Lincoln's groundbreaking took place in June 2001. Los Angeles-based NBBJ Sport designed the venue, which was constructed by a JV partnership among Turner Construction Group, based in Cleveland; locally based Keating, and Washington, DC-based McKissack & McKissack. Locally based Ewing Cole Cherry Brott and the sport division of Kansas City-based HOK collaborated as architects of the ballpark. Construction is a JV between locally based L.F. Driscoll and the Princeton, NJ office of Hunt Construction Group.

The city provided $346 million to fund the complex; the state kicked in another $190 million, and Delaware River Port Authority added $14 million to the effort. The teams themselves also contributed significantly to the funding.

Financial institutions, however, are the MVPs. Lincoln Financial Group will contribute $6.6 million a year for naming rights to the football stadium over 21 years. Citizens' total tally is $95 million over 25 years. Of that, $57.5 million is for naming rights and $37.5 million is to cover the broadcast media package.

Philadelphia Industrial Development Corp. managed the land assembly, negotiated the lease structure with the two teams, directed the legislation needed for construction, arranged for the public funding, and represented the City in overseeing construction.

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
NOT FOR REPRINT

© 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.