Carolina Hurricanes Secure Lease Extension; $300 Million Upgrade and Mixed-Use District Planned for PNC Arena

Thursday, June 27th, 2024

The Hurricanes have confirmed a development plan for the area surrounding PNC Arena. This plan includes new entertainment and retail spaces, office buildings, a music venue, residential apartments, and a hotel.

The team has also extended their lease, ensuring they will remain at PNC Arena through at least the 2043-44 season. This extension will initiate a $300 million renovation project for the arena, set to begin in 2025.

Tom Dundon, the owner of the Hurricanes, expressed his enthusiasm for the upcoming changes. He envisions a world-class experience for fans and attributed the success of the project to the collaborative efforts of multiple parties.

The first phase of the development will feature over 200,000 square feet dedicated to entertainment and retail, along with 150,000 square feet for office use, a hotel, and residential apartments. This phase is expected to be completed by 2030.

Additionally, the plans include a 4,300-seat ballroom managed by Live Nation. This venue will serve as a central point for music and entertainment in an area designed to include dining options, plazas, and spaces for tailgating.

Centennial Authority chairman Philip Isley shared his appreciation for the efforts that have turned this vision into reality. He highlighted the future enjoyment that millions of fans will experience as a result of the project.

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