Prior to its permanent home in the gashouse, the Valley Arena was first established in a space at 560-66 Main Street in 1916 by Homer Rainault, and his business partner Amedee F. Goulet, as a gym.
The two had previously run a cigar counter and billiard academy for 23 years in the same neighborhood, and by the time they opened the Valley Arena, Rainault was a promoter who had previously organized fights in Hartford, Troy, and West Springfield.
Rainault's career as a promoter would really begin after 1920, when the Commonwealth officially legalized boxing, theretofore an underground sport.
On August 11, 1925, Valley Arena, Inc. was formally incorporated, and by October 23, 1925, the company had purchased an old brick gasholder house from the City of Holyoke's municipal gas works.
The sale at the time was listed in the register of deeds as a land sale as the gasholder house had been previously decommissioned in 1915, was briefly considered as a site for a new public bathhouse, but had remained unoccupied since.
After 3 months of construction, the new converted Valley Arena Gardens debuted with their first fight on February 8, 1926 with a match between one "Petey" Mack and Leo "Kid" Roy.

On June 13, 1943, at approximately 2am, the first of three fires in the Arena's history broke out.
An hour after owner Homer Rainault left the building, local patrolmen reported seeing flames billowing out of the building.
Starting on the first floor and filling all reaches, the fire caused between an estimated $150–200 thousand dollars (approx.
$2.1 to 2.5 million in 2017 USD).
The building was insured however, but only for $100,000 dollars; in the weeks following the fire, owner Homer Rainault expressed doubts over rebuilding.
Ultimately Rainault decided to rebuild, and used the Holyoke War Memorial Building as a music venue for the remainder of the year, hosting a number of artists, including The Ink Spots, during this time.
Fights continued at a local club in Springfield and by August of that year, Rainault had put everything in place to rebuild.
Eight months after the devastating fire, the venue reopened on February 28, 1944 with a 10 round match between bantamweight champion Louis Salica and one Mario Colon, a rising star from Mexico.

In 1944, the Arena's founder Homer Rainault died unexpectedly from a cerebral hemorrhage at the age of 58; by that time he had gained a reputation as a promoter for giving many nationally famous boxers their start in the Connecticut Valley.
The board of directors ultimately voted for his nephew, Oreal D. Rainault to take his place.
Rainault would eventually sell the venue in 1952 to two businessmen, Jack and Ralph Kane of Norfolk, Virginia; making it clear that this sale was only partial as he retained stock in the company.

Even before the second fire, the venue had begun to see a decline in its attendance for boxing matches as television gained popularity while stage shows and  events that relied on audience attendance saw shrinking numbers across the country.
On November 11, 1952, the boxing matchmaker, Joe Di Maria, resigned due to dwindling crowds that season.
In contrast with its boxing, by the end of 1952, concerns had been raised by Holyoke police and fire departments about overcrowding at the venue's night club.
On December 23, the police and fire chiefs held a conference stating that maximum capacities would be discussed with and enforced by the Arena's management, denying rumors that the venue was being given a pass.

Only three days after that press conference, on December 26, 1952, the second started in the Circus Lounge of that building in the early hours of the morning.
Future Holyoke fire chief William W. Mahoney, then a member of one of the companies which fought the fire, later went on to describe it as "one of the most vicious fires for smoke conditions [he'd] ever seen," severe enough that an eye doctor had to set up a first aid station at the scene.
The three-alarm fire quickly spread, and led to tenants across South Holyoke being roused from their beds in case of a possible evacuation.
Prior to its permanent home in the gashouse, the Valley Arena was first established in a space at 560-66 Main Street in 1916 by Homer Rainault, and his business partner Amedee F. Goulet, as a gym. The two had previously run a cigar counter and billiard academy for 23 years in the same neighborhood, and by the time they opened the Valley Arena, Rainault was a promoter who had previously organized fights in Hartford, Troy, and West Springfield. Rainault's career as a promoter would really begin after 1920, when the Commonwealth officially legalized boxing, theretofore an underground sport. On August 11, 1925, Valley Arena, Inc. was formally incorporated, and by October 23, 1925, the company had purchased an old brick gasholder house from the City of Holyoke's municipal gas works. The sale at the time was listed in the register of deeds as a land sale as the gasholder house had been previously decommissioned in 1915, was briefly considered as a site for a new public bathhouse, but had remained unoccupied since. After 3 months of construction, the new converted Valley Arena Gardens debuted with their first fight on February 8, 1926 with a match between one "Petey" Mack and Leo "Kid" Roy.
On June 13, 1943, at approximately 2am, the first of three fires in the Arena's history broke out. An hour after owner Homer Rainault left the building, local patrolmen reported seeing flames billowing out of the building. Starting on the first floor and filling all reaches, the fire caused between an estimated $150–200 thousand dollars (approx. $2.1 to 2.5 million in 2017 USD). The building was insured however, but only for $100,000 dollars; in the weeks following the fire, owner Homer Rainault expressed doubts over rebuilding. Ultimately Rainault decided to rebuild, and used the Holyoke War Memorial Building as a music venue for the remainder of the year, hosting a number of artists, including The Ink Spots, during this time. Fights continued at a local club in Springfield and by August of that year, Rainault had put everything in place to rebuild. Eight months after the devastating fire, the venue reopened on February 28, 1944 with a 10 round match between bantamweight champion Louis Salica and one Mario Colon, a rising star from Mexico.
In 1944, the Arena's founder Homer Rainault died unexpectedly from a cerebral hemorrhage at the age of 58; by that time he had gained a reputation as a promoter for giving many nationally famous boxers their start in the Connecticut Valley. The board of directors ultimately voted for his nephew, Oreal D. Rainault to take his place. Rainault would eventually sell the venue in 1952 to two businessmen, Jack and Ralph Kane of Norfolk, Virginia; making it clear that this sale was only partial as he retained stock in the company.
Even before the second fire, the venue had begun to see a decline in its attendance for boxing matches as television gained popularity while stage shows and  events that relied on audience attendance saw shrinking numbers across the country. On November 11, 1952, the boxing matchmaker, Joe Di Maria, resigned due to dwindling crowds that season. In contrast with its boxing, by the end of 1952, concerns had been raised by Holyoke police and fire departments about overcrowding at the venue's night club. On December 23, the police and fire chiefs held a conference stating that maximum capacities would be discussed with and enforced by the Arena's management, denying rumors that the venue was being given a pass.
Only three days after that press conference, on December 26, 1952, the second started in the Circus Lounge of that building in the early hours of the morning. Future Holyoke fire chief William W. Mahoney, then a member of one of the companies which fought the fire, later went on to describe it as "one of the most vicious fires for smoke conditions [he'd] ever seen," severe enough that an eye doctor had to set up a first aid station at the scene. The three-alarm fire quickly spread, and led to tenants across South Holyoke being roused from their beds in case of a possible evacuation.
Valley Arena Gardens