The Panthers’ decision to cut ties with Rock Hill is concerning to local residents

Many nearby residents fear that the incomplete project could affect property values.
Many residents are concerned with the Panthers' termination of the team's Rock Hill facility construction.
Published: Apr. 20, 2022 at 5:18 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

ROCK HILL, S.C. (WBTV) - Another day of turmoil has ensued after the Carolina Panthers announced they have terminated their agreement with the city of Rock Hill, where the team’s new headquarters and practice facility were supposed to be constructed.

People living next door to the project are left to wonder what the termination will mean for them.

Many businesses believe the dead project will hurt their bottom line.

Now, more groups are feeling the sting of the canceled project.

”When God gave me a team with a big, black cat, and beautiful Carolina blue colors, it was a gift,” Rock Hill resident Teresa Rector said.

But after the Panthers pulled the plug on the massive stadium project in Rock Hill, she said it felt like her gift was snatched away.

Rector has been season-ticket holder for 27 years, but as a result of the current situation, she is forfeiting her seats for the upcoming season.

”There’s been disappointment after disappointment, so this of course was the straw for us,” she said.

While Rector is ditching her passes and saving some money, other residents feel like they will lose out on some that the project could have generated.

”I got a couple of ads from people up in Virginia wanting to buy the property,” Don Lanning said. He also received a letter from a potential buyer in Florida, as well as a visit from a local real-estate agency.

Lanning’s neighborhood is right on the other side of some trees from the practice facility. Its proximity to the facility could have raised property values in the area.

Lanning and his wife discussed potential offers they would have accepted, but now he’s thinking less about prices going up, and more about prices falling if the Panthers project falls flat.

”Even if prices go down, I guess it would get me back to ground-zero,” he explained.

While property values may not go down dramatically, there is still concern that they could drop if the structure remains in its current state.

The full statement from GTRE is below:

“On February 26, 2021, the City of Rock Hill became delinquent on their obligation to fund the public infrastructure. Despite our persistent efforts throughout 2021, the City of Rock Hill failed to issue the bonds or provide the funding for the public infrastructure for the project.

On March 18, 2022, GTRE issued a default notice and the City did not cure its default within the prescribed 30-day cure period. It is unfortunate that some recently decided to conduct a misguided, destructive public relations campaign to obscure their failures.

We have sent notices to the City to formally terminate the previous agreements. Accordingly, we are prepared to sit down with the City and other interested parties to discuss the significant challenges ahead.”

Panthers owner David Tepper previously announced on March 7 that he would halt the project due to financing issues with Rock Hill.

WBTV learned that the city failed to issue its bond, which was due at the end of February.

A new financial deal came on March 21 after York County Council passed a resolution introducing a new, tax-free plan, which Rock Hill supported with its own resolution.

As for now though, the project has been officially terminated by the team.

Copyright 2022 WBTV. All rights reserved.