Sacramento Kings arena to offer “rich door” for nearby condo owners

Sports venues with separate entrances for luxury-seat holders are old news by now, but sports venues with separate entrances for condo owners across the street from the building, like the Sacramento Kings are about to have — that’s a new wrinkle:

“I don’t want to sound snobby—you could go and stand outside, but why would you when you have the opportunity to go through a VIP tunnel?” asked Christopher Miller, vice president of The Agency Development Group, the broker handling sales for the building. “You’re not going to wait in line, you’re going to walk right in. It’s a level of exclusivity that you and your family are going to enjoy.”

The tunnel, which runs from the residents’ parking garage to the stadium’s VIP lounge, will be accessible to all residents and their guests. Ownership of any condominium at The Residences at The Sawyer, Miller said, comes with access to the VIP lounges and seating for Kings home games. (Concerts, which are generally run by a promoter that rents the arena, are a different story.)

(Nice touch, developer guy, for prefacing your pitch to give condo buyers a special tunnel to go to sporting events without having to rub elbows with the masses with “I don’t want to sound snobby.”)

The Bloomberg article on this is awfully vague, so it’s not clear whether condo owners are actually getting free admission to Kings games, or just the ability to buy tickets for Kings games and go there through your own private passageway. (If the former, presumably the developer is paying the Kings for the tickets.) Either way, this doesn’t seem like the best sales pitch, honestly — how many people are really going to pay enough extra for this to make it worth more than you’d get from just selling those tickets to the general public — but hey, knock yourselves out, developers. Unless any city of Sacramento money went to provide this tunnel access, in which case, ew.

10 comments on “Sacramento Kings arena to offer “rich door” for nearby condo owners

  1. You would be surprised what people will pay for what they do at a sporting events.A bottle of a higher end beer in this case ‘Bells’from Michigan costs $9 at guaranteed rate field (WhiteSox)Mind you the six pack is $10 at the store but you get the idea.It seems like the further you go up the North Shore the Dumber the money gets.Rich people Overpay just because.

    • Oh, definitely. Which is why I wonder if it’s kind of dumb to be offering these perks as part of a package deal to condo owners, many of whom probably won’t care much about them, rather than offering them directly to Kings fans.

  2. Since these are million-dollar condos, I would be surprised if they did not come with free tickets to the games.

    • Here in Brooklyn, you’re lucky if a million-dollar condo comes with running water.

      • Here in Sacramento, there are few houses that sell for that price. According to Zillow’s list of current listings and recently sold homes, there were 300 out of 26,000 in that price range.

        • Yes, I know. I still wonder how much of a premium you’re going to get just because it gives you access to Kings games — though I suppose it effectively lets you deduct mortgage payments on your Kings tickets, which is something.

          • But, it’s the world-class KINGS in world-class Sacramento!!!!!

            Now excuse me while I clean the coffee off the keyboard …

  3. If the rich folks buying those condos were truly discerning they’d make sure there was no doorway at all. The Kings are horrible.

  4. Those are stupid prices. Someone is dreaming. You can buy an entire house in far nicer East Sacramento, Curtis Park or Land Park, live 15 minutes from the arena, and have access to actual grocery stores.

    Where will the occupants park their Ferraris? Under that mall?

    They absolutely will struggle to sell these units. Even at the last game of the year, about a quarter of the tickets went unused. That arena was not at all full.

    But these are the same people who suggested cruise ships as hotels for a 2020 All Star Game, even though this would be impossible (the Rio Vista Bridge is way too low).

  5. I’m still kind of surprised no one’s talking about this: The original Thiink Big team originally forecast a worst-case scenario of 120 event-nights at Golden 1 Center, and yet, as of today (May 12), there are 30 event-nights scheduled between now and October 25. Moreover, the graduations scheduled there simply moved events from Memorial Auditorium to the arena; these aren’t new events at all. And even if you count these as event-nights, the City has agreed to subsidize the Sac State graduations, so these are actually a new expense for the City, and will not produce a positive cash flow.

    I’m just not seeing how they get to 120 event-nights, much less the 185 events recently touted by an arena proponent. By my own calculations, I think they’re headed for less than 100 event-nights, many of which will not produce revenues for the City. Wouldn’t that be a huge disaster?