According to WCNC, Charlotte leaders announced renovation plans for Spectrum Center during Tuesday’s City Council business meeting. Leaders say this could be a win-win for everyone involved in a “New Buzz City.” Work could start in 2022.
The estimated base price of $173 million in renovations includes a performance enhancement center, but it could run as high as $245 million. There would be expanded locker rooms and health care spaces. They also would like to develop an entertainment center around the building.
Of course, city leaders say this would be a win for everyone involved, the city, the team, and the developer.
The city said no general funds would be tapped into. However, the plan suggested involves dipping into the tourism fund for additional capital upgrades, to the tune of $42 million. $60 million is also the asking price for naming rights in the performance center. The naming rights and tourism funds for capital upgrades are what push the cost up to $245 million.
The city is opening up public input online, and plans for a follow-up presentation to the city council later during the June 6 strategy session, aiming for a council vote on June 13.
Just my opinion but didn’t we already have an entertainment district with the Epicenter? That worked out well. And in the end, guess who pays for it? You.