Fayetteville was looking to bring private investment to a distressed area of its downtown. NSV Development founder Michael Lemanski was working with a group of investors to turn an abandoned hotel into multifamily housing. When he heard the city was looking to build a new baseball stadium outside of the center city his team quickly developed concepts and a Public Private Partnership model that would allow the stadium to be built downtown, generating over $100 million in new private investment.
Location: Fayetteville, North Carolina
Total public investment: $58 million
Total private investment: $100 million
Project highlights: New downtown sports and entertainment stadium, historic multi-family redevelopment project, mixed-use residential project, public parking garage, redeveloped office building and a public plaza/greenspace.