The University of Central Florida has built a new 10,000-seat multipurpose sport and entertainment Convocation Center and a 45,000-seat football stadium located on its campus. While two separate projects, Johnson Consulting prepared the market and financial analysis for both developments. The Convocation Center analysis included addressing the renovation of the current UCF Arena.
The Convocation Center is utilized for University athletic events, commencements, as well as a variety of other sporting and entertainment events, family shows, and other community-oriented events. The football stadium is used primarily for UCF football games. Johnson Consulting was engaged to provide analysis of the proposed facilities and project the operating and financial results. We communicated the structure of the deal, evaluated potential demand, considered the competitiveness of the Orlando market, reviewed comparable markets, evaluated premium seating opportunities, and then presented our operating projections, for use in the successful bond issue.
We served as advisor to both the design build team and UCF in the conceptualization and development of each project. We reviewed the Athletic Department’s mission, existing operating budgets and strategies, relationship with the university and community, management and staffing structure, market profile, and other factors. The Convocation Center project also included 2,000 beds of dormitory space, 120,000 square feet of retail space, and new facilities for the athletic department.