The Columbus City Council voted Monday night on the final passage of a plan for a new Columbus Crew arena and the redevelopment of MAPFRE Stadium.
The measure commits $50 million in city funding to help develop the new site. None of the money will be used to pay for the stadium itself, but rather for surrounding infrastructure and possibly land acquisition.
Franklin County commissioners vote on their portion of the agreement Tuesday, which would contribute $2.5 million annually for 30 years. That money will be used to secure $45 million worth of loans.
All told, the project is expected to cost $140 million in public funding. The agreement requires the developer to match the amount in private dollars.
Under a plan agreed upon by the city and Haslam Sports Group, which bought the Crew in December, the stadium would be located in the Arena District just west of Huntington Park. Built around the 430,000-sq.-ft. stadium would be Confluence Village, a mixed-use development that also includes business and residential space.
Investors said last month that Nationwide Reality has not yet sold the land to the Haslam Sports Group, but expect to finalize that purchase within "the next couple of weeks." Under a plan agreed upon by the city and Haslam Sports Group, which bought the Crew in December, the stadium would be located in the Arena District just west of Huntington Park. Built around the 430,000 sq. ft. stadium would be the Confluence Village development, which will also include business and residential space.
Investors said last month that Nationwide Reality has not yet sold the land to the Haslam Sports Group, but expect to finalize that purchase within "the next couple of weeks." Team owners hope to open the new stadium in July 2021.
Columbus officials also want to convert MAPFRE Stadium into a sports park and training facility for the Crew, with a price tag of around $100 million. No timeline has been released yet for that project.
