PNC Arena leaders announce Hurricanes lease extension, future plans

RALEIGH, N.C. (WTVD) — The biggest players who use PNC Arena announced upgrades coming to the facility that have been made possible by $300 million in funds from the City of Raleigh and Wake County.

The Centennial Authority, Carolina Hurricanes and leaders with NC State didn’t provide much details when it come to renovations. It was announced that the Canes and Centennial Authority have agreed to a 20-year lease extension.

Development plans include new retail, dining and office space. Residential units, hotel will also be built.

The convention center is also a part of the plan and is expected to double in size with a new hotel as well.

Officials tell us the investment is needed to stay competitive.

“We know the tourism industry is really important to wake county. It creates jobs, it helps expand our brand and sell ourself to folks across the country and really across the world,” said Wake County Commissioner Matt Calabria.

The Stadium Series game and a Comic-Con are just a couple of the big events this year that drew thousands of fans from all over the country straight to Wake County.

The city council could sign off as early as this afternoon.

Commissioners are voting next Monday.