Developer Vernon Krause is facing an uphill battle in securing taxpayer support for his $2 billion Gathering project in Forsyth County as he aims to land an NHL expansion franchise. Despite league leaders stating that they are not currently looking to expand, Krause remains optimistic about presenting a solid plan to the NHL.
The Gathering project, set to be one of the largest developments in the area, has sparked debate over the number of apartments, potential public subsidies, and the promise of bringing major events to the affluent and conservative suburb. Commissioner Todd Levent, the lone dissenting vote, cautioned his colleagues against prioritizing professional Sports without ensuring sufficient protections for the county.
In a bid to move forward with the project, the county is unable to establish an arena authority due to a lack of state law changes. Instead, the county’s existing development authority will issue bonds, with the potential addition of a Tax Allocation District (TAD) to finance the project through newly generated property taxes.
Despite some opposition and concerns, including the future financial implications and demographic changes in the county, Krause’s team has made concessions such as setting aside affordable housing units and contributing to public safety infrastructure. The proposed project includes a mix of residential, commercial, and Entertainment spaces, with Krause aiming to bring an NHL franchise to the area.
As the project progresses through zoning and permitting, there are hopes that the NHL may consider expansion in the future. However, with challenges ahead and the arena’s financial implications being scrutinized, only time will tell if Krause’s ambitious vision for the Gathering project will come to fruition.
(Historic background: Forsyth County has experienced rapid growth in recent years, making it an attractive location for large-scale developments. The debate over the Gathering project reflects broader discussions about community growth, economic development, and the role of professional sports in suburban areas.)
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