I'm interested in seeing how a sports & entertainment venue in Palm Springs shifts the local lifestyle. Recently, the Band of Cahuilla Indians announced a 10,000 seat venue to be built by 2021 in downtown Palm Springs. Exciting? Yes. Many unknowns? Yes. You may be wondering why this could shift the local scenery. From a local resident perspective and real estate professional, of course I see this as a huge positive. Potentially, this could be challenging for those that live here seeking a quiet existence. However, that changed here a few years ago when the world began to see the Coachella Valley as a destination and world class desert that became an oasis.
This venue would be a sports arena for potentially an NHL American League. Additionally, it would house concerts and conventions, as well as, local yearly events. Will it bring revenue? Yes. Would it shift revenue? Potentially. It is yet unknown. It all depends on who you ask. I see real estate as increasing both from a short and long rental perspective and from a value perspective. Some other results are: increased traffic, out of area visitor increase, and new visitors that would not have others thought to come to the valley, increased business opportunities.
Time will tell. I think we can all remain watchful and excited all at the same time.