The NBA Kings on Thursday said that the mixed-use tower and other developments they "plan to build next to their new downtown arena will cost" roughly $250M. In Sacramento, Dale Kasler reports the price tag "includes new retail space to be built adjacent to the arena." Kings President Chris Granger "disclosed the estimated cost shortly before the Kings and their development partner," S.F.-based JMA Ventures, "went before the city Planning and Design Commission to discuss their plans." The Kings also "released a new drawing of the proposed tower." Ancillary development "was seen as key" to the City Council’s May decision to approve a $255M public subsidy for the arena. Along with the arena itself, the "overhaul of struggling Downtown Plaza has helped rejuvenate the real estate market in the central city" (SACRAMENTO BEE, 12/12).
JUST EXPAND IT: In Portland, Allan Brettman reports Washington County approved Nike's World HQ expansion plan "with limited conditions." The development "calls for the addition of 1.349 million square feet of office space and two parking structures with a net total of 2,000 parking spaces." The limited approval "calls for several roadway improvements around the campus to be completed by Nike within four years." It also "calls for the company to obtain a variety of permits" (Portland OREGONIAN, 12/12).
HIGH REVENUE GOALS: In St. Louis, Robert Kelly notes the local Belleville High School District No. 201 "is unveiling two new combined football and soccer fields this year, thanks in part to a creative way of financing -- weaving advertising logos into the fields’ sidelines." St. Louis-based-based Byrne & Jones Sports "will complete" the $1.4M synthetic turf fields project soon. More than a third of that cost "is being funded by on-field ads, and none of the funding comes from property taxes" (ST. LOUIS POST-DISPATCH, 12/12).
