i am not trying to side track with numbers but clarify …dozens of times on this post people wishing that private sector would save this theater. As jayne said, a company took a good hard look and spent 100’s of 1000’s studing the site. at 90 million, a 4500 seat theater (rounding) making $10 profit per seat after all labor and operational costs and would have to sell out 2,000 shows to recoup costs. if they booked 150 shows a year, it would be 13 years to recoup investment …. this is without calculating interest on loans, or the fact that 150 sell out concerts for 13 years in a row is a very rosy picture. If the city is interested in revitalizing its own neighborhoods and developing more tax revenue , it has to help invest in itself by making development by the private sector a sound investment
the restoration number talked about was 90 million – not 40 million this including providing parking to patrons. the city must offer tax breaks for any potential buyer to get serious about making the uptown a viable project
i am not trying to side track with numbers but clarify …dozens of times on this post people wishing that private sector would save this theater. As jayne said, a company took a good hard look and spent 100’s of 1000’s studing the site. at 90 million, a 4500 seat theater (rounding) making $10 profit per seat after all labor and operational costs and would have to sell out 2,000 shows to recoup costs. if they booked 150 shows a year, it would be 13 years to recoup investment …. this is without calculating interest on loans, or the fact that 150 sell out concerts for 13 years in a row is a very rosy picture. If the city is interested in revitalizing its own neighborhoods and developing more tax revenue , it has to help invest in itself by making development by the private sector a sound investment
the restoration number talked about was 90 million – not 40 million this including providing parking to patrons. the city must offer tax breaks for any potential buyer to get serious about making the uptown a viable project
there has been talk of msg buying the building behind the stage and breaking thru the wall