New Titans Stadium (60,000 capacity dome, ground level retail, directly east of Nissan Stadium)

[MLBrumby]

19 minutes ago, PruneTracy said:

Chicago today unveiled a plan to renovate Soldier Field to try to keep the Bears in town:

https://footballstadiumdigest.com/2022/07/to-dome-or-not-to-dome-future-of-soldier-field-under-debate/

Notably two of the three options include retrofitting a dome on the open-air stadium (among other upgrades) at a cost of $900 million to $2.2 billion.

 

Yikes!  Anyone in Chicago understand that nature intended Da Berrs to play in the harshest elements they get there?  Why not leave poor old Soldier Field in the memory books as the grand, historic structure it once was and stop with the tacky additions? The last expansion was mostly awful but justifiably updated the public spaces.  These renderings look like they'd just be piling garbage on it.  And you can imagine how much they'll fleece the city for it.  Chicago has enough problems at this point.  We all know the NFL is an arms race, but if the Bears of all organizations are threatening to leave downtown, then they should (but won't) tell them, "Don't let the door hitcha where the good lawd splitcha." Knowing what we do about Chicago politics, I expect they'll add to that $6.5 billion subsidy courtesy of the taxpayers. 

[markhollin]

Venue Solutions Group has been chosen to conduct an independent study of Metro Nashville’s obligation to the Tennessee Titans under Nissan Stadium’s current lease, announced Tom Cross, Metro deputy director of law.

The Sports Authority was allocated $200,000 for the study in this year’s Metro budget. The usual process is to issue request for proposals, consider responses and make a selection.

This process would delay the stadium deal too long, as costs of labor and materials continue to rise.

Venue Solutions Group was selected because they already have familiarity with Nissan Stadium when they conducted the original study in 2017, identifying costs of renovations to be $293.2 million. 

Cross said the city will be under contract with the group next week and Venue Solutions Group has proposed a 14-week turn around. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/07/26/metro-identifies-venue-solutions-group-to-conduct.html

[Bos2Nash]

Quote

The Sports Authority was allocated $200,000 for the study in this year’s Metro budget. The usual process is to issue request for proposals, consider responses and make a selection, Cross said.

This process would delay the stadium deal too long, as costs of labor and materials continue to rise.

I understand the value of having the information from previous evaluations, but this is not a process that should be rushed. The stadium construction is still a long ways out, so referencing cost of material and labor is a little iffy in my book. 

Quote

The cost of the study itself has also risen by a minimum of $50,000, Cross said. Additional costs could come from Venue Solutions Group's analysis of other stadiums to compare Nissan Stadium to.

So the company was selected based on the idea that they have familiarity with the systems and components in place (which one would think was to save money) and yet it is still costing an extra $50,000? $250,000 is a lot of money to repeat a process on a building that hasn't changed much since 2018. I wonder what a bid situation would've produced from a cost perspective.

Quote

Private funding from team ownership and the NFL is currently at $700 million, however Nihill said this number is subject to grow as inflation drives costs.

So either the Titans haven't gotten an indication from the NFL Stadium Fund as to how much will be contributed or the Adams family doesn't have as much money as they have been saying. I believe last I had heard, the Adams family themselves were going to put up $700 million and then the NFL Stadium Fund could contribute up to $150 to $200 million additional funds (the Buffalo Bills received $200 million from the NFL).

[markhollin]

Titan's CEO Burke Nihill responds to  "the 5 most asked questions" in regards to the new stadium plan:

1) Will tailgating be off-limits when lots A, B and C are covered with a new stadium?

2) What are The Titans doing about lack of transportation options and affordable housing downtown?

3) Will this make parking more congested? 

4) Will taxpayers be on the hook for this?

5) What community benefits will this bring?

See answers at The Tennessean here:

https://www.tennessean.com/story/news/2022/08/09/five-most-asked-questions-nashvilles-new-football-stadium/10271388002/


Another interview with Nihill on similar questions at NBJ:

https://www.bizjournals.com/nashville/news/2022/08/09/nihill-stadium-public-qna.html

[Bos2Nash]

Cannot read the Tennessean article. What is Nihill's answers? The NBJ article quotes him as basically saying transportation is on the city, we aren't really involved there. I also got a solid chuckle out of him saying fans will be parking at Oracle and riding the bus down. I'd be curious if any parking at Oracle will even be public parking.

