Groundbreaking for the new arena at Grand Sierra Resort took place on Tuesday, September 30, 2025. The venue will become the new home for Nevada’s men’s basketball team and will also host concerts and a community ice center. This marks the first phase of GSR’s multi-billion-dollar investment, which includes future plans for a hotel tower, workforce housing, an ice rink, and a fan zone.
Martin-Harris Construction was previously chosen as the project’s general contractor. GSR owner Alex Meruelo described the firm as an ideal partner for this transformational development, while company president Guy Martin said Martin-Harris is proud to help deliver a project that will elevate sports, entertainment, and community life in Reno
Although the ceremony marks the official groundbreaking for construction, work on the site has proceeded since early summer. Following the city’s approval of tax-increment financing in May, crews initiated underground utility and sewer installations and graded the arena footprint in preparation. Vertical construction of the arena and a neighboring eight-story parking garage will follow.
The Arena
The $435 million project is designed as a 10,000-seat, cutting-edge arena. The project will be finished in no more than 20 months, with an estimated completion in late summer 2027. The University of Nevada men’s basketball team is set to play its first home games at the new arena that fall.
The arena is the signature piece in a broader $1 billion redevelopment plan revealed in late 2023 for the 140-acre resort campus. The master plan calls for a fan-zone plaza, a 45,000-square-foot community ice rink, additional retail and dining, a lakeside golf driving range and water show, an 800-room hotel tower addition, and about 300 affordable riverfront apartments.
Sports and entertainment venues across the U.S. are entering a new era of billion-dollar transformations. The Grand Sierra Resort in Reno is launching a sweeping, multi-phase redevelopment that will add a new arena, fan plaza, and other features to reimagine its entire campus as a premier entertainment destination. Meanwhile, in New York, the USTA is deep into its own $800 million overhaul of the US Open grounds, with the next phase now set to begin following the 2025 tournament.
Grand Sierra Resort Master Plan: Project Timeline & Milestones
September 2023 – The Grand Sierra Resort unveils a $1 billion master plan, highlighted by the creation of a new multi-purpose arena.
July 2024 – New plans are announced, including a new arena site, freestanding ice facility, parking garage, and fan plaza.
August 2024 – A formal application for Phase 1 of the project, including the arena and support facilities, is submitted to the city.
April 2025 – The Reno Planning Commission votes unanimously to approve the project, clearing the way for construction.
May 2025 – The City Council OKs a tax-increment financing deal to help with development costs. The milestone also comes with agreements to provide community benefits such as youth sports funding and land donations.
June 2025 – Preliminary site work begins, with grading and utility installations. Existing recreational areas are cleared to make way for construction.
July 2025 – Permits are filed for the arena and its supporting facilities. Later in the month, Martin-Harris Construction is revealed as the general contractor for phase one.
September 30, 2025 – A groundbreaking event was held for the GSR Arena, with site work already in progress.
Anticipated Completion: Summer 2027 – The arena is set to be constructed on a 20-month construction schedule, opening in time for the fall sports season that year.
Also Read Las Vegas Athletics Break Ground on $1.75B Ballpark at Former Tropicana Site
Financing Reno’s Future
Earlier this year, the Reno Redevelopment Agency voted 5-2 to approve a tax-increment financing (TIF) agreement for the arena’s first phase. TIF financing allows future increases in tax revenues to be funneled back to the developer, a model Nevada permits in designated redevelopment areas battling blight. Under this agreement, Grand Sierra Resort will receive reimbursement of 90% of its property tax over the life of the TIF. The remaining 10% retained by the redevelopment agency. As part of the deal, GSR owner Alex Meruelo agreed to hand over the lease for Fire Station 21 to the city. Additionally, it pledged an extra 5% of tax reimbursements to support youth sports facilities. Altogether, the resort expects to be reimbursed approximately $61.3 million, while the agency retains about $6.8 million until the agreement ends in 2035.
Also Read Platinum Contracting of Nevada Starts Construction on Floating Docks for Shoreline Community
A Long-Term Economic Boost
Once the TIF sunsets, the property tax revenue will be distributed among several stakeholders. Reno will receive 26%, Washoe County 38%, and the county’s schools 31%, with smaller shares allocated to Nevada. The Truckee Meadows Underground Water agency. Over the next 30 years, the arena is forecasted to generate $294M in property tax and more than $146M in sales tax. If all goes as planned, this ambitious project won’t just bring world-class entertainment to Reno, it will also deliver a lasting economic boost to the community.
Project Overview of the Grand Sierra Resort
Location: Reno, Nevada, at the Grand Sierra Resort site.
Total Estimated Cost: $1 billion.
Permit Filing Date: June 30.
Initial Phase Cost: $189 million.
Design Team: Gensler (Architect and design lead), Meruelo Group
Overall Phase One Estimate: $786 million.
GSR Arena Cost: $435 million
GSR Arena Capacity: 10,000-seat indoor arena.
Amenities: Community ice rink, food and beverage booths, 2,400-space parking garage, aqua golf driving range.
Financing Model: Tax-increment financing (TIF).
TIF Approval: Passed by the Reno Redevelopment Agency in May, with a 5-2 vote.
Tax Reimbursement: 90% of property taxes refunded to GSR through 2035; 10% retained by the agency.
Estimated Reimbursements: $61.3 million to GSR; $6.8 million retained by the agency.
