Construction firms Skanska USA and Cincinnati-based Megen Construction have signed a $70M contract with the Univ. of Cincinnati to renovate Fifth Third Arena. Skanska has a 70% share of the contract, worth about $50M. Renovations to the 26-year-old facility include the creation of a 360-degree seating bowl with space for 11,500 spectators. It includes new concessions and restrooms, an upper-level concourse with fan amenities, expanded food and beverage options, a new Bearcats lounge and super suites. A new main entrance and plaza with ticketing and guest services are also included. Construction is scheduled to begin in June '16 and is slated for completion in November '18 (Skanska). In Cincinnati, Erin Caproni notes the changes will "reduce the total number of seats from 13,176, but it's expected to improve sight lines and add more suites and high-priced seating options." The arena "has just 16 private suites now." Fifth Third Arena is "home to the UC men's and women's basketball teams as well as its women's volleyball team." A temporary home for those sports will "be found while construction is underway" (BIZJOURNALS.com, 5/16).