[samsonh]

6 hours ago, Bos2Nash said:

Cannot read the Tennessean article. What is Nihill's answers? The NBJ article quotes him as basically saying transportation is on the city, we aren't really involved there. I also got a solid chuckle out of him saying fans will be parking at Oracle and riding the bus down. I'd be curious if any parking at Oracle will even be public parking.

Yeah he’s doing a pretty poor job at spokesman on this whole deal. Unfortunately the Tennessean is not holding his feet to the fire at all.

[Rick Dalton]

Nihill is sharp 

[markhollin]

15 hours ago, Bos2Nash said:

Cannot read the Tennessean article. What is Nihill's answers? The NBJ article quotes him as basically saying transportation is on the city, we aren't really involved there. I also got a solid chuckle out of him saying fans will be parking at Oracle and riding the bus down. I'd be curious if any parking at Oracle will even be public parking.

1) The proposed new stadium is expected to be built directly east of Nissan Stadium, which will be demolished after the new venue is up and running. It cover parking lots A, B and C, officials said, reducing available tailgating space. 

"I would ask you to think differently about it," Nihill said. "There will certainly be some places to do the traditional tailgating experience. We're thinking about unique experiences like the 'Ole Miss Grove' experience of tailgating. It's something that will be unique to Nashville and the NFL, that could be a really great celebration of football before a game."

2) Metro Nashville planning officials are working with the Tennessee Department of Transportation to recreate the roads and highways crossing East Nashville near the river. 

A new north-south boulevard parallel to Dickerson Road is being planned. It will travel behind the stadium and north past Oracle Corp.'s campus, connecting to highways. The wide road will have bike and pedestrian access and park access.

"It is a large part of the city's intention to use this property as a catalyst for transportation solution of some sort through the spine road. It's a start," Nihill said. "There is a 1996 (Nissan Stadium) lease that is creating financial strain for the city today (because of Metro's obligation to maintain the 20-acre site). The opportunity here is for the city to have that liability forgiven. At the same time, we're creating general funds that wouldn't otherwise exist without firing up that property and creating meaningful new property tax and development returns that can be invested in affordable housing, education and sidewalks.

"There's a win-win-win across the board. There just isn't a catch. It's an opportunity to serve the community as a whole."

3) The Titans hope to use shuttles and a variety of new transportation options to move stadium visitors around more efficiently, Nihill said. 

The team is in talks with neighbors Oracle Corp. about using their parking garages during weekend stadium events, Nihill said. 

"There's also been conversations about the water. There's an opportunity for an improved experience," Nihill said.  "The plan is a total paradigm shift. We're trying to think creatively and think more about transportation generally." 

4) "This new financial structure would be to remove the Nashville general fund from the stadium financing equation now and forever," Nihill said. "It would allow Metro to take back the land and begin to generate meaningful revenue. There's no shortage of developers who'd be very happy to develop on that land."

The structure of the deal will be described in more detail later this year officials, said. 

But the state already promised a $500 million loan to fund a new Nashville stadium on the condition that it is enclosed with a roof. The state also set aside 50% of future sales taxes in and around the stadium to repay the loan. A 1% hotel tax will also be used to pay off construction debt. 

"There are many cities and stadium that have private- public partnerships," Nihill said. "What I think is unique to this situation is the city, stadium and team identify this unique challenge and are flipping it into a great opportunity. I really have not ever seen anything quite like this."

5)  Oracle Corp. has promised to build a pedestrian bridge connecting downtown with the east bank near the stadium. Meanwhile, new infrastructure and transportation is being laid out to allow for major development of the riverfront. 

Metro officials said they would continue to own more than 100 acres of land at the site, leasing it to developers in order to maintain some control over what's built. 

"This is a blank canvas," Nihill said. "We have this opportunity, and we are asking: What would be the best greenspace to be celebrated for generations? What about transit and multimodal parkways? The city is looking how to leverage the possibilities for art and culture. The public wants things to do."

 

[samsonh]

3 hours ago, markhollin said:

1) The proposed new stadium is expected to be built directly east of Nissan Stadium, which will be demolished after the new venue is up and running. It cover parking lots A, B and C, officials said, reducing available tailgating space. 

"I would ask you to think differently about it," Nihill said. "There will certainly be some places to do the traditional tailgating experience. We're thinking about unique experiences like the 'Ole Miss Grove' experience of tailgating. It's something that will be unique to Nashville and the NFL, that could be a really great celebration of football before a game."

