Titans, Nashville Begin Serious Talks on Lease Extension
NASHVILLE – The Tennessee Titans and Nashville city officials have begun formal discussions on an extension of the team’s Nissan Stadium lease. Those talks include redevelopment of the area around the venue, which opened in 1999 and has been the Titans’ home field ever since.
The announcement represents a step forward in the process. All talks to this point have been categorized as “preliminary.” Representatives for both sides say they intend to pursue an agreement with regular meetings over the coming weeks.
“Today is a big day for the Tennessee Titans organization, as we look to the future of Nissan Stadium and surrounding area,” controlling owner Amy Adams Strunk said in a release. “Our biggest priority throughout this process has been to envision a space that Nashvillians would be proud of, built with the community in mind. The idea of our stadium in a neighborhood where locals can live, work and enjoy, is something we’ve been focused on for a long time.
“Not only will the project serve generations of Nashvillians to come, but it will generate the revenue needed to provide Metro with substantial financial relief. We’re so appreciative of Mayor Cooper’s enthusiasm for this project.”
The proposal is for private development of the area around the stadium. The tax revenue created by the project would offset the city’s current financial considerations in the current lease and to fund future upgrades to the stadium. Among the options under consideration are the creation of some mix of parks, green space, residential and office space as well as retail outlets and restaurants.
“The plan for a vibrant neighborhood along our city’s East Bank, bringing people closer to parks and creating opportunities for local businesses, is a huge opportunity for our community,” Nashville Mayor John Cooper said. “I am committed to a solution that best fits the needs of Nashville, and I know the Titans share that same commitment.
“A bold vision brought the Titans to Nashville more than 20 years ago, and a renewed vision will secure the Titans’ future in our great city.”
