July 14, 2025
By Erin Talkington, Managing Director; Alex Shaia, Vice President; Nick Ferrante, Senior Associate
2025 Update to RCLCO’s New Sports Venue Anchored Development Tracker
Sports are a unique value driver for real estate development, increasingly serving as an anchor for mixed-use development throughout the country. In 2024, RCLCO created a proprietary Venue-Anchored Development Tracker of every major league stadium in the United States and Canada in order to track existing, under construction, and planned venue-anchored real estate development. RCLCO’s Venue-Anchored Development Tracker includes detailed information regarding every stadium’s ownership, announced future plans, and the surrounding associated real estate development.
A year later, the excitement is mostly existing projects that continue to complete new phases of development and pipeline projects that have hit significant milestones in advancing towards a future groundbreaking. In total, there are eight new pipeline projects and five existing projects that have entered our tracker since 2024.
Key Updates:
- We track 48 existing venue-anchored real estate development projects (MLB, NFL, NBA, NHL, MLS), with 4 under construction and 32 planned or publicly under consideration.
- The Lower Hill District (Pittsburgh Penguins) opened its first building, the FNB Financial Center, earlier this year.
- Park Commons (Nashville SC) delivered its first residential building, 445 Park Commons, in late 2024.
- Centennial Yards (Atlanta), a major mixed-use district adjacent to both State Farm Arena and Mercedes-Benz Stadium, has made significant construction progress expecting to add new development in preparation for the World Cup
- Teams/ownership group involvement remains a defining trend; almost every new pipeline project added this year includes some level of direct participation by the team or ownership group.
- Looking Ahead: Over the coming year, several key projects are expected to open their initial phases. It will also be a pivotal period for the broader pipeline, as projects will either make visible progress toward construction or begin to fade, as some teams and developers reconsider long-running proposals.
