California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
183-Acre Innovation Park to Rise on Former Sacramento Kings Arena Site
Argent Development has acquired the former Sacramento Kings basketball arena complex in northwest Sacramento with plans to transform the 183-acre site into a mixed-use community. Terms of the sale were not disclosed.
Known as Innovation Park, the new community will occupy the site in Sacramento’s Natomas district that included the Sleep Train Arena (formerly ARCO Arena) from 1988 until 2016, when the Kings moved to Golden 1 Center in downtown Sacramento. The old arena was demolished in 2022 to make way for redevelopment.
Residential units will range from single-family detached homes and townhomes to condominiums and apartments, with at least 10% of units designated as affordable housing. Along with residential development, plans for Innovation Park include a medical campus with a teaching hospital to be run by California Northstate University School of Medicine, K-8 public school, retail/commercial space, nearly 25 acres of parkland and other infrastructure/public facilities.
- ◦Development
