Investigating Ditched Investment

City officials behind a proposed entertainment district in Sugar Land, Texas, are evaluating the impact of one major stakeholder – AEG – pulling out of the development.

City official Joe Esch told Fort Bend Now the company previously expressed interest in owning a major stake in the district.

However, AEG cited a change in the market as a reason to scale back to "minimal or no stake in ownership," he said, discussing a possible management role instead.

Five venues have been proposed for the district, including a festival site, 2,000- to 6,500-capacity concert facility, exhibit hall, baseball field and hotel and convention center, the paper said.