KNOXVILLE, Tenn. (WATE) — The Sports Authority will meet for the first time to begin its task of determining what impact the proposed Old City stadium would have and how it would be financed, built and managed.
The seven members of the Sports Authority will discuss the project background, its timeline, and their roles and responsibilities at their meeting on Thursday, May 20.
The sports and entertainment stadium would be built using a mix of private and public funds and be leased by Boyd Sports and the Tennessee Smokies baseball team. The facility would also host non-baseball events including concerts, festivals and other sporting events.
The city’s United Soccer League team could also play its games in the stadium.
If the stadium is determined to be financially viable and economic impact projections are independently verified, then the Sports Authority – with required City and County authorization – ultimately would finance, build and manage the stadium.
As part of a larger redevelopment effort around the stadium, GEM Community Development Group, the private partner to Boyd Sports, is planning to invest more than $100 million to build apartments, condos, restaurants and offices around the ballpark.
GEM has formed a formal partnership with the Knoxville Area Urban League, Beck Cultural Exchange Center, local schools and youth organizations to ensure at least 15% of contractors and subcontractors are from minority and women-owned firms.
Construction could begin as early as this fall and open for community use and events in 2023.
The meeting will be held from 9:30 a.m. to 12:30 p.m. at the Women’s Basketball Hall of Fame, 700 S. Hall of Fame Drive.