Pinball wizards, take note: a new arcade, movie theater, bowling alley and laser tag arena are on the horizon in Rancho Cordova.
The Rancho Cordova City Council voted July 1 to contribute $6 million in cash and land toward the development of a new entertainment complex on the northeast side of town. The contribution includes $1 million in cash, $4.6 million of city-owned land, and $775,000 in deferred fees. It constitutes the city's biggest subsidy of a development project in its 10-year history, said Micah Runner, the economic development manager for the city of Rancho Cordova.
The proposed complex, a 72,000-square-foot facility on Kilgore Road, will be situated on a 13-acre plot of land purchased by the city in 2005. The city was courted by developers who pitched possible uses for the land until 2011, when it settled on the entertainment complex pitched idea by D&S Development.
The city pursued the project partly because Rancho Cordova is without a movie theater or bowling alley, two attractions that residents want, Runner said. The city also wants to draw new people and businesses that might come to Rancho Cordova as a result of the complex.
The project, which is being spearheaded by D&S Development, Diede Construction and American Family Entertainment, has an estimated cost of $28 million. About $16 million of that will come from private investors.
The start date of the project depends on how quickly the developers for the project can find investors, but the city hopes they will break ground by 2015, Runner said.
Call The Bee's Benjamin Mullin, (916) 321-1034.