2) Metro Nashville planning officials are working with the Tennessee Department of Transportation to recreate the roads and highways crossing East Nashville near the river. 

A new north-south boulevard parallel to Dickerson Road is being planned. It will travel behind the stadium and north past Oracle Corp.'s campus, connecting to highways. The wide road will have bike and pedestrian access and park access.

"It is a large part of the city's intention to use this property as a catalyst for transportation solution of some sort through the spine road. It's a start," Nihill said. "There is a 1996 (Nissan Stadium) lease that is creating financial strain for the city today (because of Metro's obligation to maintain the 20-acre site). The opportunity here is for the city to have that liability forgiven. At the same time, we're creating general funds that wouldn't otherwise exist without firing up that property and creating meaningful new property tax and development returns that can be invested in affordable housing, education and sidewalks.

"There's a win-win-win across the board. There just isn't a catch. It's an opportunity to serve the community as a whole."

3) The Titans hope to use shuttles and a variety of new transportation options to move stadium visitors around more efficiently, Nihill said. 

The team is in talks with neighbors Oracle Corp. about using their parking garages during weekend stadium events, Nihill said. 

"There's also been conversations about the water. There's an opportunity for an improved experience," Nihill said.  "The plan is a total paradigm shift. We're trying to think creatively and think more about transportation generally." 

4) "This new financial structure would be to remove the Nashville general fund from the stadium financing equation now and forever," Nihill said. "It would allow Metro to take back the land and begin to generate meaningful revenue. There's no shortage of developers who'd be very happy to develop on that land."

The structure of the deal will be described in more detail later this year officials, said. 

But the state already promised a $500 million loan to fund a new Nashville stadium on the condition that it is enclosed with a roof. The state also set aside 50% of future sales taxes in and around the stadium to repay the loan. A 1% hotel tax will also be used to pay off construction debt. 

"There are many cities and stadium that have private- public partnerships," Nihill said. "What I think is unique to this situation is the city, stadium and team identify this unique challenge and are flipping it into a great opportunity. I really have not ever seen anything quite like this."

5)  Oracle Corp. has promised to build a pedestrian bridge connecting downtown with the east bank near the stadium. Meanwhile, new infrastructure and transportation is being laid out to allow for major development of the riverfront. 

Metro officials said they would continue to own more than 100 acres of land at the site, leasing it to developers in order to maintain some control over what's built. 

"This is a blank canvas," Nihill said. "We have this opportunity, and we are asking: What would be the best greenspace to be celebrated for generations? What about transit and multimodal parkways? The city is looking how to leverage the possibilities for art and culture. The public wants things to do."

 

Every answer is a non answer. There is no plan after the stadium gets built. Very concerning that the payoff of the debt relies on building a thriving mixed use area and there are exactly zero details and just “conversations”. Very disappointing all around.

[Luvemtall]

2 hours ago, samsonh said:

Every answer is a non answer. There is no plan after the stadium gets built. Very concerning that the payoff of the debt relies on building a thriving mixed use area and there are exactly zero details and just “conversations”. Very disappointing all around.

It could very well be, that they ( Metro,State,titans) have developers and a “plan” in place . Just not able to go public yet, for a lot of reasons. Most of the time big developments, go under wraps until just before they are ready to move forward and start . 

[lmc123]

43 minutes ago, Luvemtall said:

It could very well be, that they ( Metro,State,titans) have developers and a “plan” in place . Just not able to go public yet, for a lot of reasons. Most of the time big developments, go under wraps until just before they are ready to move forward and start . 

If that is the case, why would they announce the developers who would occupy the land once the current stadium is demolished in 2026? Seems way too early to announce something when the stadium and land isn't capable for buildout until a new stadium is built.

[titanhog]

I just wish we had control of the scrapyard land.  Then…we could pretty much fully implement a build-out of the entire east bank between the river and the interstate.  Bring in a bunch of developers and divide everything up into sections and get it built.

[Melrose]

7 hours ago, samsonh said:

There is no plan after the stadium gets built

Well, there is a plan,  the Adams family will sell the team within 2-3 years, once the team value is juiced thanks to the new stadium. This is 10000% their plan.   

That former Alliance Bernstein CEO's open letter proposing that  the city should get a big chunk of the team value increase thanks to the stadium  if/when the family sells,  is a great idea.  

[samsonh]

5 hours ago, Luvemtall said:

It could very well be, that they ( Metro,State,titans) have developers and a “plan” in place . Just not able to go public yet, for a lot of reasons. Most of the time big developments, go under wraps until just before they are ready to move forward and start . 

