stl stadium project overview
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peacock/blitz presentationTRANSCRIPT
PowerPoint Presentation
A New St. Louis Vision: North Riverfront Stadium PlanDavid A. Peacock and Robert D. BlitzJanuary 9, 2015
North Riverfront Stadium Plan
The Vision
Satisfying the Governors Core Principles
Financials
Redevelopment Area
Anticipated Timing
North Riverfront Stadium Plan
The Vision
By 2020, the St. Louis region will cement itself as a permanent NFL home with a new stadium on the Mississippi River riverfront.
The new stadium and its surrounding complex will be the crown jewel of the reinvention of St. Louis city center, supplementing efforts already well underway by Federal, State and local public and private entities to redevelop downtown St. Louis, the Gateway Arch grounds, and the Mississippi River riverfront.
North Riverfront Stadium Plan
North Riverfront Stadium Plan
North Riverfront Stadium Plan
North Riverfront Stadium Plan
North Riverfront Stadium Plan
North Riverfront Stadium Plan
North Riverfront Stadium Plan
Seat Inventory General54,020 Private Suites (100)* 2,000 Loge Boxes (60) 480 Club 7,500 Total64,000
*Private suite inventory includes field and suite level locations
North Riverfront Stadium Plan
North Riverfront Stadium Plan
ParkingStructured (VIP/Premium) Parking 5,463 CarsSurface Parking 3,945 CarsSurface Parking on Future Dev. Land 1,081 Cars
Total Parking = 10,439 Cars ProvidedTotal Required (65,000 Stadium @ 3 per car) = 21,667 Cars
North Riverfront Stadium Plan
Satisfying the Governors Core Principles
The new stadium project will eradicate blight and redevelop the North Riverfront, an area that wouldnt be developed in the foreseeable future but for the new stadium project.
The site of the new stadium project is eligible for brownfield tax credits in connection with required environmental remediation.
The construction of the new stadium will provide jobs that pay competitive wages, creating over 5,000 construction jobs over a four-year period, in addition to retaining a major regional employer and over 2,400 game-day jobs.
North Riverfront Stadium Plan
Satisfying the Governors Core Principles
In addition to financing the construction of the new stadium, the plan includes the financing of material improvements to the existing Edward Jones Dome and Americas Center.
The Edward Jones Dome will be repositioned for permanent convention center use in order to significantly enhance the St. Louis regions ability to attract, hold and retain national-quality meetings, events and conventions.
Making the football season available for meetings, events and conventions at the Edward Jones Dome will create millions of dollars in economic impact for the St. Louis region.
North Riverfront Stadium Plan
Satisfying the Governors Core Principles
The new stadium will be held as a public asset and owned by a public entity, most likely the St. Louis Regional Convention and Sports Complex Authority.
The stadium will be leased to the NFL teams stadium company pursuant to a modernized lease, with the ability to sublet to an additional sports franchise such as an MLS team.
Any revenue splits, operating leasehold rights, management agreements, parking terms, signage splits, naming rights, and other rights and obligations will be negotiated with the NFL team.
North Riverfront Stadium Plan
Satisfying the Governors Core Principles
The new stadium will impose no new tax burden on taxpayers in the local region or the State of Missouri.
The construction will be financed without increasing the current level of debt service and preservation payments from the sponsors (St. Louis County, St. Louis City and the State of Missouri) of the current Edward Jones Dome bonds.
New bonds may be issued that will extend the current payment obligations (in the same amount as the current obligations) in order to finance the new stadium and the improvements to the Edward Jones Dome and Americas Center.
All public financing is contingent upon significant private investment from the NFL team and the NFL itself.
North Riverfront Stadium Plan
Financials
Estimated costs:Land / Demolition$ 90m - $110mStadium construction $600m - $650mParking / Infrastructure needs$170m $225mTotal$860m - $985mPrivate sources:NFL team ownership$200m - $250mNFL (committed to match up to $200m through G4 program)$200m Total$400m - $450m
Potential public sources (all contingent on private financing):Bond extension$300m - $350mMDFB support$ 15m - $ 25mBrownfield tax credits$ 25m - $ 30mSeat license proceeds$120m - $130mTotal$460m - $535m
North Riverfront Stadium Plan
Redevelopment Area
North Riverfront Stadium Plan
Anticipated Timing
January May 2015
Present preliminary stadium plan to Governor and the publicEnsure stadium plan and redevelopment site meet NFL criteriaNFL confirms funding availabilityFinalize site plan and develop site acquisition strategy
June 2015 December 2016
Acquire site controlDesign and construction documents prepared and finalizedBids solicited and contractors selectedSite preparation work begins
January December 2017
Financing documents drafted, negotiated and signedLease documents drafted, negotiated and signedSite preparation work completed and permits obtained
January 2018 Summer 2020
Market seat licensesConstruction of new stadium for opening by 2020 NFL season
North Riverfront Stadium Plan
A New St. Louis Vision: North Riverfront Stadium PlanDavid A. Peacock and Robert D. BlitzJanuary 9, 2015
North Riverfront Stadium Plan