The University Of Tennessee System Office Awards Facilities Contract to 865 Neyland Parking Developer Llc (May 2026)

Scope & details

The full contract record, as filed.

Contract amount

Development cost estimated at $83 million; Development Fee approximately $700,000; University hazardous materials cost share up to $500,000; various contingency funds totaling over $5 million

Contract type

FACILITIES

Contract term

Development period through anticipated Substantial Completion Date of August 1, 2027; Parking structure useful life designed for at least 99 years

Renewal date

2027-08-01

Renewal

Development Agreement includes a Substantial Completion Date currently anticipated as August 1, 2027 and allows UT, after bond repayment, to add the Parking Project into the entertainment district leased premises so the developer assumes maintenance and revenue. Liquidated damages of $5,000 per day apply for late completion, subject to force majeure.

Document type

Agenda

Source document

University of Tennessee Executive Committee Agenda May 2026

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University of Tennessee Board of Trustees Executive Committee Agenda Packet 2026-05-04

APPROVED

Housing Authority of Middlesborough, KentuckyDevelopment fee of approximately $700,000 within an estimated $83 million parking project budgetMay 4, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by The University Of Tennessee System Office?

865 Neyland Parking Developer Llc was awarded this facilities contract by The University Of Tennessee System Office, as recorded on May 2, 2026. The contract value is Development cost estimated at $83 million; Development Fee approximately $700,000; University hazardous materials cost share up to $500,000; various contingency funds totaling over $5 million.

How much is the 865 Neyland Parking Developer Llc contract with The University Of Tennessee System Office worth?

The 865 Neyland Parking Developer Llc contract with The University Of Tennessee System Office is valued at Development cost estimated at $83 million; Development Fee approximately $700,000; University hazardous materials cost share up to $500,000; various contingency funds totaling over $5 million, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record.

Where was this contract approved?

This contract appears in University of Tennessee Executive Committee Agenda May 2026 (Agenda), dated May 2, 2026 from The University Of Tennessee System Office. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 865 Neyland Parking Developer Llc hold?

865 Neyland Parking Developer Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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