ORLANDO, FL (CelebrityAccess) — Orlando City Baseball Dreamers unveiled new architectural renderings for a proposed major league baseball stadium to be located in Orange County, Florida with hopes of luring a new major league franchise to the market.
The plans showcase the design of a proposed 45,000-capacity domed stadium located on a 35 acre parcel near Orlando’s International Drive between SR 528 and the Aquatica Orlando water park.
“We wanted to create something special, something both Orlando residents and tourists alike would enjoy,” said Orlando Dreamers Founder and President, Pat Williams. “Being located in the heart of the tourist district and the 80 million visitors we see in Orlando annually; we understand that this venue must be an attraction unto itself. We are designing the stadium with the fan experience in mind and are using innovation to create a unique experience unlike anything seen in Major League Baseball.”
The stadium pitch includes a pledge of $700 million in private funds for the proposed venue, which, along with its associated parking facilities, is estimated to cost approximately $1.7 billion to build. Orlando City Baseball Dreamers would also seek $975 million in funding from Orlando taxapyers through a municipal bond issuance with the balance of the project to be financed by the MLB team and its affiliates.
Following the construction of the stadium, the facility would be owned by Orange County but the developers anticipate that no additional funding for stadium operations or capital expenditures would be required from the County beyond the initial investment.
“Given the limited uses of the TDT (Tourist Development Tax) funds by law, we are confident that no other project – past or future – compares as favorably as our project when considering job creation and economic impact,” said Williams.
While the proposed stadium does not yet have a tenant, Williams hopes Major League Baseball will select Orlando for one of two potential expansion teams.
“You don’t get many chances to add a professional sports franchise to your community. If we don’t act now, we may never have this opportunity again,” Williams told Fox 35 Tampa.