They are spending public money. No reason to keep any development private. In fact, to garner support you would want plans public. But crickets….

[titanhog]

9 hours ago, samsonh said:

They are spending public money. No reason to keep any development private. In fact, to garner support you would want plans public. But crickets….

I'm really thinking they (the city and the team) were banking on getting that World Cup host site to push through a quick new stadium without having to go through the proper process.  They would just use the “we have to do this now to be a host site” excuse to push it through.  However…they actually muddied the water by bringing up a new stadium and the possibility it would be done by the time the World Cup was here, which seemed to have scared the WC guys off.

Now…the city and team have to come to the public table and sell this monster.  I’m sure they’re slow-playing it and trying to figure out a way to present this.  Not going to be the easiest thing for them to do.

Edited August 12, 2022 by titanhog

[samsonh]

7 hours ago, titanhog said:

I'm really thinking they (the city and the team) were banking on getting that World Cup host site to push through a quick new stadium without having to go through the proper process.  They would just use the “we have to do this now to be a host site” excuse to push it through.  However…they actually muddied the water by bringing up a new stadium and the possibility it would be done by the time the World Cup was here, which seemed to have scared the WC guys off.

Now…the city and team have to come to the public table and sell this monster.  I’m sure they’re slow-playing it and trying to figure out a way to present this.  Not going to be the easiest thing for them to do.

Completely agreed. They were hoping it would skate through. Needs to be a lot of due diligence done on this, not just a couple community meetings. I say this as a huge titans fan.

[smeagolsfree]

Next Titan stadium meeting.....................

 

Metropolitan Council East Bank Stadium Committee Meeting, August 30, 2022

Details

Status

This is an upcoming meeting.

Date

August 30, 2022

Time

4:30 p.m.

Meeting Type

East Bank Stadium Committee

Details

The East Bank Stadium Committee will lead the Metro Council's efforts to gather information related to any potential legislation concerning the East Bank stadium and related infrastructure.

Members of the public may view the meeting live online at stream.nashville.gov via the Metro Nashville Network, Metro Nashville Network 2, and Metro Nashville and Davidson County residents can watch Metro Nashville Network on Comcast channel 3, AT&T Uverse channel 99, and streaming on the Metro Nashville Network Roku channel for meetings available on all Metro Nashville Network platforms.

[nashvylle]

Timing for next titans / metro update:

 

[nashvylle]

Existing Titans lease makes it very hard for Metro to develop land around Cumberland River, and a vote from council on new Titans stadium could come in early November. 

https://www.bizjournals.com/nashville/news/2022/08/30/tennessee-titans-stadium-east-bank-parking.html

https://fox17.com/news/local/vote-on-new-titans-stadium-proposal-as-soon-as-november-sports-football-tennessee-infrastructure-super-bowl-team

 

 

Edited August 31, 2022 by nashvylle

[Melrose]

1 hour ago, nashvylle said:

Existing Titans lease makes it very hard for Metro to develop land around Cumberland River, and a vote from council on new Titans stadium could come in early November. 

https://www.bizjournals.com/nashville/news/2022/08/30/tennessee-titans-stadium-east-bank-parking.html

https://fox17.com/news/local/vote-on-new-titans-stadium-proposal-as-soon-as-november-sports-football-tennessee-infrastructure-super-bowl-team

 

 

Wait, I thought the East Bank development was not dependent on or related to  the Stadium?   The Mayor really needs to make up his mind on how he is going to sell this.....

[titanhog]

4 hours ago, nashvylle said:

Existing Titans lease makes it very hard for Metro to develop land around Cumberland River, and a vote from council on new Titans stadium could come in early November. 

https://www.bizjournals.com/nashville/news/2022/08/30/tennessee-titans-stadium-east-bank-parking.html

https://fox17.com/news/local/vote-on-new-titans-stadium-proposal-as-soon-as-november-sports-football-tennessee-infrastructure-super-bowl-team

 

 

I feel like that price tag just slowly keeps increasing.  $2.2 Billion now.  I have a feeling that if they build it, it will come in closer to $3 Billion by the time it’s completed.

[markhollin]

The end of November is the earliest Metro Council might vote on what to do with the Tennessee Titans stadium, according to the at-large council member who chairs its East Bank Stadium Committee.

That's the assessment of Councilman Bob Mendes, who disclosed a series of notable upcoming public meetings at the stadium committee's Aug. 30 meeting.

