Sunday, November 21, 2010

Kelly Team will lead C.O.R.E Arena Proposal















As reported by the Sacramento Business Journal; Developer Larry Kelley and his senior managers at McClellan Park have partnered with restaurateur Ali Mackani to push for an arena at the site of Westfield Downtown Plaza.

The Kelley team will lead the effort to develop a downtown sports and entertainment complex with the Mackani’s C.O.R.E. Group, Kelley announced Thursday.

Kelley brings a strong management team to the C.O.R.E. Group, which now has another chance to convince Sacramento city leaders that they should consider this arena proposal. Mackani’s proposal was one of seven proposals offered to the Sacramento First Task Force nearly a year ago. The city went with a partnership of Gerry Kamilos and David Taylor, which proposed developing a downtown arena as part of a three-way land swap with Cal Expo and Arco Arena. The city’s exclusive negotiations with the Kamilos/Taylor group has expired, opening up possibilities once again for other proposals.

In a news release, Kelley said that a weakness in the previous C.O.R.E. plan was a lack of an experience development team to make the project a reality.

The C.O.R.E. Group also added to its team the law firm of Weintraub Genshlea Chediak, led by real estate attorney Mike Kvarme and attorney Matt Massari.

Sacramento Mayor Kevin Johnson decided last month to reconvene his arena task force to consider old and any new arena proposals. Kamilos and Taylor and their Sacramento Convergence LLC group hope to bring back a viable plan to the City Council in January. That group’s proposal fell apart in September when Cal Expo decided it would not participate.

6 comments:

Patrick J. said...

I loath this plan.

Zwahlen Images said...

I love it... transforming a dead mall into a destination. Is it actually feasible? Will find out soon.

Anonymous said...

Seems like a good plan. On top of getting a much-needed new arena, this should revitalize near-dead mall whose owner has no committment to reinvest and/or add a much needed second- and third-anchor tenant. Additionally, this idea would give 17,000 people a reason to stay downtown after 5 pm - and has a better location over Railyards with direct proximity to pre- and post-game retail/restaurants.

But, like everyone will ask, where's the money? Looking forward to the rest of their proposal...

Anonymous said...

1. Magoofs are BROKE
2. Sports Franchises are a very bad investment..THEY LOSE LOTS OF MONEY...except the Lakers, Yankees...
3. Arena for a sports franchise are a VERY BAD INVESTMENT for a City
4. Owners of the sports franchise NEED all the extraneous revenue provided by the arena inorder to pour the money back into the losing sports franchise, ie, the Kings
5. A smart "world class" city, ie Seattle or Portland will walk away from the sports franchise rather than provide funds for the continuation of a sports franchise..
6. Grow up and face the FACTS

Zwahlen Images said...

It’s not about the KINGS, it’s about all the major events that come to Sacramento and perform (200+ a year). The big picture is that Arco Arena is an entrainment venue and the KINGS are the largest tenant to pay the bills… with out the KINGS at Arco it would close because it would not break even to cover operating costs. If that happens, say goodbye to a majority of concerts and events that the region has now taken for granted. Prepare to either drive to Marysville or the bay area to enjoy these events that now happen at Arco. Anonymous #2, your arguments premise are false and misleading, is that the best you got?

late nite said...

Glad to see this back on the table. The land swap concept was a joke.

I'm still hopeful for the West Sac amphitheater project too for brining in more concerts etc.