Grand Sierra Resort (GSR) in Reno, Nevada, announced the largest private capital investment in the city’s history. Plans are underway to infuse approximately $1 billion into the existing 140-acre property.

Alex Meruelo began doing business in Reno during the depths of the Great Recession in 2011, purchasing the Grand Sierra Resort out of bankruptcy. He took a chance on Reno at a time when there weren’t any other major investments in the local economy. In so doing, thousands of GSR team members were able to keep working at a time when Nevada led the nation in unemployment.

As he embarked on turning around the fortunes of a once-proud property, he faced skepticism. Meruelo was told the GSR was too big, too broken, too expensive - and that he would be gone within a year, the next owner to sink into bankruptcy.

But Meruelo had a plan, a commitment, and faith in his team. Fourteen years later, he has proven the doubters wrong.

Meruelo inherited his commitment and work ethic from his parents. His family immigrated to the United States from Cuba in the wake of the destruction caused by Fidel Castro. They had to leave everything behind and come to a foreign land where they didn’t speak the language and didn’t have a penny to their name. Life was incredibly difficult for his parents, but eventually they built a new life for themselves and raised him and his brothers to believe in the American Dream.

Meruelo’s belief in his dreams is what led him to Reno. He made a big bet on this city at enormous personal risk when others thought he was crazy, and now he is willing to double down and do it once again.

“The vision is to transform GSR into a destination where community, sports, and entertainment come together,” said Meruelo.

One of the biggest supporters of the project is the University of Nevada, Reno.

In addition to hosting live events, the GSR arena will also serve as the venue for the Nevada Wolf Pack men’s basketball team’s home games.

UNR President Brian Sandoval, the first alum to serve as president, attended law school at Ohio State and wants to see the Pack grow like the Buckeyes.

In an interview, Sandoval, a former two-term governor, noted that no one has offered to invest in the university’s current on-campus basketball arena, Lawlor Events Center, which was built in 1984 and has not been updated to meet modern standards for Division I programs.

“It will benefit our students and give them a better experience,” said Sandoval, who was recently appointed to the NCAA Division I Board of Directors. “It may be the last opportunity to have a project of this quality and at this magnitude.”

The centerpiece of this visionary project is a cutting-edge arena, designed to host various events such as concerts, special events, basketball games, ice hockey and other sports, with a capacity exceeding 10,000 seats. The arena will span approximately 300,000 square feet and offer contemporary amenities, including suites and premium hospitality clubs.

Expanding beyond the arena, the plans encompass a comprehensive beautification of Grand Bay. This will include the creation of an active golf facility and entertainment destination, a scenic walking path and a captivating water show.

In response to the anticipated surge in demand, plans are also in place for an 800-room hotel tower. One or more parking garages will be constructed to ensure seamless access to these new facilities.

Recognizing the need to support the growing workforce essential to the success of these ambitious projects, the initiative will include the creation and construction of approximately 300 affordable riverfront residential units.

The GSR filed a new construction permit with the city of Reno in July for the project, which will be done in multiple phases.

The first phase of the project, details listed in the permit include a 10,000-seat capacity arena, community ice rink and a 2,400 spot parking garage. The first phase of the project will cost $786 million.

The GSR Arena is expected to open in late summer of 2027 with the Nevada men's basketball games played in the arena in fall 2027.