Real Estate Project Frequently Asked Questions (FAQs)
Interested in learning more about the NASED Real Estate Project? Here are some quick facts to get you up to speed. The NASED team will continue to update the section as the project is further developed.
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What is the NASED Real Estate Project?
The Real Estate Project will comprise the development of approximately 70 to 80 acres of the 98-acre NASED site and will deliver a mixed-use, live-work-play-thrive entertainment district. Development is initially expected to occur over 20-plus years and include residential (rental and for-sale options), hotels, office, retail/commercial and entertainment uses.
At the conclusion of market outreach campaign, the state will conduct an open procurement process to select a developer for the entirety of the Real Estate Project area in line with the NASED vision, while optimizing economic benefit to the state and minimizing the state’s financial risk.
The state expects to contract with the selected developer via a long-term, ground lease revenue structured transaction for the entire site. This will ultimately result in the development of a vibrant, mixed-use entertainment district that fully supports the vision of NASED and will bring annual revenue to the state to help offset the cost and expenses of the Stadium Project.