CLEVELAND — Haslam Sports Group is teaming up with a Texas-based developer to advance plans for a mixed-use entertainment district surrounding a new NFL stadium in Brook Park.
The owner of the Cleveland Browns has tapped Lincoln Property Company to tackle the mixed-use portion of the 176-acre project off Snow Road on a former automotive plant site near Cleveland Hopkins International Airport.
The companies announced their deal on Tuesday as the Browns continue trying to build support – and to line up public financing – for their suburban stadium proposal.
Lincoln’s portfolio includes other major, mixed-use projects, including a 10.2-acre development in Charlotte, North Carolina, near Bank of America Stadium, where the NFL’s Carolina Panthers play.
The company is new to Cleveland but has pursued other work here, including a potential arena project at Cleveland State University and a new or redeveloped courthouse for Cuyahoga County, according to public records.
David Binswanger, Lincoln’s co-CEO, said the company has planned 2,000 acres of mixed-use development across the country. In a news release, he said Lincoln understands the basic building blocks of what makes projects like the Brook Park proposal succeed.
“Northeast Ohio and the Brook Park site have all the advantages, including a prime location and accessibility, to become a go-to entertainment destination,” he said.
Lincoln will focus on flanking a new, domed stadium with retail, apartments, offices and hotels. The mixed-use project is a potential $1 billion investment that would happen in phases, potentially over a decade or longer.
The 67,000-seat stadium could cost $2.4 billion – a price tag Browns owners Jimmy and Dee Haslam are looking to split evenly with taxpayers. They’ve been talking to local and state officials about public financing that would involve borrowing against anticipated tax revenues created by the project – on everything from concert tickets to hotel room stays.
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In October, the Haslams announced their plans to focus on Brook Park, ending talks with the City of Cleveland about renovating the existing lakefront stadium.
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A Haslam Sports Group affiliate has a deal to buy the suburban site, which is owned by a group of industrial real estate developers. But there’s still a lot of work to do to make the vision a reality.
Last week, the Browns released an overview of an economic-impact report that they commissioned. It supports their case that the stadium and entertainment district will be an economic driver for the region – conflicting with an analysis paid for by the City of Cleveland that predicts the project will siphon tax dollars, spending and events away from Downtown.
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On Tuesday, Haslam Sports Group and Lincoln provided more detail about what the Brook Park project could include. The mixed-use development will span two hotels, 1,100 apartments, 300,000 square feet of retail and 500,000 square feet of office space.
They aim to open the first phase in 2029, along with the 67,000-seat stadium and a sea of parking. That initial wave of development would include 575 apartments, 450 hotel rooms and 96,000 square feet of restaurants and shops – along with 137,000 square feet of “experiential retail,” including a team store.
“We have been focused on assembling a team of experts who create a best-in-class stadium experience that drives new visitors and economic activity to our region,” said Dave Jenkins, chief operating officer of Haslam Sports Group, in the news release. “Lincoln is internationally renowned, and we are excited for their work and impact on Northeast Ohio.”
Lincoln’s other sports-related projects include the Star, a mixed-use development in Frisco, Texas, that serves as the headquarters for the Dallas Cowboys; and the Rock at La Cantera, a campus that includes a new practice facility for the San Antonio Spurs.
HKS, a global architecture firm based in Dallas, is designing the Brook Park stadium and acting as the master planner for the entire site.
