What's Next for the Moda Center? Get More Facts

Overview

The Moda Center is our house – literally. It's owned by the City of Portland, home to the Portland Trail Blazers and Portland Fire, and it's the largest arena in Oregon. Every year, the Moda Center attracts 1.5 million visitors to 150 events and generates $600 million for the local economy. It also supports thousands of jobs.

As part of this Spring's state legislative session, state leaders, Mayor Wilson, County Chair Vega Pederson, and the Blazers' new owners outlined a potential $573 million deal for a major renovation, tied to a 20-year lease. No money would go to the Trail Blazers or their ownership under this proposal; it would be spent renovating the arena. The potential breakdown looks like this:

• State of Oregon: $365 million. (The state legislature has agreed to put up this money, on condition that the Trail Blazers sign a 20-year lease.)
• Multnomah County: $88 million. (Chair Vega Pederson has proposed this figure. The County Commission has not yet approved.)
• The City of Portland: $120 million. (Mayor Wilson has proposed this figure. City Council is now weighing its options. That's where you come in.)

Find facts and background on the proposed upgrades to the Moda Center and see results of an online survey.

See survey results

More than 18,000 people responded to an online survey conducted in June 2026. This survey is not statistically valid. But it does provide some insight into how people think about the issue of renovating the Moda Center.

Why do we need to renovate the Moda Center?

The City owns the Moda Center, and it hasn't been updated in 30 years, which is uncommon for an arena of its size. Even in good working order, Moda's 1995 building is increasingly out of step with current arena technology, practices, and expectations. Many of Moda Center's building systems are nearing end-of-life. It needs significant repairs and updates to keep it fully operational and meeting the needs of venue-goers, workers and events for decades to come.

Why is the City considering doing this now?

The State of Oregon committed to contribute up to $365 million in bonds for the renovation. To fulfill the bond requirements, a new lease with the Moda Center's primary tenant must be signed by December 2026. Without this, the City will not receive State funding to support the renovation. The lease for the Blazers — the Moda Center's primary tenant — is set to expire in 2030.

Have city councilors signed a non-disclosure agreement (NDA) for the negotiations with the Blazers?

No, council has not been asked to sign an NDA.

The City's former Chief Administrative Officer signed an NDA a few years ago on behalf of the City. That's because, in order to negotiate a good deal for Portland, the City has to be able to see under the hood of the Blazers' finances — including information they won't want shared with other businesses.

The NDA only provides confidentiality for materials shared by the Blazers during negotiations. It would not restrict Councilors from sharing information with the public about what we're bringing to the table and what we're being asked to agree to.

How much will Moda Center renovations cost, and who will pay for it?

• A major renovation is estimated to cost around $600 million up front. Ongoing maintenance would cost an additional $285-300 million over 20 years.
• The State has committed to bond up to $365 million towards the plan for a major renovation of the Moda Center. Multnomah County has proposed contributing $88 million. Without private investment, the City would need to fund the remaining portion, expected to be up to $120 million.
• Even without a renovation, the Moda needs maintenance. The City's 2024 Facility Assessment estimated the Moda would need $482 million over 20 years to maintain the building as-is. At this time, the State and County haven't made any commitments for this option.
• Building a new arena would be much more expensive, with estimated construction costs over $1 billion. Maintenance would add millions more.

The money the City puts in would pay for renovating our arena; it would not go to organizations leasing the space. The proposal doesn't include public dollars going towards tenant-specific upgrades like an owner's box. These would need to be privately financed.

How will the City pay for its share?

City Council will have to approve any City dollars that are spent on the project, and has not deliberated or made any decisions yet. Some options that have been suggested include:

• The City is anticipating potentially up to $45 million in tax revenue from the sale of the Portland Trail Blazers from the estate of Paul Allen to the new owners. Depending on various factors associated with the sale of the franchise, the amount and timing of any potential revenue is unknown and variable until collection and receipt is deemed final. This revenue is not currently allocated to any future expenses and could go towards the $120 million the City would invest in the Moda Center. 
• The City's Spectator Venues & Visitor Activities Fund is generated by fees from tickets and parking at City-owned venues, and from taxes on hotel rooms and rental cars. The purpose of this fund is to provide oversight of City-owned spectator facilities and to support travel, tourism and visitor development efforts.
• Public funds, such as Portland Clean Energy Community Benefits Fund (PCEF) for the portions of the renovation that decrease carbon emissions, and the Prosper Portland Strategic Investment Fund (SIF) for portions that may generate revenue for economic development.
• Bonding against other City funds and/or revenue. Bonding is a form of debt that carries interest payment obligations for the City.

