Construction began in 1993, and the arena, originally named Rose Garden, opened on October 12th, 1995, and remains an ongoing community icon in Portland to this day. The arena cost US$ 262 million to build with construction financed with funds obtained by a variety of sources, including the City of Portland, owner Paul Gardner Allen’s personal fortune, and $155 million in bonds issued by a consortium of mutual funds and insurance companies.
Corporate branding rights to the Rose Garden were awarded to Moda Health on August 13th, 2013, and the arena became the Moda Center at the Rose Quarter.