The NBA announced Friday it is working with a local real estate developer on a multiyear lease of land in the downtown area.
The NBA also announced it is partnering with the firm of RBLX Land Codes to develop an NBA arena.
The land lease, which is expected to be approved by the city in the coming months, is one of the largest ever in the NBA.
It will include approximately 15 acres of land, which would include an expansion floor, court space and parking.RBLX, which has offices in Atlanta and New York, is owned by a group of prominent African American and Hispanic business owners, including George Clooney, J. J. Abrams, and Justin Timberlake.
It’s also a tenant in the New York City Marriott Marquis, which owns the iconic Midtown Manhattan hotel.RBC is expected be the third major development company to work with the NBA, joining the company of Landscape Group, which will develop the new Barclays Center in Brooklyn, and the company behind the proposed arena in Miami.
The RBLx land lease will run through 2020, with an option to extend for as long as the NBA’s current lease expires in 2021.
The company is also developing several projects in the Miami area, including the Miami Beach Convention Center and the Miami Marlins baseball team.