Hornets Begin $245 Million Arena Upgrade With Luxury Seating Area
Construction began May 20th at Spectrum Center as the Charlotte Hornets launched their $245 million renovation. The highlight? A luxury seating area costs $94,000 per year for four seats.
This huge project unfolds in two phases, starting now. Phase two begins in April 2025, aiming to finish everything before the NBA’s 2025-26 season begins.
The new First Horizon Theatre Box emerges as a key feature. This high-end space holds 120 people and includes its lounge, marking the bank’s first partnership with the team.
The lower bowl gets 2,500 new seats. Premium spots, costing $23,500 yearly, could generate an additional $3 million each year for the team.
The money breaks down into two parts: $245 million goes to arena improvements while $30 million funds a practice facility. Players will move into their new training space in the Fall of 2026.
Two major builders are handling this project. Turner Construction partners with D.A. Everett, while Perkins&Will designs this city-owned sports venue.
“Celebrating the intersection of community, sports, and entertainment, our local team is thrilled to have collaborated on the transformative renovations of Reimagine Spectrum Center,” said Irene Vogelsong, Managing Principal of Interiors at Perkins&Will.
Teams will upgrade both fan areas and staff spaces. These improvements help the older arena stay competitive with newer NBA facilities.
Memphis-based First Horizon Bank views this deal as their entry into Charlotte. They plan to run community programs and host client events.
This is the biggest renovation for Spectrum Center since it opened. The work covers essential updates while creating new revenue opportunities.
