UNLV Campus Improvement Authority Board Review of Stadium Tours, Estimated Building Costs and Proposed Calendar of Events April 24, 2014
TABLE OF contents 1) TOURS OF TEXAS STADIUMS ............................................................3 2) GENSLER SUN STUDY ..................................................................... 40 3) LAS VEGAS STADIUM COST ESTIMATE ............................................ 44 4) LAS VEGAS STADIUM EVENT CALENDAR ........................................ 50 2
1 TOURS OF TEXAS STADIUMS 3
TOURS OF texAs stAdiums STadiumS TouRS: aT&T STadium dallaS CowBoyS • On April 2nd, 2014 project representatives toured three recently built stadium developments based in Texas • AT&T Stadium in Arlington, TX – Dallas Cowboys • Amon G. Carter Stadium in Fort Worth, TX – Texas Christian University • McLane Stadium in Waco, TX – Baylor University amon G. CaRTER STadium • The primary purpose of the tours were to better understand: TCu • Stadium operations • Third party event activity • Building program and design elements • Outfit of premium spaces • Infrastructure • Other relevant elements of each stadium development mClanE STadium BayloR univERSiTy TouR PaRTiCiPanTS: • UNLV Representatives • CIAB Members • CSL International / Legends • Venue Solutions Group 4
aT&T STadium PRojECT FinanCE: yEaR oPEnEd 2009 • County contributed $25 million for roads/parking lots • The City of Arlington provided $325 million in voter-approved City bonds CaPaCiTy 80,000 • Bonds backed by 0.5% sales tax increase, 2% hotel tax and 5% car rental tax. Sq. FooTaGE 3.0M sq. ft. • The City issued $114 million in revenue bonds • Bonds backed by 10% admission tax, $3 parking surcharge. PRojECT CoST $1,214M • The Cowboys funded their contribution via private bond issues and NFL loans drawn on club seat and PSL revenue. • PSL sales generated approximately $500 million in project funding. • Cost overruns were the responsibility of the Cowboys PREmium SEaTinG: • AT&T Stadium features 300 suites at an average annual cost of around $300,000. • AT&T Stadium also offers over 14,000 club seats sold at an average annual fee of approximately $3,370. • The Cowboys placed PSLs on 56,314 seats in the stadium (86 percent of capacity) • Seat license prices ranged from $2,000 to $150,000 per seat • Total potential seat license revenue of $650.0 million 5
aT&T STadium ExTERioR 6
aT&T STadium SEaTinG Bowl 7
aT&T STadium CluB lounGE 8
aT&T STadium CluB lounGE 9
aT&T STadium FiEld lEvEl CluB 10
aT&T STadium FiEld lEvEl CluB 11
luxuRy SuiTE ovERviEw 12
aT&T STadium FiEld lEvEl SuiTE 13
aT&T STadium PRivaTE SuiTE 14
aT&T STadium BaSkETBall ConFiGuRaTion 15
aT&T STadium BaSkETBall ConFiGuRaTion 16
aT&T STadium BoxinG ConFiGuRaTion 17
aT&T STadium ConCERT ConFiGuRaTion 18
aT&T STadium moToRSPoRT ConFiGuRaTion 19
amon G. CaRTER STadium PRojECT FinanCE: PREmium SEaTinG: yEaR oPEnEd 1930, 2012 Renovation • 100% donor funded project cost of $164 Million • 6 Founders Suites - $15MM capital gift • Primary Sources: • 25 luxury suites - $1MM, $2MM, or $5MM capital gift CaPaCiTy 45,000 • 6 Founding Partners at $15 Million each plus oil income from site • Suite rights for 10, 20, or 25 years Sq. FooTaGE 279,179 sq. ft. • 2,600 club seats -$2,500-3,000 year donation with minimal ticket • Suites were sold for up front contributions of $1-5 Million for $30 Million price with food included. total provided most of remainder of project funding. PRojECT CoST $164M • Could have charged double for suites. • 5% annual escalator on tickets • No Long term debt financing • All revenue towards scholarship fund • Commercial Paper at 2% for 5 years as bridge financing • High level of interior finishes in clubs and suites by HKS • Project included new luxury suites, club seats, club lounge, West Stand and a new press box oThER PRojECT ElEmEnTS • Low Suite positions modeled after AT&T Stadium • Premium Tailgate amenities and parking are very successful ($2,500/space X 1,000spaces) • Scoreboard signs were done for $2.5 Million contribution. • Bowl Signage is simple with only moderate corporate advertising presence. 20
