- Demolition Phase of Construction to begin the week of August 10, 2020 -
CANTON, OH. – August 3, 2020 – Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), a resort, entertainment and media company centered around the power of professional football and owner of the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, today announced that demolition work at the future location of the Village will begin during the week of August 10, 2020. Demolition will prepare the site for the next phase of future development, which includes the construction of the Constellation Center for Excellence, Center for Performance, an indoor, football-themed waterpark, additional youth fields, stadium work, two premium hotels and a retail promenade.
Michael Crawford, HOFV CEO, said, “This demolition will be the first step to making Phase II of the Hall of Fame Village Powered by Johnson Controls a reality, and we look forward to working closely with our partners and the city of Canton to advance our construction plans. While our vision to create a highly unique and immersive mixed-use physical destination continues to progress, HOFV is moving forward with numerous business verticals to help diversify the Company’s revenue streams and allow football fans everywhere to enjoy a variety of entertainment driven by America’s most popular sport.”
“We are excited to begin the demolition work needed to move forward with Phase II of our development, and are extremely grateful for all of the support we have received from the Stark County Landbank, county officials and the general public throughout this process,” stated Carol Smith, Senior Vice President-Special Projects for Hall of Fame Resort & Entertainment Company. “The public/private partnership we have with the Stark County Landbank is the first of its kind for the area, and together, we look forward to creating a one-of-a-kind destination that attracts fans from all over the globe.”
The demolition phase will occur over a three-month period, with construction for Phase II expected to begin shortly thereafter. During the demolition there are no anticipated road closures or interference with traffic patterns. The process will begin on the southern end of the destination and, upon completion, all ground will be graded, seeded and mulched and ready for the next phase of work within the project.
About the Hall of Fame Resort & Entertainment Company
The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.
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