Who’s funding downtown Rancho Cordova arena? What will it feature? What to know
As Rancho Cordova’s downtown arena project moved closer to breaking ground, one of the project’s developers said funding is “on track” to being secured and event bookings are in the works.
The 10,000-capacity venue, with 7,500 fixed seats, is planned for the corner of Kilgore Road and Trade Center Drive. It is expected to become home to the Sacramento area’s two Major Arena Soccer League teams and could later expand to include housing, hotels, retail, restaurants, a card room and the city’s first movie theater and bowling alley.
Joshua Wood, one of the project’s developers, said crews were expected to break ground in late spring or early summer. Garrett Gatewood, Rancho Cordova’s mayor, similarly told The Sacramento Bee last week that the project would break ground this summer.
The project is scheduled to go before the city’s Planning Commission in March or April, Wood said.
Wood said developers were considering opening the arena with either a three-day music festival or a three-day event featuring music and sports. He said an agreement was in place with Midnite Events to book concerts and that organizers hoped to feature electronic dance music, pop, rock, country and Latin acts.
“We’re really trying to make sure that we’re being diverse and hitting all the different genres,” said Wood, the twin brother of Sacramento State President Luke Wood.
Joshua Wood also said he hopes to announce more about combat sports events soon.
Who’s funding the arena?
Wood said the arena would be “privately financed between a mix of local and outside investors and lenders,” many of whom are local to Sacramento and Rancho Cordova.
“It’s a ‘many hands make light work’ situation where there’s a decent amount of people who’ve come together to put in dollars to make sure that this happens in the community we all live in,” Wood said.
The city of Rancho Cordova is not directly contributing money to the project, according to Wood and Maria Kniestedt, a city spokesperson, though the city would assist and could receive financial benefits.
The current agreement proposes shared future revenue streams, development impact fee and building permit fee waivers, and the dedication of a portion of the 13-acre city-owned parcel, which Kniestedt said has an estimated value of approximately $6.8 million. Wood said the arena would generate new tax revenue, a portion of which would return to the project.
The city waived $940,000 in fees for the project, covering reviews for the design, civil and building plans; a CEQA consultant review; zoning check fees; a grading permit; and city attorney’s fees to draft the development agreement.
Wood said the city has been “an incredible partner” in developing the arena.
“People don’t build these every day for a reason,” Wood said. “They’re very difficult projects.”
Wood and his business partner, Charanjeet Kaur Tiwana-Purewal, founded KozPure Development, which will serve as the Downtown Dova project’s developer, and Alpha One Sports and Entertainment Group, the property owner, in 2024 and 2023, respectively.
The initial ownership group of the soccer team includes Wood and Tiwana-Purewal, along with Mark Daya, founder of Sac Platinum Realty in Rancho Cordova, and Caleb Kwong, CEO of Sacramento-based IT advisor Savant Solutions. Wood said the ownership group was expected to expand, with approximately two dozen people expressing interest.
This story was originally published February 19, 2026 at 7:03 AM.
