The University of Tennessee System Board of Trustees approved the construction of the Neyland Entertainment District and new G10 parking garage on May 4 with the project set to start in summer 2026.
Specifically, UT’s Board of Trustees authorized a 99-year lease for the $280 million Neyland Entertainment District project and the funding of up to $83 million for the new G10 garage through the Tennessee State School Bond Authority.
The mixed-use sports entertainment district will be built between Neyland Stadium and Food City Center. It will include a hybrid condo-hotel overlooking the stadium, a rooftop bar, restaurants, shops, event space and fan experiences.
The Neyland Entertainment District is an ambitious project first announced in 2023 and on the verge of breaking ground. It’s a public-private partnership between UT and 865 Neyland, a team of real estate developers and sports entertainment district experts. They’ve helped create and manage pro sports entertainment districts surrounding stadiums for the Atlanta Braves, St. Louis Cardinals, Dallas Cowboys, Texas Rangers and Philadelphia’s Phillies, Flyers and Eagles.
“This is an asset for 365 days a year and not just 39 days (for football and basketball home games),” UT Chancellor Donde Plowman said during the Board of Trustees meeting. “We are going to be pursuing public-private partnerships in almost everything we try to do going forward to move the university to the next level. This is one very bold and dramatic opportunity.”
Who pays for Neyland Entertainment District?
UT will enter into a 99-year lease with 865 Neyland developer. The developer will finance, own, manage and maintain the entertainment district. The $280 million cost includes $215 million for the construction of the condo hotel and $65 million for the entertainment district.
The developer will pay UT an annual base rent of $1.5 million, plus between 3-5% of gross operating revenue from the condo-hotel and entertainment space. UT will have the option to purchase the entertainment district after 40 years and the hotel after 50 years.
UT will finance, own and operate the new G10 parking garage, but it will be constructed by a parking developer. The university will finance an estimated $83 million to build the parking garage, and it will pay approximately $700,000 in fees to the parking developer.
When Neyland Entertainment District will open
Demolition of the G10 parking garage is set to begin in July. According to project documents presented to the UT Board of Trustees, the new G10 garage must be completed by August 2027.
Athletics director Danny White said UT is on track to open the entertainment district in early 2028 and the condo-hotel in 2029. UT plans to break ground in summer 2026, beginning with the demolition of two-thirds of the G10 garage.
What happens to G10 parking garage, tailgating spot
UT must tear down two-thirds of the G10 garage and rebuild it to ensure the structural integrity for the hotel on top. That could temporarily displace thousands of students during the week and fans on gamedays during the 2026-27 academic year.
According to the sign at the garage, it currently has approximately 1,800 spaces. The project proposal calls for approximately 1,316 parking spaces to replace the eastern portion of the parking deck. But the project hasn’t broken ground yet, and White said, ultimately, the new G10 garage will be bigger and better than the old one.
Once completed, the condo-hotel will have 214 parking spaces in a garage separate from G10.
David Miller, UT System Vice President and Chief Financial Officer, said the university will purchase a nearby area for additional parking and provide transportation for fans parking there while the G10 garage is being rebuilt.
UT spokesman Jason Baum said the athletic department has discussed alternative options with the university throughout the development of the project. A finalized plan will be announced at a later date.
Many longtime fans and boosters park at G10 garage, located a few feet from the south end of Neyland Stadium. The top level is considered a premier parking area, and the entire structure has been a favorite tailgating spot for fans for many years.
Size, number of rooms at condo-hotel property
The condo-hotel property will cover 440,000 square feet, including 5,000 square feet for university use. It will include 180 hotel rooms, 30 hotel-condo units, 50 luxury condo units and a rooftop bar overlooking Neyland Stadium.
Here are more details of the condo-hotel property:
- 10,000 square feet of restaurants
- 10,000 square feet of meeting and event space
- 5,000 square feet of dedicated university space
- Resort style swimming pool
- More than 220 parking spaces
Details, size of entertainment district
The entertainment district proposal includes 110,000 square feet of indoor and outdoor space. Here are the details of that portion of the development:
- 60,000 square feet of exterior plazas
- 50,000 square feet of interior restaurants
- 7,000-person total capacity (4,000 outdoor for concerts + 3,000 indoor)
- Enhanced G10 plaza and student entry
- Path to Neyland Stadium from entertainment district
Adam Sparks is the Tennessee football beat reporter. Email [email protected]. X, formerly known as Twitter@AdamSparks. Support strong local journalism by subscribing at knoxnews.com/subscribe.
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