Asheville, North Carolina, July 30, 2025
News Summary
The UNC System’s Board of Governors has approved a transformative development project at UNC Asheville, including a multi-purpose soccer stadium and mixed-use spaces across 54 acres. A lease for $1 annually over 99 years allows a developer to manage the project, which aims to address off-campus student housing shortages while generating revenue for the university. However, local residents have expressed concerns about environmental impacts and the loss of green space. The stadium, holding 5,000 seats, is set for completion by the end of 2028.
Asheville, North Carolina — The University of North Carolina System’s Board of Governors has granted approval for a significant development project at UNC Asheville, which includes a multi-purpose soccer stadium and mixed-use development covering 54 acres. The agreement, established on Thursday, allows the university’s endowment fund to lease the land for $1 annually for a duration of 99 years.
The endowment fund will partner with a developer to bring the millennial campus project to fruition. Under the terms of the lease, the developer is responsible for managing financing, design, construction, operation, and maintenance of the project. Once completed, the university will begin receiving rents from the developer, starting at $1.69 million in 2030 and increasing incrementally to $4.69 million by 2075.
Chancellor Kimberly van Noort stated that the arrangement will not place any debt or cash burden on UNC Asheville, generating a positive cash flow for the campus over time. The project aims to alleviate a imminent crisis of off-campus student housing, exacerbated by rising rental prices, particularly in the aftermath of Hurricane Helene.
However, the development has sparked opposition among certain Asheville residents. Local organization “Save the Woods” has raised concerns regarding the loss of trees and green space, emphasizing the ecological benefits that the existing forest provides, such as air purification and habitat for local wildlife. Residents have voiced fears about the environmental impact and potential depreciation of property values in nearby neighborhoods.
The soccer stadium, planned in collaboration with the Asheville City Soccer Club, is designed with a capacity of 5,000 seats and will also serve as a venue for the university’s soccer team. The construction of the stadium is projected to require approximately $29 million in public grants. Alongside the stadium, the full development project, which includes housing and retail space, has an estimated budget of $201.4 million.
Construction on the stadium is expected to conclude by the end of 2028, with housing and retail areas opening in the spring of 2029. In addition to soccer matches, UNC Asheville intends to utilize the stadium for various local events, such as concerts and festivals, enhancing community engagement.
Board member Gene Davis emphasized the need to ensure that the land does not serve as collateral for loans and highlighted the importance of environmental stewardship throughout the project. Despite these sentiments, some members of the Board of Governors expressed a desire for enhanced oversight and control of the development. Notably, Swadesh Chatterjee was the sole dissenting vote against the project, advocating for a primary focus on academic needs rather than on infrastructure expansions.
As both supporters and opponents continue to voice their opinions, UNC Asheville moves forward with a project aimed at addressing student housing shortages and enhancing community resources through targeted development.
FAQ
What land is being leased at UNC Asheville?
54 acres at UNC Asheville have been approved for lease to develop a soccer stadium, apartments, and retail space.
What is the cost of the lease?
The lease is set at $1 per year for 99 years.
When will the project begin generating revenue for the university?
Rents from the developer will start at $1.69 million in 2030 and increase to $4.69 million by 2075.
What concerns have residents raised about the project?
Some residents are concerned about the loss of trees and green spaces, the ecological impacts, and potential drops in property values.
What are the plans for the soccer stadium?
The stadium will have a capacity of 5,000 seats, built in partnership with the Asheville City Soccer Club, and is expected to be completed by the end of 2028.
What is the overall budget for the entire project?
The preliminary budget for the full project, including the soccer stadium, housing, and retail space, is estimated at $201.4 million.
Project Key Features Overview
| Feature | Details |
|---|---|
| Land Size | 54 acres |
| Lease Cost | $1 per year for 99 years |
| Initial Rent in 2030 | $1.69 million |
| Expected Rent by 2075 | $4.69 million |
| Soccer Stadium Capacity | 5,000 seats |
| Estimated Stadium Construction Cost | $29 million in public grants |
| Total Project Budget | $201.4 million |
| Projected Stadium Completion | End of 2028 |
| Projected Housing and Retail Completion | Spring 2029 |
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Additional Resources
- WLOS: UNC Asheville Stadium Plan Advances
- The Center Square: UNC System Board Approval
- Business North Carolina: Asheville Soccer Stadium Project
- NC Newsline: UNC Board of Governors Approves Plan
- WYFF4: UNC Asheville Plans New Stadium and Development
- Wikipedia: University of North Carolina at Asheville
- Google Search: Asheville Soccer Stadium Project
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