Sacramento City Council Approves $321 Million Investment for New Soccer Stadium and Entertainment Venue at The Railyards

The Sacramento City Council has approved a preliminary term sheet for a $321 million private investment to build a new soccer stadium for Sacramento Republic FC and a live entertainment venue in downtown’s Railyards. Mayor Darrell Steinberg called the decision historic, stating, “We are breaking barriers and making history here in Sacramento,” in

Sacramento City Express

.

The projects are expected to double the size of the central business district and promise a boost in employment. City Manager Howard Chan conveyed optimism, stating that the approval is a pivotal first step in a multi-phase process to transform The Railyards into a destination for all Sacramentans. The soccer stadium, with 12,000 seats, requires a private funding of $226 million, while a separate $95 million is allocated to convert the historic Paint Shop building into a 3,600-seat live entertainment venue. Funding will partly come from an expansion of the Stadium Enhanced Infrastructure Financing District (EIFD), which is projected to generate about $518 million over 45 years.

There is further investment in the surrounding infrastructure, with the City Council having approved $14 million in City economic development funds to acquire parcels for the Sacramento Valley Station Area Plan, an endeavor expected to eventually reimburse through the EIFD. These projects are anticipated to ignite local employment, with the stadium and entertainment venue likely to produce 1,300 jobs collectively.

The next steps involve the City staff to initiate work on the EIFD expansion and plan to return to the Council in early 2025 for finalizing the EIFD plan, as per the

Sacramento City Express

report. The completion of the soccer stadium is projected by the end of 2026, while the live entertainment venue is set for a 2027 opening.

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