The proposed Sunrise Sports Center is designed to serve as the catalyst for the Sunrise Tomorrow redevelopment, unlocking opportunities by creating favorable market conditions. Photo courtesy of the City of Citrus Heights

CITRUS HEIGHTS, CA (MPG) - The Sunrise Sports Center has reached its next major milestone. The Mettle Shop has signed an agreement to purchase approximately 13 acres from leading West Coast developer and investor, Terrence Tallen, CEO of Tallen Capital Partners, the investor group under contract to become the majority owner of the Sunrise Mall property. The agreement officially establishes the planned location for the facility and a path toward completing the property purchase as a unique and key anchor for Tallen Capital’s comprehensive redevelopment of the Sunrise Mall.

In March, the City of Citrus Heights approved the public-private partnership and financing framework needed to advance the project, with the expectation that a subsequent agreement would secure the planned sports center property. This latest agreement delivers on that anticipated next step by placing the property under contract.

“This is how a project of this scale moves from vision to construction, one major milestone at a time,” said City Manager Ash Feeney. “With the partnership framework in place and an executed purchase agreement, the Sunrise Sports Center continues to advance.”

The proposed Sunrise Sports Center is designed to serve as the catalyst for the Sunrise Tomorrow redevelopment, unlocking opportunities by creating favorable market conditions. By attracting year-round visitors and investment, the sports center will help transform the larger Sunrise Mall property and reestablish Citrus Heights as a premier regional destination. Plans include a 4,000-seat arena, two ice rinks and covered turf fields. The center is expected to attract approximately 1.29 million visits annually and support more than 350 jobs. That year-round activity can increase demand for restaurants, hotels, shops and entertainment throughout Sunrise Tomorrow, helping transform the property and surrounding marketplace into a regional destination.

The Sunrise Sports Center project includes more than $60 million in private investment. The city has also committed to pursuing revenue bonds that leverage its strong credit rating to help secure more favorable financing. Unlike most municipal bonds, which are typically repaid with tax revenues or other public funding sources, the Sunrise Sports Center bonds are designed to be repaid with revenue generated by the facility itself. General Fund dollars that support police, road maintenance and other city services are not intended to repay the bonds. The bonds do not require a new tax or assessment on residents or businesses.

Over the next year, the project team will advance the property purchase, design, financing and city review process. The project and its financing will return to the City Council for consideration and approval before construction moves forward.

More information is available at sunrisetomorrow.net.