Lakeland to buy land for future performing arts center
The Lakeland Board of Commissioners has approved the purchase of 7.3 acres within The Lake District to build a performing arts center. (Brad Vest/The Daily Memphian file)
The City of Lakeland is making moves aimed at bringing a performing arts center to its Gateway area.
The city’s Board of Commissioners approved a letter of intent unanimously Thursday, July 20, to purchase 7.3 acres for the project within The Lake District mixed-use project at the Interstate 40 and Canada Road interchange.
Thursday’s approval is non-binding and has no price attached.
The Lake District filed a petition to reorganize under Chapter 11 bankruptcy in March to avoid foreclosure on the 160-acre property.
City Attorney Will Patterson pointed out that The Lake District LLC is still working its way through the bankruptcy process.
“If we’re able to negotiate something, if would be approved again by this board, go through the bankruptcy court, then also funding would be secured through future TIF (Tax Increment Financing) revenues,” he said.
The city’s hope is that the cost of the land and potentially some or all of the city’s portion of the cost of construction could come from the TIF revenues generated from The Lake District.
Mayor Josh Roman alluded to the news earlier this year that the Orpheum Theatre Group was scouting possible locations for a 1,000-seat Halloran Center for the Performing Arts and Education that would serve northeast Shelby County.
“They have reached out to us and basically said Lakeland/Arlington would be a good fit for them,” he said.
“However, they’re looking for land where their future performing arts center would go. And looking at all of the available land, ways to pay for it, I felt like this parcel would probably be the best in the interest of our city and in the interest of that project (The Lake District) and hopefully in the interest of them (The Orpheum).”
The City of Lakeland is buying 7.3 acres (circled in red) in The Lake District for a future performing arts center. (Courtesy City of Lakeland)
He said the next step will be to meet with the Orpheum Theatre Group and try to sell them on the location.
Yehuda Netanel, The Lake District’s developer, thinks a performing arts center would be a positive addition and would add another amenity to his project.
“Having a performing arts center of this magnitude will have the potential of attracting very high-caliber talent on an international scale ...” Netanel said. “I think it’s another indication of the continued growth of the (northeast) Shelby County area. We’re looking forward to the first curtain call.”
Commissioner Wesley Wright is thrilled with the possibility of a performing arts center in Lakeland.
“I think it’s a worthy pursuit. I love it,” Wright said. “It’s been a dream of mine for years. I didn’t envision it coming about this way, but this is probably an even better path to get there. The presence of a facility at The Lake District that promotes the arts both enhances and elevates our community, and it sets the tone for cultivating an environment that will benefit both the artists and supporters. It’s a win-win.”
The move by the city is the latest in its push over the past several months to beef up the “gateway” area at the I-40 and Canada Road interchange.
Last week at a special-called meeting, commissioners approved taking possession of the Econo Lodge at 9822 Huff N Puff Road as well as acquiring other nearby property. That land is earmarked for a $17 million to $18 million YMCA community and athletic center.
Topics
Lakeland The Lake District Orpheum Theatre Group Mayor Josh RomanMichael Waddell
Michael Waddell is a native Memphian with more than 20 years of professional writing and editorial experience, working most recently with The Daily News and High Ground News.
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