The Reno skyline is evolving once again—and one of the most talked-about developments in 2025 is the ambitious Grand Sierra Resort (GSR) Redevelopment Project. Backed by a mix of private investment and newly approved public financing incentives, this multi-phase project is poised to transform GSR into a world-class destination for sports, entertainment, and community events.
As one of the largest resort properties in Northern Nevada, GSR’s redevelopment is not just a facelift—it’s a bold reimagining of what Reno’s future could look like.
What Is the GSR Redevelopment Project?
The GSR Redevelopment Project is a $1+ billion investment led by resort owner and entrepreneur Alex Meruelo, aiming to modernize and expand Grand Sierra Resort’s offerings in a major way. At the heart of the project is the construction of a 10,000-seat indoor arena, designed to host major concerts, sporting events, and the future home of UNR’s men’s basketball team.
But the arena is just the beginning. The full redevelopment plan includes:
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State-of-the-art arena for concerts, sports, and large-scale events
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New restaurants, bars, and nightlife venues
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A community ice rink open to the public
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An upgraded golf driving range and sports tech facility
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Expanded event space and conference areas
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Major landscaping and parking improvements
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Enhanced pedestrian access and public amenities
This project is more than just a resort upgrade—it’s designed to turn GSR into a regional anchor for tourism, events, and economic activity.
A Game-Changer for Sports & Entertainment
The new arena is expected to draw year-round events, from NCAA basketball and minor league games to A-list concerts and national expos. With Reno already on the rise as a travel and lifestyle destination, this development aims to capture the market for mid-size arenas in the western U.S., putting Reno in direct competition with cities like Sacramento, Boise, and Salt Lake City.
For locals, it means more access to big-name shows and events without having to travel out of state.
How Is It Being Funded?
The Reno City Council approved a $61.3 million tax increment financing (TIF) agreement to support the project. This means 90% of the new property tax revenue generated from the redevelopment will be reinvested back into the project through 2035—without raising taxes on residents.
In return, the city receives expanded infrastructure, increased tourism revenue, and job creation. It’s a funding strategy that encourages long-term private-public partnerships and supports community growth.
Job Creation and Local Impact
The GSR project is expected to create:
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Thousands of construction jobs during the multi-year build
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Hundreds of permanent jobs in hospitality, entertainment, and operations
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A boost to local small businesses as tourism increases
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A ripple effect on real estate values and neighborhood growth nearby
In addition, Meruelo has pledged that 5% of TIF funds will go toward youth sports programs in Ward 3, ensuring the community benefits directly from the development.
What This Means for Reno Real Estate
As GSR undergoes redevelopment, surrounding areas—including Midtown, Downtown, and the East 2nd Street corridor—are expected to see increased interest from both homebuyers and investors. Developments of this scale tend to boost home values, increase rental demand, and spark further infrastructure improvements.
If you're a homeowner, investor, or considering a move to Reno, this is a smart time to start watching the market near the GSR corridor.
The Grand Sierra Resort Redevelopment Project represents one of the biggest bets on Reno’s future in recent memory. With a major arena, new entertainment options, and infrastructure investment, it's setting the stage for Reno to compete on a national level as a go-to destination for sports and culture.
Whether you're a resident, investor, or future homebuyer, this project is one to watch closely—it’s shaping the next chapter of Reno’s growth.
For more detailed information and updates on the Grand Sierra Resort Redevelopment Project, visit the official project website: renoarena.com
Photography Credit : Grand Sierra Resort
