The arena opened in 1983 and sits just east of Mulcahy Stadium as part of the Chester Creek Sports Complex.

[6] Sullivan Arena hosted the 1989 World Junior Ice Hockey Championships along with the Harry J. McDonald Memorial Center in Eagle River.

In May 2023, the homeless shelter shut down, as Anchorage mayor Dave Bronson said it needed to return to hosting hockey games and concerts.

[10] There were plans, projected for 2015, for the neighboring Mulcahy Stadium to be demolished and rebuilt to its west in order to create 400 new parking spaces for the arena.

Musicians that have performed at the arena include The Beach Boys, Johnny Cash, Eric Clapton, Jimmy Buffett, Bon Jovi, Scorpions, Ozzy Osbourne, Steve Miller Band, Dr. Dre, Snoop Dogg, Coolio, Filter, Lonestar, Metallica, Aerosmith, Green Day, Stone Temple Pilots, No Doubt, Blink-182, James Brown, Elton John, Red Hot Chili Peppers, 36 Crazyfists, Sum 41, Chicago, and Luke Bryan.