Next DoorWednesday, November 4
Rancho Cordova approves the money for its $1.2 billion arena district
The Daily Folsom team
If you've watched Rancho Cordova's downtown dreams from Folsom, here's the big step. The City Council voted 4-1 Monday to approve the financial agreement for the Downtown DOVA project. The city estimates the deal could amount to $185 million over 35 years, including shared hotel, sales and card room tax revenue. Most of the incentives would only kick in after the project is built.
The anchor is a 7,500-seat arena, part of a 28-acre development near Kilgore Road and Trade Center Drive. "This amazing complex is such a blessing," Mayor Garrett Gatewood said after the vote.
The planned arena would cover 194,110 square feet
Floor area of the planned Cordova Arena, beside places you know
3 football fields would fit inside the planned Cordova Arena
Source: Folsom Times
View as table
| Floor area | |
|---|---|
| The planned Cordova Arena | 194,110 sq. ft. |
| A football field | 57,600 sq. ft. (end zones included) |
| A Walmart Supercenter | about 180,000 sq. ft. |
- Arena cost: $175 million to $225 million
- Fee waivers: about $25 million to $40 million
- Full buildout: 640 to 1,000 homes, about 800 hotel rooms
- Vote: 4-1, with Councilmember Joe Little opposed
Developer Joshua Wood says a groundbreaking could come in late January or early February 2027. Construction financing and other requirements still have to be met first.
Developers target a late 2027 finish for the arena
- Oct. 26Council authorized the arena's design and the sale of city-owned property.
- Nov. 2Council voted 4-1 on the financial participation agreement.
- Early 2027Developers target a groundbreaking in late January or early February.
- Late 2027Developers target late 2027 for completing the arena.
Sources: Folsom Times, Sacramento Bee
Sources: Folsom Times, Abridged, Sacramento Bee