Grand Sierra Resort outlines $1B expansion plan for new arena in Reno

The Reno City Council and Redevelopment Agency Board convened on May 7, 2025, to discuss significant redevelopment proposals, particularly focusing on the Grand Sierra Resort's (GSR) expansion project. The meeting highlighted three deal options negotiated between city staff and GSR representatives, which aim to enhance the city's infrastructure while addressing financial implications for the redevelopment agency.

The first option proposes a 100% Tax Increment Financing (TIF) reimbursement, allowing the city to acquire land for Fire Station 21 at no cost. The second option, supported by city staff, offers a 90% TIF reimbursement while maintaining a lease for the land at market rates, with a future purchase option reserved for the agency. The third option also suggests a 90% TIF reimbursement but allocates the remaining 10% for investments along the river adjacent to GSR, raising concerns about setting a precedent for future applicants to dictate fund allocations.

GSR's representatives, including CEO Alex Morello, presented the project's potential to transform Reno's skyline and economy. Morello emphasized his commitment to investing $1 billion of his own funds into the project, which he believes will significantly benefit the community and elevate the university's athletic programs. The proposed development includes a state-of-the-art arena and various non-gaming amenities, aiming to attract visitors and boost local businesses.

University of Nevada President Brian Sandoval and Athletic Director Stephanie Remp also voiced strong support for the project, highlighting its potential to enhance the university's athletic facilities and overall community engagement. They underscored the importance of creating a vibrant college town atmosphere, which they believe will foster economic growth and community unity.

The council's discussions reflected a cautious optimism about the project, balancing the potential economic benefits against the risks associated with TIF funding and the implications for future redevelopment initiatives. The meeting concluded with a call for further deliberation on the proposed options, emphasizing the need for a responsible approach to urban development that prioritizes community interests.