Soccer in Nashville

[nashvylle]

17 minutes ago, Bos2Nash said:

I mentioned this on the neighborhood thread as a viable option. Unfortunately Formosa does not have the resources and SMI won't invest much without a public/private relationship. Creating a new entrance would be great, working it around the parking concerns, new buildings and new expo buildings would probably call for a re-invention of the fan experience all around the speedway and probably infield. Thats alot of money.

To put it in perspective, Daytona International Speedway just re did their fan experience and grandstand entry points and it cost them $400 million. ISM (Pheonix) Raceway just completed a renovation of grandstands, moving the start finish line and infield redo and that cost them $178 million. The closest project in speedway size is the Colossus transformation that Bristol just underwent a couple years ago where they constructed some massive pylons to create a floating video screen (4 actually) and a massive sound system that has a speaker no more than 90 feet from each of the 100,000+ fans that are in the speedway.

I believe you said you were an architect, correct? Do you know who is working on the 10 acre development from the architect side? I imagine adjusting the apartment building closest to the track so that an emergency vehicle can go in is possible.

The good news RE your investment concerns is this area is in an "Opportunity Zone", which greatly incentivizes people to make investments such as what you are detailing. 

[Rockatansky]

21 hours ago, e-dub said:

Queen City

Some day Cincinnati and Charlotte are going to have to settle the 'Queen City' debate.

[e-dub]

I've always been Team Cinci, in that regard.

[Rockatansky]

18 hours ago, nashvylle said:

Can someone please explain to me how the Tennessee state court can deal with a metro issue? 

State supremacy. All governmental power in the state comes from the State government. Its similar to how the State Leg has (and continues to) override Metro decisions.

Edited April 4, 2019 by Rockatansky

[PaulChinetti]

1 hour ago, Bos2Nash said:

I mentioned this on the neighborhood thread as a viable option. Unfortunately Formosa does not have the resources and SMI won't invest much without a public/private relationship. Creating a new entrance would be great, working it around the parking concerns, new buildings and new expo buildings would probably call for a re-invention of the fan experience all around the speedway and probably infield. Thats alot of money.

To put it in perspective, Daytona International Speedway just re did their fan experience and grandstand entry points and it cost them $400 million. ISM (Pheonix) Raceway just completed a renovation of grandstands, moving the start finish line and infield redo and that cost them $178 million. The closest project in speedway size is the Colossus transformation that Bristol just underwent a couple years ago where they constructed some massive pylons to create a floating video screen (4 actually) and a massive sound system that has a speaker no more than 90 feet from each of the 100,000+ fans that are in the speedway.

The capacity at the Speedway is 15k or around there I'm pretty sure. We aren't talking gigantic renovations like these. Moving an entrance seems pretty feasible.  There are buildings touching the back of the grandstands now, which you drive through I'm pretty sure. Then another building behind that. 

 

One of the meetings I went to a anti-mls person stood up and yelled at one of the women running the things for nearly 10 minutes about the tunnel to the infield being too small and why they weren't making it bigger. Mind you this was for the moving of the expo buildings and the stadium. So it' sounds like racers and crews have problems with the track as it is now, so maybe a renovation is due anyways.  

[LA_TN]

5 hours ago, Rockatansky said:

Some day Cincinnati and Charlotte are going to have to settle the 'Queen City' debate.

And I've stated this several times before, for you youngsters and short timers, that CLARKSVILLE is the Queen City, around these parts! 

[Bos2Nash]

7 hours ago, nashvylle said:

I believe you said you were an architect, correct? Do you know who is working on the 10 acre development from the architect side? I imagine adjusting the apartment building closest to the track so that an emergency vehicle can go in is possible.

The good news RE your investment concerns is this area is in an "Opportunity Zone", which greatly incentivizes people to make investments such as what you are detailing. 

Yes I do, but moving an entire building isn't as easy as it sounds. Not knowing the actual design of the building presents variables, but looking at the layout of the site plan there seems to be options. Guess its just up to Ingram's group to put their money where their mouth is and be a good neighbor to help maintain the racetrack.

6 hours ago, PaulChinetti said:

The capacity at the Speedway is 15k or around there I'm pretty sure. We aren't talking gigantic renovations like these. Moving an entrance seems pretty feasible.  There are buildings touching the back of the grandstands now, which you drive through I'm pretty sure. Then another building behind that. 

One of the meetings I went to a anti-mls person stood up and yelled at one of the women running the things for nearly 10 minutes about the tunnel to the infield being too small and why they weren't making it bigger. Mind you this was for the moving of the expo buildings and the stadium. So it' sounds like racers and crews have problems with the track as it is now, so maybe a renovation is due anyways.  

I would think that moving the entrance to the north part of the track wouldn't be that big of a change, but the biggest renovations would end up being in the infield and on track. A modern infield care center will almost certainly be required, SAFER barriers must be installed prior to any NASCAR race. I would think the race teams would want to park their equipment and haulers inside the infield as well. That would require a major overall and addition of structures in the infield. Include those changes into any fan experience improvements and we are still looking at north of 50 million probably. 

[FrankNash]

Then NASCAR needs to pony up like the Ingram family has for soccer.

[titanhog]

Seems like a tunnel to the infield for cars / trailers / buses  / emergency vehicles would be a good fix .

[PaulChinetti]

8 hours ago, titanhog said:

Seems like a tunnel to the infield for cars / trailers / buses  / emergency vehicles would be a good fix .

