an investment firm founded by NBA star Kevin Durant called Thirty-Five Ventures.Īlthough the official groundbreaking is Thursday, construction walls and equipment have been on site for several weeks. RELATED: Royal Farms Arena is one step closer to getting a whole new look The renovation project cost $150 million, although no public funds are being spent to complete it. Sports fans also can expect to see NCAA games along with the UFC (Ultimate Fighting Championship). The CIAA basketball tournament has already committed to returning to Baltimore and keeping the games here through 2025. There's also a proposal to close down Hopkins Plaza and create a new outdoor festival area.īesides all of the physical changes happening, more events also are headed to the Baltimore Arena. Moving the stage will allow for more lower-level seating and overall seating will increase from 14,000 to 16,000. While inside the arena, renderings show a sophisticated new look with plush seating, dramatic concourses and a pushed backstage. Outside the arena, renderings show a sparkling new exterior shell, big and bold LED billboards, dazzling lighting, and terraces to enjoy a warm summer evening. The future looks bright for the arena formerly known as the Royal Farms Arena, with more seating, better concessions and eventually a new name on the way for February 2023. Developers are hosting a groundbreaking ceremony Thursday afternoon to celebrate the $150 million renovation project. BALTIMORE - The 60-year-old Baltimore Arena in downtown is officially getting a facelift.
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