Think Big Sacramento released another report on the estimated impact of a new entertainment and sports complex in downtown Sacramento on Thursday, this one delving into the impacts of the new building on existing assets like vacant land and parking structures.
Here are the major takeaways.
- City-owned downtown parking is currently underused after 5 p.m., and a downtown arena would boost usage to an estimated 70 percent during Sacramento Kings games and 30-50 percent during other events (concerts, etc.). That would generate an estimated $1-5 million per year in city revenue.
- The sides of the ESC could be used as advertising stock (billboards).
- Cell phone towers could be installed on top of the ESC; a city ordnance holds that any revenue gained from cell towers on city property must be dedicated to said property, which means that money generated by cell towers atop an ESC could only go toward the ESC.
- Some $30-60 million could be gained from city property whose land value would increase as a result of building a downtown ESC.