As officials move toward a major vote, John Ingram is making the case for a development component in the Nashville MLS stadium project.
Tuesday is when the Nashville Metro Council will vote on a $225 million bonding resolution for the proposed stadium at The Fairgrounds Nashville. Leading up to this vote, several components of the overall project have been debated by local officials, including a plan for mixed-use development on 10 acres near the stadium. As has been proposed, Nashville would enter into a 99-year lease for a development led by the Turner family, founders of MarketStreet Enterprises and minority owners in the Ingram-led MLS expansion group.
If it moves forward, the development would feature several amenities, including affordable and market-rate housing. Some local officials have expressed skepticism of using Fairgrounds land for private development, but Ingram is making the case that it is essential to the project. In a letter sent to vice mayor David Briley and the Metro Council on Friday, Ingram cited the advantaged the development could provide. More from The Tennessean:
“This is an essential part of our proposal in the private/public partnership,” Ingram’s letter reads. “It provides an ability to ensure an amazing fan experience as well as provide amenities that would improve the overall experience and bring additional benefits to the neighborhood.
“Additionally, it provides a revenue source to pay debt service and additional funds for the fairgrounds and the city’s general fund,” he continued. “MLS unequivocally supports a mixed-use environment supporting the stadium and its immediate surrounds.”
Nashville is seeking to be one of the expansion bids selected in an upcoming decision by MLS, which is expected to make an announcement in December.
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