The University of Tennessee announced that 865 Neyland will be the official name of its mixed-use entertainment district and condo-hotel being developed alongside Neyland Stadium.
The new G10 parking garage, which is in the project footprint, is scheduled for completion by August 2027. The primary portion of the entertainment district is set to open in early 2028 and the condo-hotel in 2029.
On Sept. 16, UT unveiled 865 Neyland as the name and brand identity of the project. The East Tennessee area code of 8-6-5 spells V-O-L on a telephone keypad. The address of the development will also be 865 Neyland.
An official logo, updated renderings, digital platform launch on 865Neyland.com, a fly-through video and other details were also part of the announcement.
"The launch of the 865 Neyland brand reflects the momentum behind one of the most ambitious mixed-use developments in college athletics,” Taylor Gray, principal of project developer RVX Ventures, said in the UT release. “From the beginning, our goal has been to create a destination that authentically captures the culture, passion and energy surrounding Tennessee athletics while delivering an experience that serves the Knoxville community every day of the year.”
It's the latest phase for the $280 million project to be built between Neyland Stadium and Food City Center. It will feature approximately 100,000 square feet of indoor and outdoor entertainment space, restaurants, shops, event space, fan experiences and a 24-story hybrid condo-hotel overlooking the stadium with a rooftop bar.
The brand of the condo-hotel will be announced at a later date.
New dining details for 865 Neyland entertainment district
Tennessee provided details of two restaurants in the 865 Neyland entertainment district.
There will be a flagship restaurant inspired by East Tennessee traditions and a multi-level sports and social venue designed to bring fans, residents and visitors together year-round, according to the release. Names and brands will announced at a later date.
There will be additional dining concepts serving the lower and upper plazas throughout the district. There will be two outdoor plazas serving as a central gathering area. One plaza will feature a performance stage and a 50-foot LED display with the capability to host major artists, watch parties and special events.
In total, there will be more than 3,000 square feet of LED displays in the district for an immersive environment.
Cost and revenue of 865 Neyland entertainment district
Tennessee plans for the 865 Neyland entertainment district to be a year-round destination for UT fans, Knoxville residents and visitors. It's expected to create more than 450 permanent jobs and 1,300 construction jobs while attracting more than 2.5 million annual visitors, according to the UT release.
UT projects the development to generate more than $5 billion in economic impact over the 30 years through tourism, hospitality, entertainment and retail.
On May 4, the UT System Board of Trustees approved the construction of the entertainment district. It authorized a 99-year lease for the $280 million project and the funding of up to $83 million for the new G10 garage through the Tennessee State School Bond Authority.
UT entered into a 99-year lease with 865 Neyland developer. The developer will finance, own, manage and maintain the entertainment district. The $280 million cost includes $215 million for the construction of the condo-hotel and $65 million for the entertainment district.
The developer will pay UT an annual base rent of $1.5 million, plus between 3-5% of gross operating revenue from the condo-hotel and entertainment space. UT will have the option to purchase the entertainment district after 40 years and the hotel after 50 years.
UT will finance, own and operate the new G10 parking garage, but it will be constructed by a parking developer. The university will finance an estimated $83 million to build the parking garage, and it will pay approximately $700,000 in fees to the parking developer.
Adam Sparks is the Tennessee football beat reporter. Email adam.sparks@knoxnews.com. X, formerly known as Twitter@AdamSparks. Support strong local journalism by subscribing at knoxnews.com/subscribe.
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This article originally appeared on Knoxville News Sentinel: Tennessee reveals official name of Neyland entertainment district, new renderings
