Sports Complex, Hotel Near Bojangles Coliseum On Hold For Now
The city’s plan to create an amateur sports complex and hotel near Bojangles’ Coliseum is on hold as the private developer hasn’t yet been able to secure financing, according to emails sent to the city.
For nearly a year, Florida-based GoodSports Enterprises Global has been negotiating with the city to build a hotel and gymnasium in the parking lot near the coliseum and Ovens Auditorium.
During that time, the public’s share of the project has increased and is now nearly half of all construction costs, according to a review of city documents. The latest proposal is for GoodSports to put in less money than it previously proposed, according to a city briefing from this summer.
In April, the city said the financing plan called for city to spend $25 million and the Charlotte Regional Visitors Authority to contribute $12 million, which would go to renovate the coliseum. GoodSports would spend $60 million, or 62 percent of the project’s costs.
In June, the plan changed. The total amount of public money stayed the same, but its share of the project increased to 48 percent as GoodSports proposed spending $39.7 million, down from $60 million in April.
The city hopes the hotel and field house will help the city increase the number of amateur sports tournaments that come to Charlotte, bringing families and injecting money into the economy. The goal is for the new 150-room hotel and adjacent field house to improve the surrounding neighborhoods.
The field house would be used for sports such as basketball, bowling, volleyball and fencing.
The city hoped to have an agreement ready by the spring of 2014. The city said Tuesday that it’s confident the project will move forward, though the uniqueness of building a sports complex combined with a hotel is likely making financing difficult.
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Source: Charlotte Observer