The National Basketball Association announced Thursday it is backing a dramatic land-swap proposal that would move the State Fair to the Arco Arena site in Natomas and build a new arena and entertainment complex next to the downtown train depot. The intricate proposal – involving three prime pieces of Sacramento real estate – was unveiled Thursday night by a team of local developers, with international financiers and NBA executives at their side.
The concept, offered by Gerry Kamilos, a suburban Sacramento land developer, is the most spectacular of seven arena concepts submitted in response to a request from Sacramento Mayor Kevin Johnson. Saying 22-year-old Arco Arena is outdated and warning that the Kings may jump town, Johnson issued a call in November for developer proposals for a new sports and entertainment facility.
Details of the seven submissions were offered at a City Hall forum Thursday night. But the real action happened later a few blocks away at the Citizen Hotel, where Kamilos and NBA officials unveiled details of an ambitious land-swap concept involving Cal Expo, Arco Arena and an eight-acre piece of city-owned land at the downtown railyard. NBA officials said they and the Maloof family, owners of the Kings, support the concept because it has what other proposals don't – private investors willing to put up money.(Story Continued...)
NBA, Kings back major land swap - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee
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