The city's Downtown Development Authority has estimated it will cost $210 million to build a conference center, a performing arts theater, a hotel and accompanying retail, as well as a parking garage, on the property. The council flew to Kingsport, TN to the MeadowView Marriott Conference Resort and Convention Center, and to Rosemont, IL to view the Rosemont Convention Center. Both centers are very large, and offer many rooms for conventions and theater events.
Council members will most likely discuss their trip at their next meeting July 23. Mayor Matt Pryor says it will probably take eight months to make a decision about the property.
A children's museum and an IMAX theater have already dropped plans to build on the site, after a newly elected council, including Pryor, indicated its distaste for the two projects.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
