Timeline
Decades of Decline Yield a Moment of Renewal.
“Wheland Foundry Closes
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“U.S. Pipe Closes
The storied site begins 20 years of decline and decay, blighting the westward gateway to Chattanooga. Instead of being a valuable part of the South Broad community, the site sits unused and causes the immediate surrounding community to suffer.”
“First Studies Conducted
Because of its unique location, the site is quickly recognized by both public and private entities to have enormous positive potential for Chattanooga.”
“Redevelopment is Imagined
By 2015, Perimeter Properties had purchased the land and hired Jones Lang LaSalle, one of the world’s largest real estate firms, to do an extensive study of the site as well as market the property to potential developers. Over many years, would-be purchasers of the site were interested in building out only parts of the site for projects such as an outlet mall or a big-box retailer – but Perimeter Properties always wanted to develop the site into something truly spectacular for the good of our community.
It was also in 2015 when the Chattanooga Lookouts first expressed interest in a long-term development partnership with the City and County on a stadium like those that have been successful in numerous other cities, including Columbia, SC, and Fort Wayne, IN, where the Lookouts’ managing owner has led similar projects.
In August of 2015, County Mayor Coppinger and then-City Mayor Berke travel to Fort Wayne to see a mixed-use stadium built by a public-private partnership involving the Lookouts managing owner. Mayors Coppinger and Berke agree that Chattanooga could benefit from a similar investment and begin considering the Foundry/Pipe site as the prime location.
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“Partners Begin Discussions
The Chattanooga Lookouts, Perimeter Properties, the City of Chattanooga, and Hamilton County begin sharing ideas for how the site could be redeveloped if it were to be catalyzed and anchored by a mixed-use stadium. The leadership of Perimeter Properties visit a stadium in Columbia, SC, where the Lookouts managing owner, its master development partner, and the local municipality are redeveloping a 181-acre property with historic buildings on the edge of that city’s downtown into a beautiful stadium/outdoor multi-use event venue.”
“South Broad District Study
The Chattanooga Design Studio begins a planning study of the South Broad District, which includes more than 400 acres just south of downtown Chattanooga. The South Broad District Study developed “a realistic, long-term vision for the revitalization of the district” through a public-participatory planning process that involved more than 200 community members, including several local community and faith groups.
Among its many findings, the study recommended that a new minor league stadium at the site would catalyze the area’s redevelopment, helping the neighborhood to improve and greatly increase tax revenue that could be used for roads and schools. The study is endorsed by Mayors Coppinger and Berke, recommended by the Chattanooga-Hamilton County Regional Planning Commission (Feb 26, 2018), and adopted by the City Council (April 10, 2018).
Mayor Coppinger: “This report will help guide elected leaders to make the right decisions for progress within the South Broad District. This is not about one business or one person, but about a community effort to spur many advancements in the cultural, economic, and business capacities.”
Mayor Berke: “The art of city-building relies upon the individual and collective efforts of many diverse citizens in order to support and contribute to a greater vision. It is my hope to provide a legacy for the district that will frame decisions for the future and it’s my opinion this report provides the vision to do so.””
“Discussions Progress
Negotiations continue and site visits are held with multiple significant development firms to find the ideal master developer. The clear goal for all partners is to use a new stadium to jumpstart the South Broad District’s redevelopment.”
“COVID-19 Delay
The City and County justifiably focus attention on dealing with the pandemic, temporarily pausing progress on redeveloping the site. As the pandemic abated, discussions resume between Mayor Coppinger, newly elected Mayor Kelly, Perimeter Properties, and the Lookouts.”
“Engagement with Tennessee Legislative Leadership
Agreement on the broad deal parameters comes into focus. The City and County begin discussions with the state legislative delegation and the Governor’s office to determine the availability of state incentives and benefits (based on the knowledge of state participation in the financing of a similar new ballpark in Knoxville). Once the level and amount of state participation were determined, City and County staff worked with outside consultants to develop a financial model and structure for a deal.”
“Further Diligence by Elected Officials and Media
Elected officials, City and County staff members, local business leaders, and members of the media visit Columbia, SC, to tour that city’s new stadium and adjacent ongoing development projects and meet with Mayor Steve Benjamin, Columbia’s mayor for 12 years who spearheaded that ballpark project alongside the Lookouts’ managing owner.”
“Economic Impact Study Completed
CSL International, a leading advisory and planning firm, produces a tax revenue and economic impact assessment for a new multi-use stadium for the Chattanooga Chamber of Commerce. The study finds that the proposed redevelopment, especially a mixed-use stadium, would have a significant positive impact for the economy of Chattanooga and Hamilton County by creating jobs and increasing tax revenue which can be used for schools and for other public benefits.Learn About The Economic Impact Here
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“Master Developer Selected
At the request of the City and County, the property owners attract and select a world-class master developer, New City Properties, led by Jim Irwin. New City develops a site plan, will perform some of the development, and will hire other high-quality partners with specific specialties to execute specific elements of the master plan in a very timely fashion.”
“Vision Announced
With the team and all the agreements in place, the City and County jointly announces on June 30, 2022, that they will seek approvals from City Council and County Commission to form a Sports Authority and create a tax increment finance (“TIF”) district that will provide the revenue to service the majority of the cost to build the stadium.”
“Hamilton County Commission Approves Plan
An overwhelming majority of Hamilton County Commissioners (8-1) voted to approve the plans for the revitalization of the South Broad District.”
“Chattanooga City Council Unanimously Approves Plan
Every single member of the City Council voted in favor of the plan to revitalize the South Broad District. City Council members, who had thoroughly studied the proposal, thanked Mayor Kelly and his staff for their outstanding job putting together this good deal for our region. ”