Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Thursday, November 30, 2006

Soccer stadium plans unveiled

By JOHN BOOTH2:45 pm, November 30, 2006

Developers Scott Wolstein and Paul Garofolo unveiled their plans Thursday for a 20,000-seat stadium in northern Summit County, along with proposals for two adjacent shopping centers and a medical campus.
Mr. Garofalo, president and CEO of Wolstein Sports and Entertainment Group LLC, announced details of the plan in a press release and at a news conference in Macedonia.

The 450-acre development would lie along state Route 8 in Macedonia and Northfield Center Township.The project’s price tag is estimated at more than $320 million, with the stadium costing roughly $165 million, according to media reports. Financing would come from the Wolstein Group and bonds sold by the Summit County Port Authority.
The proposed stadium would sport a retractable roof and host a Major League Soccer expansion team. According to an economic study commissioned by the developers, the stadium could host 91 events per year.
One retail area would include a 425,000-square-foot lifestyle center in the vein of Crocker Park, while the other would be a 250,000-square-foot center with an anchor retailer.The proposed medical campus would include an urgent care center, a sports rehabilitation center and a senior citizens wellness center.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home