Note: This story was updated to remove a reference to an investment fund, which was mentioned by city officials at the meeting but could not be confirmed with the developers.
Groundbreaking for the proposed $79.4 million Chattanooga Lookouts stadium on old foundry land in the South Broad District could take place in April, officials said Tuesday.
Brent Goldberg, the city’s chief financial officer, said at the first meeting of the new Chattanooga-Hamilton County Sports Authority that the time frame for breaking ground would allow for a planned April 2025 opening for the ballpark where the Lookouts owners would like to start the team’s minor league baseball season that year.
Goldberg told the newly created panel that plans are to issue up to $80 million in bonds by the end of December to fund construction of the facility on the rundown former U.S. Pipe/Wheland Foundry property in the South Broad District.
Chattanooga Mayor Tim Kelly said the stadium and other development in the area would begin a transformation of the city’s western gateway.