A quick feasibility checklist:
Enough parking? Will need an analysis. These kinds of businesses generate huge parking demand. Enough space to build enough structured parking? Economic feasibility of structured parking?
Traffic? Will require a traffic study to make sure the generated traffic can be accommodated on existing streets/roads, especially at peak times (I'm dubious about that - there is basically only one road to take traffic to and fro in east-west fashion. No connecting north-south artery present).
Negative impact on bars and restaurants and other entertainment businesses downtown and the strip? Will need to be studied.
I assume all the land that would be occupied by these businesses are on University owned land. Legal precedent for universities leasing land to an entertainment district of bars and other businesses?
Who would police this distirict - City or campus police, or state police? Proper ingress and egress for EMT?
Water and sewer and dry utilities capacities sufficient? Expansion of UT power generation needed?
Ethical question: Universities are supposed to be schools, not mixed use entertainment districts. Those two things have traditionally been separated. Legal, ethical, cultural, and economic equity questions to be studied?
Separate ethical question: President of UT is also the developer of downtown baseball stadium within ENTERTAINMENT DISTRICT. Conflict of interest?
These came to mind off the top of my head. Any others?
considering the entertainment district is supposed to function WITH Neyland stadium I think the concerns about parking/traffic fall under the typical game day experience. You aren't bringing in even more people than the couple hundred thousand on gameday already there, you are just giving them something to do. any of the game day/big events already have police on hand for directing traffic. G10 is already going to have to be torn down to do this just from a structural standpoint, I imagine the entire "underground" of this new district will be parking, see Atlantic Station in Atlanta for an example. probably would be able to increase parking, depending on the design.
as has been mentioned most of the strip is gone, so that is what this is replacing, and it won't be directly competing with downtown.
UT already leases land to multiple businesses. Various restaurants operate in the Student Union building. And I could be wrong but I am pretty sure that land where the Walmart is between main campus and the AG campus is University property, so I think there is some more precedence there. Someone may be able to check me there though.
I would assume during normal operations its campus police, and the city police get called in on big events. just as it already is.
Not sure about the utilities but I don't think those are holding back any of the other expansions going on on UT's campus, so I don't think this is much of a concern. This district's peak time is also going to be when the rest of the campus is relatively light. on the weekends, or late at night, you don't have students in all the various classrooms using that power, water, etc.
Not sure why we're worried about an entertainment district considering the venue (Neyland) its serving is an entertainment mecca already. Besides the UT affiliated events UT already hosts a TON of non-school events, many of which are purely entertainment. unless there is some weird bylaw somewhere I don't see it as a conflict of interest. If it also provides the students some needed amenities I don't see the issue. The businesses will probably take dining dollars. personally I would like to see some classrooms or dorms put in as well, so that the area is activated a little more as part of campus and not just purely entertainment. Again with the classrooms there won't be a lot of overlap in services. and if they are smart/wanted to at least some of these new businesses could be student ran/coop types. Not sure what all programs UT offers that this would work towards, but at the least you could get some business and logistic majors going, maybe open up a little clinic or something for the nursing, maybe some of the AG stuff/food can go to a restaurant (Farm to Table type).
the baseball stadium question isn't something I can speak on.
One issue I see is the railroad tracks, those companies pretty much NEVER give up their land. so there will be some type of tunnel, which is fine, but it does add elevation. and imo it would be nice if this district "spilled down" to the river, or at least opened up and looked towards the river somehow. would also need to redo the drive on the river.
One cool opportunity would be to pair up with some VFLs and have them own/partner some of these businesses. Maybe there's a Peyton's Papa Johns, or a Grant Williams Taco Mac, or whatever. or if there are some alum that have opened businesses they get preferential choice down there.