Sounds ballpark plan nearly triples size
Monday, June 20th, 2005By Craig Boerner, cboerner@nashvillecitypaper.com
June 17, 2005
The Nashville Sounds’ $80 million proposal for a downtown ballpark with accompanying residential and retail has nearly tripled into a $230 million development that includes 600 residential units, 125 of which would be affordable housing.
Baltimore-based Struever Bros., Eccles & Rouse has increased its investment significantly since December 2003 when the project was $80 million and 225 residential units.
A sticking point in negotiations over the ballpark was tax increment financing. Points of disagreement have centered around the city’s contribution of the former Thermal site and whether $20 million in tax increment financing needed to make the deal work includes that land value. Expanding the scope of the project helps make the numbers work.
Alex Washburn of New York-based W Architecture, who is working with Struever on a master plan for the downtown development, participated in a five-member panel discussion Thursday at the Nashville Civic Design Center.
“The great thing about it is it has this mix of all of these pieces and attractions,” Washburn said.
“And the fact that it is on the water … it doesn’t happen very often that you get people together where the good idea actually has market forces behind it and these other players, community groups.”
Other members of the panel discussion focusing on downtown’s relationship to the Cumberland River included Sounds General Manager Glenn Yaeger, MDHA Executive Director Phil Ryan, Tom Turner of the Nashville Downtown Partnership and Burdell Campbell, who focused on the Cumberland River Compact.
“The developer just came on line late last year and that’s when we started talking about possibly more retail and affordable [housing] part,” Ryan said.
“The developer, I think, likes a big project with a lot of synergy, energy.”
Washburn focused his discussion on the ballpark’s relationship to both the river and a vibrant downtown area, saying Nashville will be the first city where a ballpark is located adjacent to a greenway.
The transition from a bustling entertainment district will occur through the ballpark and into the greenway and edge of a tremendous natural setting.
Washburn said the Sounds franchise is one of few that has been “foresighted enough to realize they didn’t have to sit in a parking lot” with their new facility, adding that the ballpark will make a “world class transition” from nature to the urban edge.
“The double bottom line is a way of accounting both the market success and community benefits,” Washburn said.
“It means being able to assess how much park land have you added, how many jobs have you made for local people, how many people have you trained out of the community to work with you, how much affordable housing, how much luxury housing, how much retail is national tenants, how much retail is mom and pop.”