National Basketball Association (NBA) franchise the Sacramento Kings has lifted the lid on plans for its US$507m (£336m, €476m) Golden 1 Center arena.

In a report published by the California-based team, it revealed that it was ploughing US$284m (£189m, €267m) of its own revenue directly into the project, with a further US$223m (£148m, €210m) coming from the city.

The Sacramento Kings will also invest an extra US$300m (£199m, €282m) in the Downtown Commons (DOCO) complex which will be developed around the Golden 1 Center, which features entertainment, hospitality and retail offerings, as well a three-acre plaza for civic space.

It will include 475,000 square-feet of office space, 350,000 square-feet of retail, a 250-room hotel and up to 550 residential units.

The 17,500-capacity Golden 1 Center is due to open in autumn 2016, with DOCO expected to launch in early 2017.

Sacramento’s report estimated that the complex will account for US$11.5bn (£7.6bn, €10.8bn) in economic activity for the city over the next 35 years, with the project estimated to create over 4,000 jobs once complete. The construction of the development will create 11,700 jobs.

Sports architect AECOM is designing the centre, while ICON Venue Group and Turner Construction are serving as project manager and lead builder respectively.

As part of the construction plans, the Sacramento Kings has tendered 78 per cent of all biddable work - totalling US$290m (£193m, €273m) - to local businesses, exceeding the 60 per cent commitment the franchise made originally.

Golden 1 Center is expected to attract 1.6m visitors each year.