Tepper Sports & Entertainment is not seeking any public money for the project, according to the proposal.
CHARLOTTE, N.C. — Tepper Sports & Entertainment is proposing plans to build a 4,400-seat indoor venue next to Bank of America Stadium, a privately funded project that would bring an estimated 80 to 100 shows annually to uptown Charlotte, according to city of Charlotte documents.
Tepper Sports & Entertainment is not seeking any public money for the project, according to the proposal, which is being discussed by the Jobs and Economic Development Committee on Monday.
Charlotte City Council could vote as early as Oct. 13 on lease terms that would allow the Carolina Panthers ownership group to operate the indoor music venue on approximately 2 acres of city-owned land near the stadium. The venue would require no public funding for construction or operation. The Charlotte City Council approved a rezoning request in April that allows this type of facility.
The Panthers’ ownership group filed the petition in December to bring the venue into compliance with Charlotte’s Unified Development Ordinance. The project, expected to cost $1.3 billion, will be funded by two different sources. First is the previously approved $650 million for stadium renovations from the city of Charlotte’s hospitality funds. Tepper Sports and Entertainment is matching that with just over $668 million.
Under the approved plan, the Panthers have committed to providing at least 25% more publicly accessible open space than ordinarily required, which will function as public plazas and festival spaces. The plan also includes two key pedestrian pathways: one connecting Morehead Street and Mint Street, and another extending from the practice facilities via a railroad underpass tunnel to Graham Street.