Golden 1 Center Profoundly Impacting Downtown and Region

Golden 1 Center has created new investment and interest in downtown while directly impacting the region’s economy and quality of life. As it celebrates its second anniversary, the following snapshot by Downtown Sacramento Partnership identifies the economic activity and impact of the arena. As the center of nearly $3.2 billion in investment in the region’s core, new projects around the arena in Downtown, Midtown and West Sacramento are quickly transforming the region into a thriving metropolis with a growing urban center.

Since May 2014, downtown property sales have totaled nearly $1.4 billion. Golden 1 Center continues to drive revitalization efforts with 55 properties and 5.6 million square feet of space changing hands.

• Since the opening of Golden 1 Center in 2016, 25 downtown properties totaling more than $800 million with more than 2.8 million square feet of office space have sold.

• There are also 24 new development projects currently under construction and another 47 projects planned.

Additionally, downtown employment has grown by 44 percent. As excitement and interest for proximity to Golden 1 Center has increasingly grown since construction began, downtown Sacramento continues to grow as the employment hub for the region.

• 37 new ground floor retail businesses opened during the arena’s second year while another

38 new retail businesses are expected to open in the coming months. Downtown pedestrian traffic at 7th & K streets increases by 51 percent on event days at Golden 1 Center. The increasing foot traffic near Golden 1 Center indicate hubs of activity and economic growth in downtown.

• Since the arena opened in 2016, pedestrian traffic downtown increased by 45 percent. • In the last year, the arena hosted more than 150 ticketed events in addition to hundreds of

community and private events, and in 2018, Pollstar ranked Golden 1 Center #13 in the U.S. and #40 in the world in ticket sales.

As the Sacramento Kings kick off their third season at Golden 1 Center, downtown office vacancy rates have dropped to a 5-year low at 8.1 percent. Downtown is fast becoming a vibrant urban hub with investors and employers looking to locate near Golden 1 Center.

Sacramento continues to top the nation’s “best of” lists. Golden 1 Center is just one of a number of factors contributing to the increasing growth, vibrancy and opportunity of downtown Sacramento. Highlighted by the wide variety of “SACCOLADES” picked up over recent years, the region’s blossoming quality of life and growing culture have made it a destination for visitors and long-time Sacramentans alike.

#1 Game Changing Place to Live (Sunset Magazine) #1 Most Underrated City in California (Thrillist) #1 Fastest Growing City in California (California Department of Finance) #3 City Where Millennials are Moving (Smart Asset) #24 Most Fun City in the U.S. (WalletHub) #24 Best Big City in the U.S. to Live In (WalletHub)

Data Sources: Downtown Sacramento Partnership, CoStar, Sacramento Kings, Pollstar