Gensler
Reno, Nevada
Ongoing Real Estate & Development Advisory
A proposed Reno Arena Project with additional assets brought Hunden Partners on board by the City of Reno, Nevada, Redevelopment Agency to provide advisory services and an independent review. Hunden’s phased analyses, projections, and development negotiations and advisory culminated in a ceremony to celebrate reaching the end of Phase I. Hunden continues to advise the client on matters of importance to the project’s future.
Situation
Hunden was retained by the City of Reno, Nevada, Redevelopment Agency (Agency or Client) to provide advisory services and an independent review of a development proposal by a private developer for a new sports and entertainment district, called the Reno Arena Project (Project or District).
The Reno Arena Project was conceptualized to include a 10,000-seat arena, an ice hockey rink, an 800-room hotel, a new parking structure, 300 units of workforce housing, and a renovated waterfront golf driving range (Topgolf).
Approach
Hunden conducted a three-phase combination of analyses, projections, and development negotiations and advisory services.
Phase I. The developer applied for one of the City’s redevelopment programs that would provide tax-increment financing incentives. Hunden’s study determined the market demand for the proposed facilities and district uses, as well as additional use types that were not included in the developer’s proposal but may be needed for the Project to be financially sustainable and to generate sufficient new tax revenues to support the Project’s financing.
Phase II. Hunden is assisting the City and Agency with placemaking advisory services and virtual learning sessions related to funding implementation and financing incentives.
Phase III. Hunden will also assist the City and Agency with deal-negotiation advisory services related to the proposed indoor arena–anchored sports and entertainment district at the existing Grand Sierra Resort. Hunden will provide advice and consultation to the Client during negotiations on a Term Sheet, followed by a definitive Development Agreement.
Impact
The Grand Sierra Resort hosted a ceremonial groundbreaking for the $435-million arena facility in October 2025, which represents the first phase of the property’s $1-billion redevelopment project.
