Golden 1 Center Impact Continues to Fuel Downtown Momentum
Golden 1 Center is rapidly changing the landscape of downtown Sacramento, spurring unprecedented change and injecting new life in the surrounding area. Since the arena broke ground in 2014, projects in Downtown, Midtown and West Sacramento totaling nearly $4 billion have grown the region’s urban core and continue to fuel its economy and quality of life. As the arena celebrates its fourth anniversary, Downtown Sacramento Partnership provides a snapshot of the economic activity and impact of the arena.
Golden 1 Center is one of a number of factors contributing to the increasing growth, vibrancy and opportunity of downtown. Last year, it welcomed over 1.7 million guests to more than 150 ticketed events earning Pollstar’s #9 spot in the United States and #18 worldwide for ticket sales.
Golden 1 Center has been the center of downtown’s revitalization with 61 properties and nearly 8 million square feet of space changing hands in the past 5 years. In the last year:
• Property sales have grown by 13 percent with 13 properties totaling $450 million sold.
• With over 1.5 million square feet of office space changing hands, office vacancy rates continued to fall to a five-year low at 7.2 percent.
• New business openings increased by 14 percent with 42 new ground-floor retail businesses opening, 13 within DOCO (Downtown Commons).
• 494 new residential units were completed and another 1,892 are currently under construction.
• There are a total of 24 new commercial and residential development projects currently under construction – a 38 percent increase from this time last year – and another 76 projects proposed.
See the full report: Golden 1 Center Snapshot