A group of Charlotte business leaders publicly unveiled a
plan for an uptown sports and entertainment district yesterday,
according to Ky Henderson of the CHARLOTTE OBSERVER. The
proposal includes a new home for the Hornets, a block of
restaurants and shops, and "possibly" a baseball stadium. The
group "emphasized" that three-fourths of the money would come
from the private sector and touted economic benefits which
included the Hornets paying for rights to the arena, $4.9M a year
in new tax revenues for the city and an added draw for
conventions. NationsBank Exec VP Ed Brown said that a "catalyst"
of the proposal was to keep the Hornets in Charlotte. Much of
the money would come from the Hornets, banks and businesses, but
taxpayers would have to pay $46.5M in the "least expensive"
scenario. In one cost scenario, the Hornets would pay $108.5M
toward the projected $181M arena (CHARLOTTE OBSERVER, 11/12).
Dan Chapman of the OBSERVER notes the "least expensive option"
would cost $218M, with construction costs for a new 21,500-seat
arena being $155M including land. A retail end would cost $37M,
while NationsBank would build a $27M parking garage. The "most
ambitious project" would cost $477.5M and could include a
baseball stadium (CHARLOTTE OBSERVER, 11/12).
BASEBALL IN CAROLINA? If an MLB team agreed to move to
Charlotte, a 42,500-seat uptown baseball park would be built.
Modeled after Camden Yards in Baltimore, it would include 5,000
club seats and 100 luxury suites. With land, the stadium's cost
would be $203M, with taxpayers asked to fund "at least" $37M
(CHARLOTTE OBSERVER, 11/12).
HORNETS' HARDBALL: There are strong "inferences" the
Hornets may relocate if they don't get a new building, according
to Erik Spanberg of the BUSINESS JOURNAL OF CHARLOTTE. Charlotte
Mayor Pro Tem Al Rousso: "I would hate to see the Hornets go.
But if it's going to take tax dollars to keep them here, goodbye
Charlotte Hornets" (BUSINESS JOURNAL OF CHARLOTTE, 11/11).
