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Knoxville, Tenn. — A public-private partnership between the University of Tennessee and a newly formed development platform comprising Arctos, RVX Ventures and Magellan Development Group will soon begin the development of Neyland Entertainment District, a $280 million mixed-use village surrounding Neyland Stadium, the home football arena of the University of Tennessee. The waterfront development in Knoxville will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences with rooftop space and a private members club.
Arctos is the majority equity investor in the project and is participating as a general partner alongside a sponsor team led by RVX, Magellan and Dixon Greenwood.
The construction timeline was not disclosed, but Knoxville News Sentinel reports that construction is expected to begin this summer and include the overhaul of the G10 parking garage, which is a hub of parking and tailgating on game days. The media outlet also reported that the University of Tennessee System Board of Trustees approved a 99-year lease for the development in early May.
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‘ Some details of this article were extracted from the following source shoppingcenterbusiness.com ’
