The City of Sacramento took another step forward on the plan for a new multi-million dollar arena for the Sacramento Kings. Last Tuesday, in a 7-2 vote, the city council passed a resolution of necessity approving the use of eminent domain to acquire a former Macy’s store property, which comprises more than half of the property needed for the $448 million dollar project. Wasting no time at all, the City’s legal counsel filed the eminent domain action just two days later, and plans to file a motion to gain prejudgment possession of the property to keep the city’s construction timeline on track.
City documents show that the city is working with an investor group to develop the area around the proposed arena as well, which could include a 250 room hotel, a 600 unit apartment building, 475,000 square feet of office space and 300,000 square feet of retail space. Supporters of the arena and entertainment space are eagerly awaiting the estimated 4,000 jobs the project could bring. The city is aiming to have construction completed by 2017, a deadline set by the NBA in order to keep the Kings from moving to Seattle.