“For almost 20 years, this was one of the top 20 musical facilities in the entire country. Investors and arena developers said the 60-year-old building is poised to make a comeback as a national leader in events. In addition to hosting next year’s Central Intercollegiate Athletic Association Men’s and Women’s Basketball Tournament, the new arena already has booked two sold-out events for 2023: Bruce Springsteen and The E Street Band and the newly reunited Blink-182. He thanked lead developer Oak View Group and others involved in the project for “betting on and believing in Baltimore.” Scott said facilities like the arena motivate visitors to come for overnight stays, which helps buoy the city and shifts some of the tax burden onto visitors instead of residents. but for the economic boost in the jobs that it gives to our community.” “I know firsthand how important venues like this are for our city, not just because of the great events that we will see. “This arena is a major player in the renaissance taking place here in Charm City,” Baltimore Mayor Brandon Scott said during remarks at the naming rights event. City officials hope the arena and market spark a new wave of development that may also be complemented with a redeveloped Harborplace, an overhaul of the former “Superblock” five-and-dime district, and an influx of state employees being relocated from an aging State Center complex just north of downtown Baltimore. Nearby, the redeveloped Lexington Market had its soft-opening Monday with limited hours and vendors. The change comes as city officials and planners attempt to reinvigorate the city core after a yearslong exodus of businesses and foot traffic that accelerated during the coronavirus pandemic. Tim Leiweke, CEO of Oak View Group, Baltimore Mayor Brandon Scott and recording artist Pharrell Williams stand together after the announcement of the Baltimore Arena's name change to CFG Bank Arena. The investors include Williams, the Baltimore Development Corporation, and NBA star Kevin Durant, who grew up in Prince George’s County and leads a venture capital firm called Thirty Five Ventures. It also will feature new technologies, lighting and acoustic enhancements. The new venue - which no longer will have a permanent stage, allowing it to host more events - is being overhauled with about $200 million in private investment, and will include seats and suites, renovated concourses and concessions areas, and a refurbished exterior. Officials revealed plans to upgrade the arena in June 2021, calling the facility outdated and antiquated. It’s expected to host as many as 120 events a year. Previously known as the Baltimore Arena, 1st Mariner Arena and the Baltimore Civic Center, the facility has been under renovation for the last several months and plans to start ushering in crowds as early as February. The new name, sponsored by the Baltimore-based CFG Bank, is meant to usher in a new era for the arena. At a star-studded event featuring Pharrell Williams and former Ravens middle linebacker Ray Lewis, Baltimore officials, developers and investors unveiled Monday a new name for what formerly was Royal Farms Arena: CFG Bank Arena.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |