Essay on Sacramento : The New Home For The Sacramento Kings

Essay on Sacramento : The New Home For The Sacramento Kings

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Sacramento, California is currently in the midst of a potential economic and social revolution in its downtown area. There are several, huge developmental efforts that are currently ongoing. Most of Sacramento’s development revolves around the Golden 1 Center, the new home for the Sacramento Kings. In addition to the arena, Sacramento is creating housing and retail developments in the same area, known as the Downtown Commons. The upcoming development will certainly change the city. However, Sacramento is relying heavily on the Golden 1 Center to raise economic and social environment in downtown.
There are several course concepts that relate to the development project in Sacramento. First, Sacramento’s efforts are highly relatable to modernization theory. The Sacramento Kings have chosen an area that lacks many socio-economic advantages. In total, the project was expected to generate $230 million of economic activity according Most of which will filter into the pockets of investors and business owners in the area. This provided the Kings an advantage to purchase in a location which urbanization could easily be established in. Retail stores, restaurants, etc will purchase existing and vacant buildings that will make the area more attractive. As the attraction of living in a populated urban center increases, Sacramento will continue to urbanize as outside tenants will hope to attain residency in the area. The development could put the current residents at a distinct disadvantage. Current residents will have to deal with the increasing price of the housing market. For many, it will cause displacement and force people to move out of the area. As inequality continues to grow, this will allow for capitalism to further establ...

... middle of paper ..., capital was gained only by the franchise the infiltrated the lacking market. Thomas Grennes claimed creative destruction increases productivity. However, the Kings have entered a a market full of service jobs. Their relocation has effectively evaded the theory of creative destruction. The project is predicted to produce major economic benefits for those invested. The Kings alone, have produced nearly 2,000 construction jobs and several hundred more for arena operations according to The arena has been productive for sourcing multiple levels of economic income. Further, after the arenas completion more service jobs will be available as development continues. Thus, the Sacramento Kings have effectively entered an economic market without diminishing the existing market. In fact, it may eventual enhance the market as further investment comes into the area.

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