Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MOUNT CLEMENS, MI-The city has approved a plan to finance a 7,000-seat, $20-million stadium for a minor league baseball team.

The stadium would be built at the site now occupied by a Comfort Inn at the intersection of Gratiot and North River roads. The new stadium would include 300 suites, according to the proposal.

The team would be owned by a group of area investors operating as Michigan Sports LLC. It has yet to be determined exactly which governmental entity would own the stadium.

Under the arrangement, the city will enter into an agreement with Macomb County under which the county would put up bonds worth $8 million to finance the project. The remaining $12 million would come from Michigan Sports or other private sources. The bonds would be repaid with a $2 ticket surcharge, with part of those funds going to the city and part to the county. The city would be guaranteed at least $250,000 in revenues under the arrangement.

Michigan Sports told the city that the stadium could generate about $4.2 million in annual revenues, between use as a ball park and as a concert and event venue.

The city has been working for about three years with various groups interested in bringing minor league baseball to Mount Clemens. Several sites had been proposed for the ballpark, including a city-owned park on Groesbeck Highway. That plan was rejected when business owners balked. The city’s merchants want the stadium closer to the city’s thriving downtown entertainment district.

Even with the approval for the stadium financing, the first game is likely still about two years away, given the time needed to construct the new stadium. No name of the team has yet been announced.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.