The developers of an initiative to bring an 8,000-seat soccer stadium to the New York State capital city of Albany are seeking public funding to finance their $300 million project.
According to combined media reports, Ed and Lisa Mitzen, the founders of Business for Good, have partnered with Jeff Buell and Chris Spraragen on the proposed stadium, which would host a new Major League Soccer Next Pro franchise. The stadium would be part of a new $300 million “entertainment district” that would a hotel, restaurants, businesses and housing.
The developers are seeking the approval of New York’s state government to finance the project. The cost of the stadium is projected to be 25% of the total project, and it is unclear how much money the developers will be putting into this endeavor.
The new stadium would be located within walking distance of Albany’s main sporting venue, the MVP Arena, which hosts the Albany Firebirds professional arena football team and the Albany FireWolves lacrosse team along with events including WWE tournaments, concerts, graduation ceremonies and the Albany Auto Show. It is uncertain if the new stadium will actively seek to book productions and events that would traditionally appear at the MVP Arena – the developers said they could accommodate 12,000 for non-sporting events.
The developers said they wanted to have the stadium completed by 2026, when the World Cup is being co-hosted by the U.S., Canada and Mexico. However, there is no commitment for any of the World Cup games to be held in Albany if the stadium is completed on time.
“The MLS NEXT Pro project will serve as a catalyst for the reinvention of Albany and will be a big part of our efforts to invest in the community in a meaningful way,” said Ed Mitzen. “It’s everything that Albany needs.”
Albany Mayor Kathy Sheehan called the project “a once-in-a-generation” and urged local support for the endeavor.
“We cannot let this opportunity pass us by and I will do everything in my power to help make this a reality,” she said in a statement.
This is the major stadium project in upstate New York – the Buffalo Bills are currently constructing a new $1.7 billion, with up to $1 billion of its budget coming from public funding.
Photo: Artist’s rendering of the new project.
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