Last summer, Chattanooga Mayor Tim Kelly + former Hamilton County Mayor Jim Coppinger announced a plan to revitalize the South Broad district.

Now, we have a development update on the new multi-use stadium + future home of the Chattanooga Lookouts.

The Chattanooga-Hamilton County Sports Authority has released updated renderings on the plans for the new stadium — done in partnership with New City Properties and Perimeter Properties. Spanning 140 acres, the rebuild will redevelop, revitalize + incorporate historical buildings into the plans.

The new stadium will be a catalyst for development on the US Pipe and Wheland Foundry Site. | Rendering by New City Properties via The City of Chattanooga

The executive summary states the Lookouts will pay at least $75 million to build + maintain the stadium over the course of a 30-year lease. The team's rent will start at $1 million per year — one of the highest rents for a minor league baseball team.

The stadium is projected to open in 2025. Check out more information on the future of South Broad + funding data.