Johnson Consulting - Real Estate Consulting

Project Highlights

  • Community-based convention center and arena complex
  • Feasibility, market and Economic and Fiscal Impact analysis
  • 25,000+ seat new State of the Art Arena and a 60 percent increase in size for the current convention facilities.

 
Johnson Consulting was hired by the Lexington Center Corporation to determine the feasibility of a new arena and theater, and an expanded convention center in Lexington, KY. The consulting team prepared a feasibility study, market analysis, needs assessment, financial projections, and an economic and fiscal impact analysis to better understand the viability of the proposed development and expansion.

Considering the age, lack of technology and revenue producing elements of the existing Rupp Arena and the capacity limitations of the current convention facilities, the Lexington Center team set forth a plan to improve the quality and increase the size of its offerings, the new and expanded facilities are projected to provide large economic benefits throughout the community for years to come. A great plan is in the works and used as a basis for the analysis to develop the new arena on an existing parking lot adjacent to the current facilities, while the existing Rupp Arena will be converted to additional exhibit, ballroom and meeting space as well as a new proscenium style theater that will all flawlessly tie into the current meeting space and 365-room newly renovated Hyatt headquarter hotel.

The new arena is proposed to offer a wealth of premium seating options in the form of suites, loge boxes and club seats, as well as a rooftop bar, ground floor retail, state of the art technology and an expansion / improvement to all arena components from concessions to wider exits, and display advertising to back of the house storage. The expanded convention center would increase from approximately 105,000 square feet to 177,000 square feet in addition to a 2,500 theater to complement the current theater offerings in the market.