There is one currently it's smaller though. It's off the craighead side, you can kinda see it in the picture above by the 3 buildings opposite the grandstands. It looks like you can get a semi through but it has to be a super tight fit.

[nashvylle]

Here is a picture of a residential building in Rolling Mill Hill. There is an entrance to the parking garage within that building, and there is another building in the foreground of the picture (which could act as the entrance to the racetrack.

I may be missing something, but in my opinion, clearly that garage entrance, exit could be large enough for an emergency vehicle. 

and the other side of that garage entrance:

[Bos2Nash]

^^Hey look, my old apartment! 

Emergency access could go through the garage structure yes, but I don't think anyone has seen enough of the design to make an assumption of what Ingram is proposing with the parking structure. The other element is fans exiting the race track after an event. If you look at the exits coming out of Bridgestone, there is a lot of real estate dedicated to those exits, this would also need to be incorporated into the design of the buildings around the racetrack.

Can someone remind me how much up front cash the Ingram's are ponying up compared the $200+ million the tax payers are ponying up, up front?

[nashvylle]

1 hour ago, Bos2Nash said:

^^Hey look, my old apartment! 

Emergency access could go through the garage structure yes, but I don't think anyone has seen enough of the design to make an assumption of what Ingram is proposing with the parking structure. The other element is fans exiting the race track after an event. If you look at the exits coming out of Bridgestone, there is a lot of real estate dedicated to those exits, this would also need to be incorporated into the design of the buildings around the racetrack.

Can someone remind me how much up front cash the Ingram's are ponying up compared the $200+ million the tax payers are ponying up, up front?

- $150MM expansion fee.

- $9MM of debt service per year for the first 10 years. 100% of debt service thereafter ($13MM estimated per year). 

- Estimated $2.2MM of taxes from 10 acre development per year to city and fair board (split 50/50). 

 

 

Edited April 5, 2019 by nashvylle

[OnePointEast]

3 hours ago, nashvylle said:

I thought that was an aerial view for a sec, until I saw the vehicles drowned door-high with what looks to be the garage's cement. Lol

[tragenvol]

23 hours ago, Rockatansky said:

Some day Cincinnati and Charlotte are going to have to settle the 'Queen City' debate.

And Clarksville, TN as well.

Edited April 5, 2019 by tragenvol

[PaulChinetti]

9 minutes ago, tragenvol said:

And Clarksville, TN as well.

Didn't Clarksville change over to "Gateway to the New South" quite a bit ago? I'm from there, I don't recall anyone ever calling it the Queen City, I could be mistake though.

[tragenvol]

1 hour ago, PaulChinetti said:

Didn't Clarksville change over to "Gateway to the New South" quite a bit ago? I'm from there, I don't recall anyone ever calling it the Queen City, I could be mistake though.

 

As @LA_TN said above, youngsters might not remember this moniker.

Edited April 5, 2019 by tragenvol

[Bos2Nash]

3 hours ago, nashvylle said:

- $150MM expansion fee.

- $9MM of debt service per year for the first 10 years. 100% of debt service thereafter ($13MM estimated per year). 

- Estimated $2.2MM of taxes from 10 acre development per year to city and fair board (split 50/50). 

Thanks for the info. 

The 150 million is a fee that is paid to MLS so the city doesn't see any of that. For taxes, METRO would have to give SMI some "development rights" (I use this term loosely) around the speedway to allow them to actually improve the speedway as they see fit along with the mandated renovations to bring in NASCAR to the track (ie SAFER Barriers, Infield Medical Facility, General Infield Renovations and fan experience improvements around the track)

So that leaves a potential debt service agreement. SMI had previously talked about investing in the speedway in their operator bid, but wanted substantial investment from METRO as well (I believe that was the case at least). I could see a debt service agreement coming into play easily to help move the speedway forwards.

I think another hurdle would end up being user agreements between the city, Ingram and Formosa/SMI on parking and access to parking structures built throughout the land. Do we know how revenue from parking is moving between Ingram and METRO? 

[PaulChinetti]

Revenue from parking goes towards paying the yearly debt bill. 

[nashvylle]

20 minutes ago, PaulChinetti said:

Revenue from parking goes towards paying the yearly debt bill. 

Revenue from parking for soccer and soccer stadium events, correct?

[PaulChinetti]

Yeah basically everything goes to pay the debt bill including merch I'm pretty sure. 

[Melrose]

Here's a rundown of the financing and what was changed at the end:

https://www.tennessean.com/story/news/2018/08/16/nashville-mls-private-development-fairgrounds/1006970002/

When SMI bid for the racing contract a few years ago, they  proposed upgrades of around $20 Million, not including desired upgrades for the grandstand and concessions and other operations buildings, which they provided no estimate for.  Their bid called for Metro to pay for 100% of all upgrades and construction. 

 

[NashvilleObserver]

Y'all...... "Queen City" is a term for a city that is the largest in the state, but not the capital. 

Cincinnati and Charlotte are part of the largest metropolitan areas in their respective states. They are Queen Cities. This does not apply, however, to Clarksville. 

[donNdonelson2]

Charlotte is the Queen City because it was named after Queen Charlotte 

https://www.tripsavvy.com/how-did-charlotte-get-its-name-583723

[donNdonelson2]

Here is the story for Cincinnati 

https://theculturetrip.com/north-america/usa/ohio/articles/cincinnati-oh-called-queen-city/