Downtown construction is starting to look like a baseball stadium. See it for yourself!
It's shaping up to be a busy year and a half for construction crews working at the downtown Knoxville stadium site, which is beginning to look more like a baseball facility each day.
A new aerial photo provided by the Sports Authority Board shows progress that's been made since the groundbreaking June 13, though work truly began months prior.
What looks like the stadium's backstop and dugouts are visible in the photo, as the facility continues taking shape along the first- and third-base lines.
Crews also are laying the groundwork for Yardley Flats and the Beauford Delaney Building, the residential components of this new stadium district.
Construction of the $114 million stadium is scheduled to wrap by opening day 2025 for the Tennessee Smokies, the Double-A affiliate of the Chicago Cubs. The team, owned by Boyd Sports, will change its name to the Knoxville Smokies upon moving.
A new look for Smokies stadium in downtown Knoxville
The aerial photo was shared along with other construction images at the monthly Sports Authority Board meeting Sept. 26. Later that day, Smokies CEO Doug Kirchhofer said he was "95% confident" the stadium would meet its target date.
At the meeting, Kirchhofer shared the team's plans to adjust the stadium design by replacing a grassy outfield area with picnic seating and replacing six rows of seats behind home plate with five rows of premium seating.
These changes were approved by the Board, so long as the cost is covered by Boyd Sports and its owner, Randy Boyd.
How the downtown Knoxville stadium is being funded
Boyd already has pledged to pay above and beyond his original commitments, as the price of the stadium shot up. Here's how the stadium is being paid for:
Local government bonds: $65 million
State of Tennessee grant: $13.5 million
Investment earnings on bonds and state grant: $2.5 million
Payment from Knoxville Smokies owner Randy Boyd: $13 million
Loan from Randy Boyd: Up to $20 million to KCDC, transferred to Sports Authority for construction
Total: $114 million
Sales taxes generated inside the stadium would go toward repaying the bond debt over 30 years. Local government also will be repaid $1 million each year by the Smokies to rent the publicly owned stadium.
Money from payment in lieu of taxes, or PILOTs, related to two adjacent residential buildings being built also will be used to repay the bond debt.
Local government has made it clear Boyd will not be repaid for his $20 million loan until the tax increment financing district, commonly called a TIF district, pays for the needed infrastructure improvements around the stadium.
TIF districts bank on an anticipated increase in property tax revenues that would come only from new development within a designated area.
Smokies stadium project still needs diverse workers
As the project moves forward, the team continues to recruit disadvantaged businesses to participate in construction. The goal is for contracts with these businesses, which include those that are Black- and woman-owned, are to represent 17% of the stadium's cost.
As of Sept. 26, disadvantaged businesses represent roughly $9.8 million of the $86.8 million worth of contracts awarded or in the pipeline. That's roughly 11.3%.
A team working to recruit disadvantaged businesses said the percentage should increase once contractors hire disadvantaged businesses for smaller projects within the stadium.
Ryan Wilusz is a downtown growth and development reporter. Phone 865-317-5138. Email [email protected]. Instagram @knoxscruff.
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This article originally appeared on Knoxville News Sentinel: Downtown Knoxville construction starting to look like Smokies stadium
