Chattanooga and Hamilton County leaders have a new plan for a Lookouts baseball stadium that they think will power a vast revamp of old foundry land and serve as a signature gateway into the city.
If the plan receives all the approvals, the new stadium could be ready for the Chattanooga Lookouts’ opening day in spring 2025, officials said.
The proposal by the city and county mayors unveiled Thursday calls for using public and private money for the multiuse stadium, financed by the sale of 30-year bonds for $79.4 million. Including the value of 8 to 9 acres of donated land, the project is estimated by officials at $89 million to $94 million.
The stadium, with a capacity for more than 8,000 people for minor league baseball, would sit in the 120-acre U.S. Pipe/Wheland Foundry site off Interstate 24 in the South Broad District. That’s the same location as a partially successful funding proposal taken early this year to the state legislature.
(READ MORE: Chattanooga Lookouts see hundreds of uses a year for new stadium)