A huge mixed-use project proposed for just south of downtown would feature a 3,400-seat theater designed to attract 150 concerts, plays and events per year. Lead developer Ryan Zickler says the venue could draw 250,000 new visitors to downtown per year.
His development team is finalizing plans for the overall $480-million project, which also calls for 200 condos, up to three hotels and 175,000 square feet of retail space.
The project, called Legends District-SODO, would sprawl over 11 acres that are now home to several parking lots, Subway and Arby’s restaurants and the old Chateau Thomas Winery. The developers would have to buy out the restaurant leases and the land, which it has under contract.
The Legends Entertainment LLC has quietly put several properties under contract in the last two years. It now controls all the land needed for the project and recently closed on the first parcel, a 1.2-acre parking lot at the southeast corner of South Street and Madison Avenue, for $3.5 million.
Besides Zickler, other partners in Legends are Tim Shrout, president of locally based Cedar Run Ltd., which developed Heartland Crossing, and Doug Mennen, principal of Lafayette-based Mennen-Gutwein LLC.
Further details about the project will be reported in this weekend’s IBJ.