A groundbreaking ceremony is happening for the new arena at the Grand Sierra Resort late Tuesday afternoon. 

Once finished, the 10,000-seat arena will be home to the Nevada's men's basketball team. 

Future phases will include a new hotel tower and workforce housing. An ice rink and fan zone are also planned. 

The GSR previously announced that Martin-Harris Construction would be the general contractor for the arena project, which is the first phase of the billion-dollar investment. 

Alex Meruelo, owner of Grand Sierra Resort called Martin-Harris Construction a "firm that understands the landscape, the opportunity, and the importance of this transformational project.”

As general contractor, Martin-Harris will oversee the construction of the new 10,000-seat arena that will serve as the future home of the Nevada Wolf Pack men’s basketball team, concerts, and a community ice center.

“We’ve been building in Nevada for nearly 50 years, and delivering on a client’s trust has always been at the heart of what we do. Being part of this next chapter for Reno means a great deal to our team. We’re proud to partner with GSR and the Meruelo Group to deliver a project our entire community can take pride in,” said Guy Martin, President of Martin-Harris Construction in a statement.

For more information on the project, visit renoarena.com