Cavs arena to receive $140 million upgrade

Author:
Sam Amico
Dec 13, 2016 8:00 PM EST

CLEVELAND -- Quicken Loans Arena will receive an upgrade worth $140 million that will dramatically alter the 22-year old building's appearance, the Cavaliers announced Tuesday.

The finished product would improve the facility by creating more space for the public, as well as more space for bars and dining, the team says.

The Q would remain open during construction, scheduled for completion in 2020. The Cavs will pay half the cost of the renovation, with taxpayers covering the rest -- without an increase in taxes.

According to the plan, existing taxes on tickets and hotel rooms will cover the majority of taxpayers' share.

"This project is another example of how a collaborative, community effort contributes to keeping the momentum going for the City of Cleveland and the surrounding communities,” said Armond Budish, Cuyahoga County Executive. “This deal is crucial to continuing the great momentum the city and county are experiencing."

The average life of a facility is 22 years, according to a press release announcing the project. "The Q is 23 years old," it read. "The cost to build a new arena ranges between $500 and $750 million."

See renderings of the Q transformation below, and visit theqtransformation.com for more information.