amon G. CaRTER STadium nEw ExTERioR 21
amon G. CaRTER STadium inTERioR ConCouRSES 22
amon G. CaRTER STadium End ZonE PaRTy dECk 23
amon G. CaRTER STadium CluB lounGES 24
amon G. CaRTER STadium STandaRd SuiTES 25
amon G. CaRTER STadium FoundERS CluB SPaCE 26
amon G. CaRTER STadium individual FoundERS SuiTE 27
amon G. CaRTER STadium PREmium TailGaTE ZonES 28
mClanE STadium PRojECT FinanCE: PREmium SEaTinG yEaR oPEnEd 2014 • Baylor took on a multi-initiative fundraising campaign to develop • Premium seating at the stadium will include: the $260 million McLean Stadium along with other facilities on • 6 Founder’s Suites CaPaCiTy 45,000 campus. • 36 luxury suites Sq. FooTaGE 860,000 sq. ft. • City of Waco provided $35 million in TIFF funds • 79 loge boxes • Baylor athletics are paying $100 million over 20 years to fund the • 1,200 club seats PRojECT CoST $260M new stadium • Founder’s Suites required a minimum contribution of $10.0M • Approximately $82.5 million capital gift donations required for • Included 20 years of suite holder benefits. the purchase of club seats, loge boxes and luxury suites in the • 36 luxury suites required a contribution between $1M and $3M new stadium. • Included suite holder benefits for seven to 15 years • Stadium naming rights provided $25.0 million in funding • Capital seat gifts tied to the 42 suites generated $140M • Field naming rights accounted for $17.5 million • Including several donors who gave more than $10.0M and received naming opportunities throughout the stadium • Loge Boxes required gifts between $40,000 and $250,000+ • Club seats required gifts from $5,000 to $150,000+. • Approximately $22M was generated by loge box and club seat capital gifts. • Overall, Baylor generated approximately $162M in capital seat 29 donations.
mClanE STadium STadium ExTERioR 30
mClanE STadium STadium ExTERioR 31
mClanE STadium STadium Bowl 32
mClanE STadium SCoREBoaRd 33
mClanE STadium ShadinG SySTEm 34
mClanE STadium SuiTE and CluB dECk 35
mClanE STadium loGE BoxES 36
mClanE STadium loGE Box REndERinGS 37
mClanE STadium CluB SEaTinG aREaS 38
mClanE STadium viEwS 39
2 GENSLER SUN STUDY
LAS VEGAS STADIUM sun study Las Vegas Stadium – 40’ Small Roof 92,188 Sq. Ft. of Roof Gensler 41
LAS VEGAS STADIUM sun study Las Vegas Stadium – 75’ Medium Roof 147,780 Sq. Ft. of Roof Gensler 42
LAS VEGAS STADIUM sun study Las Vegas Stadium – 125’ Large Roof 227,165 Sq. Ft. of Roof Gensler 43
3 LAS VEGAS STADIUM COST ESTIMATE
mClanE STadium - BayloR yEaR oPEnEd 2014 loCaTion Waco, Texas ConSTRuCTion CoST $250.0 million CaPaCiTy 45,000 CoST PER SEaT $5,556 ConCouRSES 2 widTh 650’ lEnGTh 815’ FooTPRinT 529,750 sqft SquaRE FEET 860,000 sqft Note: Construction cost only includes hard costs; not inclusive of soft costs like design and architectural fees, land, interest or other development costs. 45
TCF Bank STadium - minnESoTa yEaR oPEnEd: 2009 loCaTion: Minneapolis, Minnesota ConSTRuCTion CoST: $375.0 million (2014 dollaRS) 50,805 CaPaCiTy: CoST PER SEaT: $7,381 ConCouRSES: 2 widTh: 715’ lEnGTh: 910’ FooTPRinT: 650,650 sq. ft. SquaRE FEET: 908,000 sq. ft. Note: Construction costs have been inflated by 5% a year, with construction starting in 2006. Construction cost only includes hard costs; not inclusive of soft costs like design and architectural fees, land, interest or other development costs. 46
houSTon STadium yEaR oPEnEd 2014 loCaTion Houston, Texas ConSTRuCTion CoST $105.0 million CaPaCiTy 40,000 CoST PER SEaT $2,625 ConCouRSES 1 widTh 650’ lEnGTh 910’ FooTPRinT 591,500 sq. ft. SquaRE FEET 660,000 sq. ft. Note: Construction cost only includes hard costs; not inclusive of soft costs like design and architectural fees, land, interest or other development costs. 47
laS vEGaS STadium CaPaCiTy 50,000 ConCouRSES 2 widTh 675’ lEnGTh 900’ FooTPRinT 607,500 sq. ft. SEaTinG Bowl 280,000 sq. ft. inTERioR SPaCE 350,000 sq. ft. SquaRE FEET 900,000 sq. ft. 48
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