The first of those dates to circle is Sept. 14, which is when Mayor John Cooper's administration and Titans executives are scheduled to appear before the committee.

Mendes said the seven member council committee will hold some community meetings in the fall, after terms of the deal become public.

Among other upcoming committee meetings to watch:

1) On Sept. 28, the group will hear an initial analysis of the Titans proposal from the council's attorney, Margaret Darby. Mendes also said he's assembling a roster of speakers to discuss the "economic impact of stadiums" at that meeting.

2) Mendes said the Titans have requested to return to the committee to discuss stadium design and benefits and amenities they'll pledge to the broader community as part of a deal for a new stadium. That meeting is set for Oct. 5.

"I think the earliest time we'd be asked to make a substantive vote, I think, is the end of November," Mendes told the committee.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/08/31/titans-east-bank-council-committee-vote.html

[smeagolsfree]

I think if the Titans want a stadium they will get their lawyers with the Metro lawyers and figure a way around this issue. Beggars will not be choosy with this issue. If the Titans force this issue which I don’t think they will, the they can kiss any new stadium good bye.

[nashvylle]

5 hours ago, smeagolsfree said:

I think if the Titans want a stadium they will get their lawyers with the Metro lawyers and figure a way around this issue. Beggars will not be choosy with this issue. If the Titans force this issue which I don’t think they will, the they can kiss any new stadium good bye.

Which issue- allowing metro to develop land around the stadium? 

[smeagolsfree]

The parking issue discussed in the NBJ article.

The lease spells out eight conditions. The most significant is that Metro must either:

• provide the Titans with a replacement lot with the same number of spaces and that is, "in all material respects, as useful and functional" as the lot chosen for development. The replacement lot must be located adjacent to the stadium site or immediately across the street, but not on the other side of Interstate 65.
• or, Metro can build a parking garage not more than three stories tall — in a location that has to receive approval from the team.

The boundaries of the first scenario would almost certainly require Metro to buy or lease land, and the enduring demand for urban Nashville real estate is driving up those prices. Those options appear very limited, and may be as few as two — either part of the decades-old scrapyard site that billionaire Carl Icahn owns, or a city block owned partly by longtime hotel developer Ray Dayal and partly by developer Don Allen (whose Monroe Investment Partners is best known for the River North site on the East Bank, much of which Oracle purchased last year).

A parking garage, built above-ground, would cost between $32,000 to $42,000 per parking space, according to estimates from JE Dunn Construction Co. That's if the garage was above-ground with a mixed-use building on top. The cost could drop 15% or more if Metro built just a parking garage. (Below-ground garages are even more expensive).

Take Lot E, where Cooper held his press conference. It contains 380 parking spaces. At those construction prices, Metro could be spending about $12 million to $16 million to build a parking garage. Under the lease, the Titans receive all parking revenue.

 

Among other conditions, the lease also says:

• 4,000 surface-lot parking spaces must be available at all times (there are close to 7,500 today);
• The development lot must be "approximately in the shape of a rectangle;"
• Whatever is built must not involve gambling and must not be "likely to result in a nuisance to the facilities (whether due to noise, light, odor, other emissions or aesthetics)";
• Whatever is built "shall be compatible with the first class condition of the facilities," a broadly defined term that is at the center of the ongoing debate over the stadium's condition.

Titans spokeswoman Kate Guerra called the development potential of any piece of the stadium site "extremely restricted" under the current lease.

"It goes without saying that parking lots that sit empty for the majority of the year generate limited value for our community," Guerra said in a statement. "Our hope would be that under a new lease, much of the land currently restricted to parking lots could be returned to Metro to develop in more meaningful ways that not only better serve Nashville in their function, but also collect significant revenue that could be reinvested to address our city’s key priorities."

The Business Journal asked if the team would be open to amending the existing lease to allow parking lots to be more easily developed.

"We're focused on long-term solutions to the challenges of the stadium's current lease, which places an incredible burden directly on the backs of Nashville’s general taxpayers," Guerra said. "We’re grateful for Metro’s collaboration, and look forward to continuing our conversations to remove that burden once and for all."

 

A potential stadium proposal could go before Metro Council later this fall. Among the unsettled matters is an ongoing independent study of Metro's financial obligation under the current lease. The Titans, in consultation with two global construction companies, estimate that Metro taxpayers could have to spend $1.8 billion to renovate and maintain the existing stadium through the maximum length of the lease.