What needs updating at the Moda Center, and what are the costs of these upgrades?

In 2024, Venue Solutions Group conducted a Facility Condition Assessment to make recommendations for repairs and replacements. There are also additional improvements proposed for a major renovation.

Improvements proposed for a major transformative renovation include investments in concert rigging and technology, accessibility, seating, signage, energy efficiency, and significant changes to the design and layout of the arena's concourses, concessions, and exterior areas. This list of investments is currently a proposal and will have to be negotiated.

In the assessment's 20-year capital plan, about 280 maintenance items are identified for keeping the building functioning at its 1995 design, categorized as High, Medium, or Low priority.

The High priority category includes several structural repairs, safety improvements for seating areas, fire alarm maintenance, speaker system replacement, lighting and lighting control upgrades, updated security systems, hardware replacements for concessions, and escalator and elevator replacements and updates. High priority items are estimated to cost roughly $130 million in 2024 dollars.

The Medium priority category includes repairs to the service tunnel, where load-ins and load-outs take place, restroom renovations, and electrical generator replacement. Medium priority items are estimated to cost roughly $290 million.

The Low priority category includes roof membrane replacement, repairs and replacements in seating areas, and replacement of water boilers and water chillers. Low priority items are estimated to cost roughly $50 million.

The facility assessment also identifies replacing ice rink technology ($9 million) and the scoreboard ($14 million). The scoreboard replacement has already been completed, and there are no plans to replace the ice facilities because they are provided at Memorial Coliseum.

What are the steps in the process?

• Late June – Council work session and discussion of community feedback from survey and in-person engagement events.
• Late July – First hearing and public testimony on about a "Term Sheet," a non-binding preliminary document outlining the key economic and control terms of the proposed operator lease
• August – Council votes on a resolution approving a Term Sheet.
• September-November – Lease negotiations.
• Late November/Early December – Council votes on an ordinance or resolution approving a "Memorandum of Understanding" (MOU), a bonding document detailing final negotiated terms of the operator lease.
• First quarter of 2027 – Council votes on an ordinance to approve the "Definitive Documents," a formal operator lease agreement written in compliance with the terms of the MOU.

Does this only benefit the Blazers?

A modernized Moda Center directly benefits the workers and event-goers for every event that's held at the arena. That includes our local Portland Fire WNBA team and countless concerts, shows and other sporting events like NCAA tournaments. It also benefits the surrounding area through increased activation.

Any lease the City signs with the Blazers is expected to contain a Community Benefits Agreement – a contract ensuring that the community benefits from the deal by requiring the lessee to provide specific provisions. The City will negotiate the terms of the agreement.

What will the impact of the renovation be on the surrounding neighborhoods, the City broadly, and the greater Metro area?

Moda Center attracts more than 1.4 million visitors a year and generates more than $600 million in regional economic activity each year.

Moda Center event-goers often patronize local restaurants and bars and stay at local hotels before and after attending an event, spurring economic activity in the neighborhood and in other parts of the city. Nearly two-thirds of visitors to the Rose Quarter come from somewhere other than home or work, and 40% go directly to another establishment after their visit.

What could we negotiate for in the lease?

The City could potentially negotiate the length of the Blazers' lease, the annual rent that the team pays to the City, a penalty for terminating the lease early, and more.

Other cities with arenas and stadiums have also negotiated agreements to secure things like affordable housing development, childcare subsidies, and support for small businesses, youth sports programs and public health programs. The City would work to secure the best deal possible for Portlanders so that the community benefits extend far beyond just those who patronize the Moda Center.