A milestone was reached today in the development of a soccer stadium district on about 35 underutilized acres in Butchertown. Financing was secured at a highly competitive rate for Louisville Metro Government’s sole investment in the project, $30 million. The general obligation bond anticipation notes (BANs) were sold to J.P. Morgan Securities LLC with a winning interest bid of 1.96 percent.
The city’s portion of the nearly $200 million soccer stadium district plan includes $25 million to buy and prepare the land, and $5 million to fund brownfield remediation and public infrastructure. Louisville City FC (LCFC) will develop the project, which will be anchored by a $50 million, 10,000-seat stadium. The development will also include retail, a hotel and offices, built by private investment.
In addition, LCFC will pay $14.5 million back to the city over 20 years for the land cost.
“This is a smart opportunity, and when smart opportunities to move our city forward come up, we’re going to take them. Pro soccer is an amenity that helps attract and retain young talent, and our entire city will benefit once this underutilized, highly visible space is reinvented as a bustling, vibrant soccer stadium district,” said Mayor Greg Fischer.
The project will create jobs and eliminate a brownfield currently filled with storage tanks, storage facilities and used cars. It also is expected to spark foot traffic to Butchertown, the Big Four Bridge, and Botanical Gardens. Additionally, it brings the prospect of a Major League Soccer franchise within reach.
A city-commissioned feasibility study confirmed that a soccer-specific stadium is needed to maintain and grow professional soccer in Louisville. The “stadium district,” to include the soccer stadium, Louisville Slugger Field and the Yum! Center, all within blocks of each other in the same line of sight, will build on the momentum downtown, in Nulu and Butchertown.
Monday, November 13, will be Wear Purple Day in Louisville to support Louisville City FC ahead of the USL championship game, Mayor Fischer said
via a city proclamation.
“Louisville City FC is on the cusp of a championship — an epic accomplishment for such a young team,” Mayor Fischer said. “I’m asking citizens to show their appreciation and support by wearing Louisville City purple on Monday, and to head to Slugger Field to cheer the players on as they bring the USL Cup home to Louisville.”
Louisville City plays for its first USL Cup championship at 9 p.m. Monday at Slugger Field against the Swope Park Rangers.
Mayor Fischer also announced that the Big Four Bridge will be lit in purple this weekend and Monday ahead of the USL championship game.
The Mayor and Louisville City FC are hosting a pep rally at 4 p.m. this Friday at Fourth Street Live. The public is invited to cheer on the players, coaches, staff and owners.
Heads up, soccer fans! The United Soccer League has a few new teams this year. One of which will be here in Louisville.
Louisville City FC will host approximately fifteen games at Slugger Field for the season, with more than half of these being weekend games. All games will be in the evening. Individual game ticket prices are not announced as of yet, but season tickets are available, price range is $180-$505
The Louisville City FC also just announced their home debut for the 2015 season. The game will be March 28th at Slugger Field. Even more exciting is that the team will be playing the St. Louis FC, which is also a new team to the league this year.
It is anticipated that these two teams will be rivals and this should make for an exciting for an game. The full schedule will be released tomorrow.