TO: Mayor and Members of City Council
THRU:
FROM: Douglas J. Hewett, ICMA-CM, City Manager
DATE: November 10, 2025
RE:Title
Legislative Hearing on Amended and Restated Proposed Stadium View Downtown Development Agreement
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COUNCIL DISTRICT(S):
Council District(s)
2
b
Relationship To Strategic Plan:
Goal III: The City of Fayetteville will be a city invested in today and tomorrow.
Goal IV: The City of Fayetteville will be a desirable place to live, work, and recreate.
Goal VI: The City of Fayetteville will continue to have a collaborative citizen and business engagement base.
Executive Summary:
This is a public hearing for a proposed Amended and Restated Downtown Development Agreement (DDA) between the City of Fayetteville and Fay Hay Master Venture LLC, an affiliate of Lansing Melbourne Group (LMG), for the completion of the Stadium View Project located adjacent to SEGRA Stadium and above the Hay Street Parking Garage. The proposed DDA includes the development of multi-family residential units, hotel units, retail space and elevators at 466 Hay Street.
Background:
The City entered into a Downtown Development Agreement (DDA) on March 28, 2017, with Prince Charles Holdings, LLC, (Prince Charles Holdings) and PCH Development Co., LLC (Developer) to advance a mixed-use redevelopment surrounding the new minor league baseball stadium. That original DDA envisioned a transformative downtown project integrating hotel, residential, office, retail, and public facilities centered around the stadium and the Festival Park corridor.
While SEGRA Stadium and the Hay Street Parking Garage were successfully complete - with City investments of approximately $37.9 million and $17.8 million, respectively - the vertical development originally contemplated for the site was stalled. As a result, the retail, residential, and hotel components remain incomplete.
In 2025, the City Council reaffirmed its commitment to completing the original vis...
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