Leland’s proposed minor league baseball stadium could generate an estimated $21.9 million in annual economic impact across the Cape Fear region, according to a study released this week.  

This spring, Leland leaders embarked on a feasibility analysis and economic impact assessment of a proposed 6,000-seat baseball stadium, a venue set to anchor a sprawling multi-use development on 1,400-acres near Brunswick Forest. The study aims to help guide town officials as they decide whether the town should pursue the project.

Representatives of Texas-based REV Entertainment, a management partner for various sports teams including the Texas Rangers, contacted the town of Leland last year about the prospect of bringing a minor-league baseball team to the area. Leland officials then commissioned a project feasibility and economic impact study from Chicago-based consulting firm Baker Tilly to further explore the project.

The Leland Town Council will hear a presentation on those findings Thursday at its regular meeting. Town officials publicly released the report on Tuesday afternoon. 

The report highlights new details of the project along with newly projected economic impacts, concluding “the estimated addition to public revenues should be considered by the Town of Leland as a compelling case to move forward in further exploration to build the stadium in conjunction with REV entertainment and Jackeys Creek Development.”

The total development cost of the baseball stadium is estimated at $105.6 million with the stadium itself costing an estimated $59 million and required infrastructure, including site preparations and utilities, estimated at $46 million, according to the study.

The stadium will have a 6,000-person capacity, including 4,000 fixed stadium seats and 2,000 other seats within the concourse, group venues and lawn seating. It will also feature a “substantial hospitality zone, a terraced corporate event space, fun zone and climate-controlled indoor suites,” the report states.

The stadium and its associated parking would be built on 51 acres of the 1,400 acre development site, which is owned by Jackeys Creek Investors LLC.

The baseball stadium would be used as a “catalyst” and anchor for surrounding development, according to the study. A 245,000-square-foot medical campus is proposed as the development’s second anchor.

The study finds that based on market demands, the area could see a range of development, which would be built over a 20-year period.

Real estate consulting company RCLCO created market-based projections for the site’s development, finding that the “highest and best use” of the site involved “greater density and a mix of uses.” These projections also prioritized commercial space, multifamily housing and attached housing over single-family detached-style homes, the report stated.

Proposed plans include a 150-room full-service hotel with a bar and restaurant, 10,000 square feet of meeting space and a party deck offering views of the baseball field. Two other limited-service hotels each with 120 rooms are also proposed.

The development includes a proposal for 9,950 total housing units with 5,500 rental units and 4,450 for-sale homes. 

Plans also feature 400,000 square feet of commercial space with around 135,000 square feet of restaurant space, 100,000 square feet for grocery and drug store uses and 55,000 square feet for entertainment and fitness venues.

Around 650,000 square feet of office space is included in the development plans with 150,000 square feet of traditional office space and 500,000 square feet of medical office space.

At full build-out, the stadium and surrounding development would have an estimated value of $2.39 billion, according to the study. The project would generate an additional $182 million in property taxes over a 30-year period with around $109 million going toward Brunswick County and $73 million going to the town of Leland.

During its construction, the project is expected to generate 29,695 temporary indirect, direct and induced jobs. The economic output and labor income stemming from the development is estimated at $5.1 billion, according to the report. The stadium is expected to create 319 permanent jobs once completed. 

Over a 10-year period, the stadium operating revenue is forecast to be $135 million in tickets, concessions, parking, merchandise and other events. Additional stadium revenue could be generated through a stadium lease, parking fees, a ticket fee surcharge and naming rights or sponsorships. The surrounding development would generate $175 million in additional sales tax revenue over a 30-year period, according to the report. 

“This consistent infusion of economic activity will likely stimulate various sectors, such as hospitality, retail and services, thereby fostering economic growth, supporting local businesses, and ultimately improving the overall financial well-being of the region,” the study states.

Moving forward, the report recommends town officials take a number of steps to further explore bringing the stadium to the area. It suggests the town identify financing options for the project and evaluate whether there are any “statutorily available” revenue tools.

Brunswick County’s announcement earlier this year that it wouldn’t help fund the baseball complex or its surrounding development dealt a blow to the project’s financing.

The study further recommends evaluating the development’s potential impact on town services, including public safety, road maintenance and other government services, defining the project’s quality of life benefits and developing an “innovative approach” to financing the project in its early years before it reaches its revenue potential.

Finally, the report recommends Leland engage in a public-private partnership with key project partners, including Jackey’s Creek Investors LLC and REV Entertainment.