Continuing a string of venue renovation projects around the country, venue development and investment company Oak View Group has officially broken ground on the $200 million redevelopment of Baltimore Arena. The renovation of the 60-year-old venue is projected to last until February 2023 and will transform the space into a multi-purpose sports and entertainment venue.
More and more development projects are getting underway as live events roar back this year. Oak View Group has recently opened several new venues, including the Climate Pledge Arena in Seattle and the UBS Arena at Belmont Park in New York. It has also announced its plans to build a new entertainment district south the of the Las Vegas Strip, which is set to begin development next year. These new entertainment venues will also help local cities and areas recover economically following the pandemic.
For the Baltimore project, Oak View Group is working with the Baltimore Development Corporation (BDC), Fundamental Advisors, and Thirty Five Ventures (35V), and also announced last week that it has partnered with superstar Pharrell Williams as well.
The renovation will include revamping the building’s appearance, adding seats and suites, and upgrading concession areas, and will also feature sustainable additions including LED lighting and locally sourced materials. Naturally, technology will also be a focus. The updated arena will include touchless tech for food and merch purchases, as well as enhanced telecommunications infrastructure and wireless network, which likely means 5G connectivity.
“The $200 million private investment we’re making in Baltimore Arena, which comes at no cost to taxpayers, will be a catalyst to rejuvenate downtown Baltimore with new life, new jobs, and new economic stimulus,” said Tim Leiweke, CEO of Oak View Group, in statement. “I started my career 40 years ago with the Baltimore Blast in this very arena and believe this transformation will create a world-class point of destination for live entertainment for all of Baltimore.”
Pharrell Williams added, “Baltimore is part of what we Virginians call the DMV, a region I am very committed to. This city has so much to offer through its growing music scene, entertainment, and sports, and it’s clear the time is right for Baltimore Arena to breathe new life into the region. I believe in this region, this project, and I’m thrilled to invest in its future.”