When Lake Placid was selected as the host of the 1932 Winter Olympics, the area already had several facilities, including an ice rink.

Due to the time constraints and number of events that would take place, the Olympic Committee decided that an additional ice rink would need to be built.

[3] The 1932 Arena faded into the background afterwards and, though it remained in operation, it did not possess the same amount of caché that its replacement did, particularly after the Miracle on Ice.

In 2005, the rink was renamed after Jack Shea, who had won two speed skating gold medals in 1932.

After nine months of work, the Jack Shea Arena reopened on December 3, 2021, featuring many new amenities, including a dehumidification system, new refrigeration system, concession area, and the ability to be converted between Olympic (100 feet wide) and NHL (85 feet wide) sizes.