LOCATION
Rochester, New York
PROJECT HIGHLIGHTS
Detailed analysis of local market demand
Validate market viability of proposed improvements and one-time capital improvements identified in Facility Assessment Report
Prioritize objectives based on net income potential, life safety, compliance and aesthetics
PROJECT DESCRIPTION
Johnson Consulting was retained by the City of Rochester to undertake a Market Analysis of potential renovation options that have been recommended for the Blue Cross Arena at the War Memorial. The recommendations are contained in a Facility Assessment prepared for the City in June 2014 by Populous. The Populous Report developed numerous recommendations for modernization and upgrades to the Arena. The Economic Analysis performed by the Johnson Consulting Team confirmed the market viability of the improvements proposed in the Facility Assessment Report, validated the one time capital improvements identified, and established prioritization of the objectives, based on net income potential, life safety, compliance and aesthetics. The study included a detailed analysis of local market demand for sports and entertainment offerings, and developed a comprehensive study, which evaluated the financial feasibility of the recommendations made in the prior Facility Assessment Report. The results of this report also provided a basis for the City’s negotiations for a long-term management agreement with the goal of maximizing the profitability of the Arena.
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