Work has started on the Baltimore Arena renovation project, which will redevelop a 6-decade-old arena building into a multipurpose venue for hosting entertainment, sports and other events in the city of Baltimore, Maryland.
The groundbreaking ceremony for the US$ 200M Oak View Group developed project took place recently at the city-owned historic arena, which is situated at 201 West Baltimore Street, and was previously known as Royal Farms Arena.
Oak View Group is working in partnership with the entertainment star Pharrell Williams; Kevin Durant, co-founder of Thirty Five Ventures (35V), and the Baltimore Development Corporation (BDC) to make the Baltimore Arena renovation project into a reality.
These partners will cover the entire renovation costs and after the building is fully upgraded, it will be leased to an entity called The Baltimore Arena, for a 30-year duration.
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Expectations for the Baltimore Arena renovation project
The Baltimore Arena renovation project is expected to take about 12 months, and afterwards, the building will allow up to 14,000 visitors at full capacity. The arena’s delivery date will be around the same time as the CIAA basketball tournament, which is scheduled for February 2023.
Over the course of the 12-month renovations, up to 500 construction jobs will be created. The renovation project will cover the construction of new suites, upgrades to the concession stands, the addition of new seating, and a complete overhaul of the building’s facade. State-of-the-art technologies will also be installed to enhance the experience of the visitors such as touch-less dining options to offer self-service for food or beverages.
Baltimore’s Mayor, Brandon Scott, at the groundbreaking, praised the long-awaited Baltimore Arena renovation project, which he said upon completion, would create a multipurpose venue to bring in more events and business opportunities to the city. The mayor also spoke about how the upgraded arena would boost the city’s revenue, and hospitality industry, and create more exposure to the choice of restaurants and cultural venues available in Baltimore.
Oak View’s CEO, Tim Leiweke, said the company was proud to be a part of Mayor Scott’s vision for Baltimore. Leiweke also mentioned that this private investment made by all the partners involved will play a huge role in rejuvenating downtown Baltimore, by bringing in new life, jobs, and economic stimulus to the region.
