Charlotte proposes $215 million in renovations for Spectrum Center, new practice facility
The city of Charlotte is proposing $215 million in investments that would upgrade the Charlotte Hornets’ home at the Spectrum Center and build the NBA team a practice facility for $60 million.
Under the proposed deal, the city of Charlotte would extend its lease with the Charlotte Hornets to 2045. The existing lease is set to expire in 2030. The new practice facility outside the arena will come from a separate pool of funding.
Construction is expected to begin this summer and take four years.
In the proposed deal, the Hornets would begin paying $2 million per year in rent in 2030 and $1.1 million in capital investments beginning in 2024.
Charlotte Mayor Vi Lyles recommended the proposal be sent to the city’s economic development committee before City Council takes a final vote.
The money for renovations will come from the city’s tourism dollars — rental car sales tax or hotel occupancy rate tax, for example — and won’t affect the city’s general fund budget, according to city of Charlotte CFO Teresa Smith.
“We did not disregard the wants and needs of our other facilities,” Smith said.
Renovations from the $215 million pool would include:
entryways
bathrooms
escalators
elevators
new HVAC systems
plumbing repairs
roof repairs
New practice facility
The new practice facility would include two full courts, expanded locker room space and a health care space. It’s expected to either replace the existing Charlotte Transportation Center or be built in the existing gravel lot beside the stadium. Money for it would come from naming rights for a proposed new district.
If the practice facility is built in the existing transportation center, the bus facility would be moved underground.
The proposed renovations plus the potential sale of the Epicentre generated excitement for Charlotte Assistant City Manager Tracy Dodson and Charlotte Hornets President Fred Whitfield, who say the two could be the catalyst needed to jump-start an entertainment-focused district in Uptown Charlotte.
In the new district area, city officials floated the idea of occasionally closing down South Brevard Street for sports festivities and to “bring the excitement outside.”
Construction will not affect regular season Hornets games, Whitfield said. The center typically holds more than 100 events each year as well.
“We’re gonna do our best to make sure we can do as many concerts and family shows while construction is going on,” Whitfield said.
The Spectrum Center has a $376 million economic impact and supports 3,200 jobs annually, Dodson said.
This story was originally published May 31, 2022 at 6:28 PM.
