Johnson Consulting - Real Estate Consulting

Project Highlights

  • Performing Arts Center feasibility
  • Contributions of a Performing Arts Center to mixed-use downtown re-development
  • Public financing options analysis

 
C.H. Johnson Consulting worked for the City of Burnsville to perform a feasibility study for a performing arts center to be located within the Heart of the City (HOC) Development. The HOC development is a mixed-use, 54-acre site, with goals of developing a pedestrian-friendly downtown center, to bring arts and cultural opportunities to the area, and to increase the tax base through economic development.

The Performing Arts Center site is to be built on 6.24 acres and is also to include a hotel, retail and restaurant uses, and parking. The City commissioned a similar review for a Performing Arts Center several years ago which found the project to be feasible. This was interpreted as being a project that was financially supportable by the private sector. A subsequent developer RFP failed to attract a developer to build the facility at its cost. The community has now learned that pubic and philanthropic support is required. The City had to view the project as a catalyst within the overall development, justifying its investment on quality of life and other real estate return on investment metrics. In addition to the feasibility work, our role was to help determine those various values. C.H. Johnson Consulting also performed a more in-depth study to allow the City to make a more informed decision about the possibility of public financial participation in the project.