Quicken Loans Arena, the home of Cleveland Cavaliers will undergo a renovation. Half of the budget for the makeover will be provided by money from the taxpayers.
Cleveland Cavaliers announced on Tuesday, De. 13 of their plan to renovate the stadium as reported by NBA.com.The stadium which is also known as “The Q” will have its makeover with an allocated budget of $140 milllion.
The upgrade will provide more public space for dining, bars and public gathering. This will transform the 22-year old arena to become more attractive and relevant for the years to come. Half of the renovation budget will be provided by the taxpayer’s money without without any increase in taxes. The allocated budget from public fund will be provided from hotel rooms taxes and The Q tickets, while the Cavaliers will pay the other half of the budget.
Quicken Loans Arena is situated in the downtown Cleveland and it has become the home for Cleveland Cavaliers since 1994. The $140 million project will change the stadium glass front, public gathering spaces and dining areas to allow visitors to watch the game while eating.
However, in Cleveland, the discussion of using public fund to finance sports stadiums is a controversial issue as reported by Cleveland.com. In order to inform the public about the renovation, the public will be given council hearings. The Cavaliers and government believe the role of the stadium to boost economy in Cleveland will be a strong case for the renovation to go.
The Q is one of the oldest stadium in NBA and Cavaliers extend their lease to 2034 and its $70 million lease will be allocated to renovate the Q. The stadium will remain open during the construction project which expected to commence in 2017. The entire makeover is expected to finish within two years.
Watch the model for the transformation of the Quicken Loans Arena in a video below:
